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NAHB: Housing starts regain some ground in February

National Mortgage Professional
Mar 16, 2009

eLynx adds appraisal delivery solution to document collaboration platformMortgagePress.comeLynx, HVCC, American Capital, expedite, Home Valuation Code of Conduct, Sharon Matthews eLynx, a portfolio company of American Capital and provider of secure electronic document collaboration and distribution network for the financial services industry, has announced a new appraisal delivery solution has been added to its expedite platform to provide for new appraisal disclosure requirements in the Home Valuation Code of Conduct (HVCC). The solution enables lenders to comply with the new requirement while meeting communication preferences of their borrowers. The eLynx appraisal delivery solution is already in production at multiple lender customers and is available to all eLynx customers who utilize the eLynx expedite platform. "The new rule goes into effect on May 1, 2009, and many lenders are still looking for a solution," said Sharon Matthews, eLynx president and CEO. "The GSEs will not buy loans from any originator who fails to comply with HVCC. In our effort to serve the industry, we are pleased to offer an approach that can be implemented in time to meet the deadline while offering savings and process improvements to our customers." The borrower notification requirement is only one of many new lender requirements in HVCC, but it is among the most onerous as it requires lenders to provide workflow for a task they have never been required to do before. eLynx customers have a solution already available to them as the eLynx expedite" platform offers powerful disclosure and fulfillment capabilities through integrated electronic and paper channels. Franklin Savings, based in Maine and a long-time eLynx customer, has used expedite" for several months to deliver appraisals to borrowers. The bank is also using an optional feature that enables appraisers to upload appraisals securely to the lender. "We like to stay ahead of the compliance rules," said Katrina Pease, Franklin Savings Bank Operations Manager. "eLynx made it easy for us to get ready for the new appraisal requirements with a simple solution and smooth implementation." eLynx provides a complete appraisal delivery solution with multiple options and reporting. The delivery takes place securely through the eLynx expedite platform. Lenders can capture borrower consent on the delivery and audit trails provide a history of the entire process. All eLynx solutions have integrated paper fulfillment with the ability to automatically deliver paper copy when electronic channel is not an option. Lenders can also take advantage of the enhanced audit trail for paper delivery. All eLynx document collaboration and distribution services are offered on-demand, allowing clients to take advantage of the new appraisal delivery capabilities with minimal impact on their current implementation. For more information, visit www.elynx.com.
Published
Mar 16, 2009
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