Ernst Publishing Co. and eLynx have linked their software to enable lenders and settlement agents to close mortgage loans more accurately, quickly and compliantly, according to their announcement.
Ernst Publishing Co. is a provider of technology and closing cost data information for the real estate and home finance mortgage industries for the past 26 years. eLynx provides on-demand compliance services for data-validated mortgages.
The alliance creates a tighter integration between Ernst’s Settlement Agent Gateway, a collaborative fee management system guaranteeing TRID compliant fees for 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 because of 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,” Ernst Publishing President and CEO Gregory Teal said. “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,” eLynx Senior Vice President of Business Operations Andy Crisenbery said. “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, settlement agents can protect 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 their company when they pull fee data, and gain access to a network of originators.