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Quality Control Audit Tool

eLynx QC Audit Tool™ delivers an automated quality control solution that eliminates the need for painstaking manual reviews of your initial disclosures vs. those prepared by your settlement services provider. With the push of a button, the eLynx QC Audit Tool™ identifies errors and compliance concerns within minutes.

 

  • Improved quality — automated quality control allows you to be confident that all documents are accurate and your risk is mitigated before the borrower proceeds to closing.
  • Consistent compliance — you can have the confidence that you have disclosed the proper fees to the borrower and that you have met all RESPA requirements.
  • Reduced closing time — manual reviews and potential re-dos are avoided, reducing closing time for borrowers.
  • Cost savings — fewer errors, a higher compliance rate, and faster turn times translates quickly into labor and other cost savings.
  • Transaction-based payment model — no upfront capital requirements, licensing fees and integration costs.
  1. The eLynx proprietary technology extracts and analyzes content from your mortgage documents by converting images into usable information.
  2. All data is extracted from your closing instructions and your title company’s prepared HUD-1 and stored in eLynx’s secure eVault.
  3. Next, eLynx’s technology verifies, compares, and analyzes all closing document information to ensure it meets your quality control stipulations and is in compliance with all regulatory requirements.
  4. All data is comprehensively compared and audited in real time to ensure all of your quality control and compliance specifications are met.
  5. Instead of painstaking hours of ‘staring and comparing’ information across two computer screens, you receive a comprehensive and user-friendly summary report that highlights issues with your documents’ information and directs you immediately to the spot on the form with the questionable result.
  6. The whole process takes less than 10 minutes… a fraction of the time that it takes you to complete the manual evaluation today.

Snapshot from an eLynx QC Audit Tool Summary Report

 

QC Audit Tool