Ernst, eLynx Integrate Systems to Aid More Compliant and Accurate Closings

March 10, 2016

Ernst Publishing Co. and eLynx announced they have linked their software systems in an effort 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 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.

““We’ve spent the last 26 years creating software and systems that provide guaranteed accurate mortgage closing cost fees to lenders,” said Gregory Teal, president and chief executive officer of Ernst Publishing. “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.”

Andy Crisenbery, senior vice president of business operations for eLynx, added “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 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

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

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