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eLynx Enhances Closing Services with LandAmerica—Collaboration Provides Lenders an Entry Point to the Industry eMortgage
October 20, 2008
CINCINNATI – October 20, 2008 – eLynx, a portfolio company of American Capital (NASDAQ: ACAS), and provider of the most widely used secure electronic document collaboration and distribution network for the financial services industry, announced enhancements to the electronic closing capabilities of LandAmerica’s eZNetClose™ mortgage closing system through integration with the eLynx expediteSM network. The company has built the industry’s most broadly adopted network that integrates seamlessly with leading settlement entities. The result is that lenders can now execute electronic closings through a variety of channels.
As part of the expedite network, lenders can securely submit loans electronically to LandAmerica’s eZNetClose Web-based closing system. eLynx captures the legacy document output from the lenders and then delivers, indexes and prepares the output for electronic signing within eZNetClose. In addition, eLynx automatically delivers the document into LandAmerica’s workflow system for post-close processing and imaging while providing the lender with a connection to the indexed closed loan.
“eLynx is pleased to welcome LandAmerica as a client,” explains Sharon Matthews, eLynx president and CEO. “Both of our companies understand the need our shared lender clients have for convenience, security and speed in the electronic loan process. We also share a networked approach that makes it much easier for lenders to step smoothly into the eMortgage.” Matthews notes the collaboration with LandAmerica connects a large percentage of the lending community with another established electronic processing channel.
“We’re very excited about this collaboration with eLynx,” adds Cheryl Cox, president of LandAmerica. “We’re looking for industry leaders who are recognized by the leading lenders our division supports. eLynx’s eMortgage technology not only meets the most stringent security standards, but it has also achieved a seamless integration with eZNetClose. At LandAmerica we are always looking to make the settlement services process more efficient and to reduce costs for both our lender clients and consumers. Removing paper from the process is helping us to achieve this goal.”
About eLynx
eLynx, a portfolio company of S&P 500 member American Capital (NASDAQ: ACAS), provides the most widely used network for electronic document collaboration and distribution services for the financial services industry. Enterprises use eLynx to capture and maintain data electronically throughout the document life cycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with industry regulations. eLynx serves more than 600 financial institutions including 17 of the top 20 mortgage lenders and more than 100 insurance carriers in the United States. eLynx enables more than 65 percent of the nation’s mortgage closings. In addition, more than 4,000 enterprises worldwide with more than 4 million users in a broad spectrum of industries use eLynx's enterprise document output solutions. The company, founded in 1994, operates nationally with headquarters in Cincinnati, Ohio and offices in Portland, Oregon along with redundant data centers in Beaverton, Oregon and Chicago, Illinois. For more information, visit www.elynx.com.
About LandAmerica Financial Group, Inc.
LandAmerica Financial Group, Inc. is a leading provider of real estate transaction services with over 650 offices and a network of more than 8,500 active agents. LandAmerica serves agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe and Asia. LandAmerica has been ranked Number One in the Mortgage Services Industry on Fortune's® 2007 and 2008 lists of America's Most Admired Companies.
Press Release/Media Contact:
Robert Nilsson
Vice President of Marketing and Market Development
eLynx
(513) 612-5942
rnilsson@elynx.com
Beverly Bartley
Martopia
Vice President of Communications
Media contact for eLynx
bbartley@martopia.com