You may already be able to accept applications electronically over the phone or online, giving you a head start on the path towards a paperless loan process. Unfortunately, most lenders typically need to print a paper copy of the documents as soon as a signature is required. eLynx can help you expand your paperless loan process. This includes application, disclosures, signature, and the collection of supporting documentation.
Online 1003 (or another application form)
Capture applications online through an electronic form integrated into your website.
Electronic Disclosures, Appraisals and Decision Documents
eLynx has been delivering electronic disclosures to consumers for over 6 years. With eLynx, you can cut your cycle time from days to hours or minutes and lock in borrowers before your competitors do the same. One customer increased pull through rates by over 20%. You can also deliver your Appraisal Data to Fannie Mae electronically. For documents going to borrowers, there are three delivery options that enable you to deliver virtually any document, including appraisals:
Secure Electronic Document Delivery plus Electronic Consent provides verifiable proof of delivery and, optionally, acceptance when full e-Signature isn’t required.
eDelivery plus eSignature
UETA- and ESIGN-compliant solution for collecting and documenting electronic signatures.
Integrated Print and Mail Fulfillment
When electronic delivery is not an option, documents are automatically diverted to one of eLynx’s two print centers. eLynx prints the packages, inserts appropriate stuffers, mails them to your borrower, and provides reports that document RESPA compliance. This integrated approach provides your agents one simple method for sending out documents while leaving the hard work to us. You will maximize electronic adoption and savings, while staying compliant with regulations.
Electronic Document Collection / Deposit
eLynx can also help you receive documents electronically from your borrowers, brokers, or even appraisers that supply supporting documentation for the loan. These documents can be submitted to your loan process via online upload or by faxing the documents in. Regardless of the method, the documents can be automatically routed to the appropriate electronic loan folder.
- Reduce costs by 30-60%
- Improve borrower and broker experience while promoting your brand
- Increase transparency and simplify compliance with RESPA
- Quickly adjust to changes in application volume
- Maintain a single process for paper or electronic disclosures
- Increase application pull-through by 20%
Signed application in under 30 minutes.
Underwriting at Internet speed.
Better experience with preview and trusted agents.
Loan modification in a lunch hour.
Expedite post close can save hundreds of dollars per loan.
Electronic investor delivery.