eLynx to Advance Data Standardization Efforts at MISMO Workshop
Representatives of eLynx contributing in multiple areas: interface architecture, mortgage origination, insurance, title insurance, information security, and electronic mortgages.
January 14, 2013
CINCINNATI – January 14, 2013 — Originators, servicers, and vendors are finding themselves exchanging greater amounts of data to satisfy recent regulatory changes.
As new business partners emerge and more regulations are announced, the need to have a standardized language that can be used by all to securely pass data between parties to ensure reduced costs and quality errors is apparent.
Since early 2000, eLynx has actively collaborated with other industry representatives and has led efforts to create data standardizations through the Mortgage Industry Standards Maintenance Organization (MISMO). Andy Crisenbery, Senior VP of Business Operations; Mark Kleingers, Solutions Architect; and Tom Schraer, Manager of Software Engineering, will continue such efforts at MISMO’s Educational Summit & Workshop from Jan. 14 through Jan. 18 in Atlanta Beach, Florida.
“As the mortgage market become more data-centric, we must work as an industry to most effectively leverage data at every point in complex loan processes for the customers we serve, as well as their business partners,” said Crisenbery.
MISMO brings together a multitude of industry representatives, including mortgage bankers, lenders, servicers, vendors and service providers. This particular workshop, which is one of three workshops occurring each year, will offer servicing and securitization education, as well as opportunities for all working groups to continue collaborations.
“Our working groups make progress as we can, but we’re limited when working remotely,” said Kleingers, who co-chairs the Title workgroup. “I know we’ll drive initiatives forward and get a substantial amount of work done with this opportunity to work together, in-person. We always do.”
eLynx’s implementation of MISMO standards in its products and services continues to actively test and adjust the work being done by MISMO to best meet the needs of lenders and their business partners.
eLynx, a portfolio company of American Capital (NASDAQ: ACAS), helps customers in the financial services and real estate industries capture and manage documents and associated data electronically throughout the document life cycle, ensuring compliance with industry regulations, reducing costs, improving workflow efficiency, and automating paper-intensive processes. The company’s expedite® cloud-based platform and network supports a comprehensive suite of on-demand document collaboration, distribution, and connectivity services that can be deployed independently or as a fully integrated end-to-end eMortgage solution. eLynx serves more than 4,000 clients of all sizes worldwide, including 25 of the top 50 U.S. banks and maintains the largest and most comprehensive database of validated real estate agents in the U.S. More than 4 million users have adopted eLynx's enterprise document output solutions. The company was founded in 1994 and is headquartered in Cincinnati, Ohio. It has offices and redundant data and print centers in Cincinnati and Beaverton, Oregon. For more information, visit www.elynx.com.
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