Ernst Partners With eLynx on TRID-Compliant Closings

Ernst Partners With eLynx on TRID-Compliant Closings

March 10, 2016
Ernst Publishing Company and eLynx have linked their software systems to enable lenders and settlement age

Ernst Publishing Company and eLynx have linked their software systems to enable lenders and settlement agents to close mortgage loans more accurately, quickly and compliantly. The alliance creates a tighter integration between Ernst’s Settlement Agent Gateway, a collaborative fee management system that guarantees TRID compliant fees for both lenders and settlement agents, and eLynx’s Electronic Closing Network (eCN). eCN gives lenders transparency and control of the closing process while significantly reducing the risk of loss due to fraud and non-compliance. Both platforms were built according to Mortgage Industry Standards Maintenance Organization (MISMO) data standards.

“This is a perfect fit for both companies and delivers a huge benefit to both eLynx customers and our own,” said Gregory E. Teal, president and chief executive officer of Ernst Publishing. “We’ve spent the last 26 years creating software and systems that provide guaranteed accurate mortgage closing cost fees to lenders. And eLynx’s eCN platform is one of the best vendor management systems for closing agents. Together, we now offer a complete solution that removes the compliance pain from the closing process at the same time it guards against fraud and improves the borrower’s overall experience.”

“Today, eCN gives lenders the confidence to work with over 100,000 registered closing professionals, the largest verified network of closing attorneys, partners and agents,” said Andy Crisenbery, senior vice president of business operations for eLynx. “By incorporating Ernst’s closing cost data to eCN, lenders now have easy access to guaranteed accurate fees long before the deal approaches the closing table. This is a very strong alliance that offers significant benefits to loan originators and their partners.”

By linking their platforms, the two companies now provide the following benefits:

To lenders
►Third-party vendor management is vastly simplified with eCN
Guaranteed accurate fees are available from the first disclosure through closing
Local business referral networks are protected from compliance concerns
Lenders can work effortlessly with tens of thousands of settlement agents across the country
Ability to negotiate with agents and approve fees ahead of the loan estimate

To Settlement Agents
Protects their businesses by allowing them to deliver certified accurate fees to lenders
Manage fees anytime with granular geographic and loan level controls
Know which lenders are considering your company when they pull your fee data
Gain access to a huge network of originators, including the nation’s largest