Ernst Publishing Company, a provider of technology and closing cost data information for the real estate and home finance mortgage industries for the past 26 years, and eLynx, the pioneer and leader in on-demand compliance services for Data-Validated Mortgages, have linked their software systems to enable lenders and settlement agents to close mortgage loans more accurately, quickly and compliantly, to the ultimate benefit of consumers.
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 significantly 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.
“This is a perfect fit for both companies and delivers a huge benefit to both eLynx customers and our own,” said Gregory E. Teal, president and chief executive officer of Ernst Publishing. “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,” said Andy Crisenbery, senior vice president of business operations for eLynx. “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.”