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Mortgage

When it comes to originating, closing, and recording a mortgage loan successfully, timeliness and accuracy are paramount in this era of more stringent regulations and stiff penalties. Incorporating electronic processes into your loan fulfillment workflow can make a big difference in both the cycle time and loan quality.

 

 

Integrated Disclosures

In less than a year, the long-existing Truth-in-Lending disclosure statement, Good Faith Estimate, and HUD-1 settlement statement will be consolidated into two completely new mortgage disclosure forms: the Loan Estimate and the Closing Disclosure. Changes under the new rule are significant because the transition is not simply a matter of content and new forms, it requires a whole new way of collaborating with workflow participants. Lenders only have until August, 2015 to be fully compliant.

 

 

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Application

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. eLynx can help you expand your paperless loan process beyond applications to include disclosures, electronic signatures, and the collection of supporting documentation.

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Underwriting

Paper-based underwriting slows down the process and makes it difficult to balance workload across geographically distributed processing centers. eLynx can help you solve this problem by moving all of the documents online and into workflow-enabled electronic loan folders.

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Closing

A well executed mortgage closing is critical to delivering an excellent customer experience, generating quality loans, and preventing losses from fraud and HUD-1 errors.

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Electronic Closing

During the Closing and Servicing of loans, documents are often converted to paper because lenders lack the infrastructure for a secure electronic closing workflow and delivery of servicing documents to borrowers.

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Post Close

An efficient post-close electronic process improves loan quality and reduces the time it takes to release funds so they can be used for new loans.

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Secondary Market

With increased regulation and market uncertainty, investors are increasingly concerned with the transparency and quality of the loans they purchase.

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