eLynx and Stewart partner to deliver electronic closing options for lendersMortgagePress.comeLynx, American Capital, expedite platform, electronic closing, Stewart Lender Services
FOR IMMEDIATE RELEASE eLynx, a portfolio company of American
Capital, has announced the availability of electronic closing
capabilities through the eLynx expedite platform. In an ongoing
effort to address fragmentation in the closing process, eLynx is
working with leading settlement entities to provide lenders with a
variety of channels to electronically close loans, including
through eLynx's own closing room.
Toward that end, eLynx has also announced a strategic
partnership with Stewart Lender Services, a subsidiary of Stewart
Title Company. Together, the two companies are bridging many of the
gaps lenders face in moving toward the eMortgage. The integration
of Stewarts eClosingRoom" electronic closing technology with the
eLynx expedite platform, creates a seamless connection between
lenders and eClosingRoom that does not require any additional
integration on the lender's part. This integration supports
electronic, hybrid, and paper closings, giving lenders more
opportunities to leverage electronic processing efficiencies while
providing a consistent experience for borrowers.
"The main hurdle to the electronic mortgage is and continues to
be fragmentation among lender and vendor-specific electronic
closing solutions," explains Sharon Matthews, eLynx president and
CEO. "Our networked approach is designed, with the lender in mind,
to facilitate adoption of high volume, full and hybrid electronic
mortgage practices. The name of the game in electronic closing is
keeping lenders' options open. Everyone wins when electronic
closing is both vendor and lender agnostic. It's our goal to
facilitate electronic closings in whatever way best suits the
lender, and most importantly to them, the borrowers."
Matthews notes that the integration of Stewart Title's eClosing
Room with the extensive eLynx lender network is significant in that
it connects a large portion of the lending community with an
established electronic processing channel, putting the whole
industry closer to the critical mass required to make widespread
electronic processing a reality. eLynx believes the next
evolutionary phase for common closing scenarios will not only
include branches and settlement offices, but even online
closings.
"eLynx and Stewart are both committed to moving the industry
toward widely accepted electronic closing practices," says Jason
Nadeau, president Stewart Lender Services. "This strategic
partnership offers the greatest opportunity to date for our
industry to make significant gains toward an entirely electronic
lending process, which would benefit everyone involved, especially
the borrower. Together, both eLynx and Stewart have the necessary
market presence to provide a large number of both lenders and
borrowers with a completely electronic closing experience."
For more information, visit www.elynx.com or www.stewart.com.
