eLynx to Acquire Data Solutions and Title Expertise Firm
October 21, 2014
eLynx, a portfolio company of American Capital, has entered into a definitive agreement to acquire the assets of Medallion Analytics Company, a provider of services that help lenders and settlement services companies extract data from documents rather than relying on image files. This data can then be used to pre-populate forms and ensure greater quality, accuracy and compliance in loan documents from pre- to post-close, the companies announced in a release.
eLynx is a provider of document fulfillment, signature and data solutions for the mortgage and consumer industries. Among its products are integrated electronic and print fulfillment capabilities, a document delivery portal to help lenders facilitate communications with consumers and ensure process compliance, and an independent registry of settlement professionals. The addition of Medallion brings expertise in data and settlement services to eLynx. Medallion’s solutions focus on extraction of valuable data contained within documents to ensure better quality and compliance, enhance process efficiency and facilitate smoother, timely collaboration between workflow participants.
“The best way for lenders to cost-effectively produce high quality loans, keep up with increasing regulatory demands and meet investor requirements is to be able to track documents and the data in them throughout the loan life cycle,” said Sharon Matthews, eLynx president and CEO. “Our acquisition of Medallion provides a simple, elegant set of solutions to extract and analyze the data within documents so participants can collaborate better in the loan workflow.”
The new mortgage integrated disclosures, set to go into effect in August 2015, are the latest and most prominent example of why this kind of collaboration is becoming so important. Lenders and settlement agents will have to coordinate more closely than ever to meet the requirements of the new disclosure forms. The addition of Medallion’s services broadens eLynx’s portfolio to cover both lender and title needs in this new framework, Matthews added.
Both companies bring an emphasis on putting customers first and helping them by making workflows easier and more efficient.
“Our deep expertise in title services is a perfect complement to their strength in the closing process, making it a natural fit for us to be working as one,” said Joel Davidson, Medallion chairman and CEO. “We share a common view on the value of data and its impact when properly applied in the mortgage closing process.”
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