Magazine article Mortgage Banking

eLynx Introduces Audit Trail for Mortgage Document Paper Delivery

Magazine article Mortgage Banking

eLynx Introduces Audit Trail for Mortgage Document Paper Delivery

Article excerpt

Cincinnati-based eLynx--a portfolio company of American Capital Ltd., Bethesda, Maryland--announced the availability of a new watermarking capability for its paper delivery customers of the expedite [TM] platform.

These new capabilities are intended to simplify and improve compliance with the mortgage industry's Real Estate Settlement Procedures Act (RESPA) disclosure requirements, according to Sharon Matthews, eLynx's president and chief executive officer.

"One of the outcomes of the market contraction is increased regulation within the mortgage industry. Our clients are experiencing growing oversight, new rules and regulations, and an increasing risk of penalties," said Matthews. "The watermarking enhancement to expedite will help lenders prove to regulators that they have in fact complied with the requirements."

The new watermarking capability was initially designed to aid the compliance department within one of eLynx's leading lender clients, and is now widely available for use, said Matthews.

Watermarking and automated image routing provides an enhanced audit trail for the paper delivery channel. …

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