eLynx, Landtech Complete Integration
March 31, 2016
eLynx, a provider of on-demand web-based compliance services, has integrated with Landtech Data, a provider of title production software.
The integration enables lenders utilizing eLynx’s Expedite ID compliance solution to exchange property, fee and loan data electronically with the 3,000 settlement service providers in 47 states using Landtech Data’s XML Real Estate Settlement System. This bi-directional exchange of data simplifies the collaboration required for lenders to generate the Closing Disclosure mandated by the TILA-RESPA Integrated Disclosure (TRID) rule.
LandTech users can now save time and effort by directly accessing eLynx’s Electronic Closing Network (eCN) from their desktops, eliminating the need to sign into the system separately. They can also receive lender fee data and send back settlement agent fees to the lender from within LandTech’s production solutions, further streamlining the process.
“Direct integration is far and away the fastest, most reliable and most accurate option for lender-settlement agent collaboration and eliminates a major obstacle lenders face in complying with TRID rules: the timely sharing of data between lenders and settlement agents,” said John Ralston, director of title services at eLynx. “By seamlessly sharing the data required to comply with TRID, lenders and settlement service providers can increase accuracy as well as reduce the cycle times, potential closing delays and costs associated with consumer disclosures.”
Contact ALTA at 202-296-3671 or [email protected].