eLynx, a portfolio company of American Capital, has announced that Bank of Oklahoma Mortgage has chosen eLynx as the exclusive provider for end-to-end electronic mortgage transactions using the company’s suite of electronic closing network (eCN) services. The mortgage lender has emerged as a growing force in the Midwest, adding mortgage services in two new markets, nearly doubling the number of loan officers it employs, and starting a correspondent channel. eLynx has helped the industry process over 47 million loans using electronic fulfillment, through every channel.
eLynx has already begun the work of introducing best practices for high electronic adoption in loan fulfillment to the lender’s staff. Starting in the second quarter, the institution will begin to take full advantage of eLynx’s end-to-end document delivery solutions, electronic signature capability, and multi-lien fraud alerts along with the integrated settlement agent management system and electronic U.S. Department of Housing & Urban Development (HUD) approval workspace. Bank of Oklahoma Mortgage will deploy all eLynx services, including the company's total fulfillment/print and mail service.
“Mortgage lenders are ready to move into true end-to-end electronic mortgage transactions in all channels and we're proud to be the service more institutions are turning to as they do so,” said Sharon Matthews, president and chief executive officer of eLynx. “We are very pleased to be partnering with such a forward-thinking institution, working with the lender’s staff, introducing them to these important technologies and ensuring the lender reaches its goals.”
“eLynx was the best provider that had the technology we needed to take our mortgage lending business where we wanted to go,” said Ben Cowen, president of Bank of Oklahoma Mortgage. “We know firsthand that eLynx has a long history of high quality solutions and of helping institutions reach their electronic lending goals. We are very excited to be partnering with eLynx with our current expansion of our channels and operations.”
eCN has rapidly gained industry acceptance, processing more than one million loans in its first year. There are approximately 100,000 settlement agents registered to use the system. eCN makes it significantly easier to reconcile the data and documents used in the end-to-end loan process by providing direct, secure connections between mortgage professionals and systems.
For more information, visit www.bokf.com or www.elynx.com.