Stewart Title and eLynx partner to offer a seamless electronic closing
HOUSTON, TX (Oct. 19, 2008) - Stewart announced today a strategic partnership and agreement with eLynx to integrate their eClosingRoom™, electronic closing technology with eLynx's expedite™ document collaboration and distribution network. The integration of these two technology platforms provides eLynx customers and Stewart Title's closing agencies, - with the electronic ability to communicate with all parties and close their mortgage transactions. Customers of eLynx will now be able to electronically deliver their loan-closing packages through the eLynx network directly into Stewart's SureClose® document management system and eClosingRoom platform for eClosings by Stewart's offices and agencies.
As a result of this integration, closing agents using SureClose will be able to electronically receive loan closing documents directly, electronically sign and notarize, where applicable, the documents with the borrowers, and automatically deliver the eSigned documents from SureClose to eLynx within minutes of the closing. eLynx's investor delivery service then electronically delivers loans to the originating lenders and investors - creating a seamless connection between lenders and Stewart's eClosingRoom that does not require any additional integration for lenders.
"With this strategic partnership, we've made it easier for lenders' documents to flow from their existing integration with eLynx to Stewart's SureClose and eClosingRoom, creating a method for lenders to move into the electronic closing world with little or no additional technology investment." said Jason Nadeau, president and CEO of Stewart Lender Services, a subsidiary of Stewart Title Company. "eLynx has long established itself as the dominate player in delivering the nation's mortgage closings, and when combined with Stewart's industry leading electronic closing solution, you have the most robust and easiest approach in the industry to facilitate electronic closings."
"Our companies are aligned with the same vision, to create a consistent experience for both lenders and borrowers alike to encourage the widespread adoption of electronic mortgages," said Sharon Matthews, eLynx president and CEO. "Lenders expect the most flexibility possible in managing their closing activity, as well they should. To that end, eLynx is now offering lenders several networked closing options which offer a seamless, consistent user experience. Together, eLynx and Stewart have delivered an integrated solution that removes many of the roadblocks to electronic closings."
"Lenders can now take advantage of the Stewart eMortgage suite of technology and Stewart's network of eClosingRoom-enabled offices via eLynx's network and partners," Nadeau continues. "Furthermore, Stewart's SureClose platform supports collaboration and document sharing between all parties on the closing, electronically storing the documents in an electronic vault, registering the loan with MERS® and electronically delivering the loan documents to eLynx's and their connected partners."
For more information, e-mail LenderServices@stewart.com or call (800) 577-6674.
eLynx, a portfolio company of S&P500 member American Capital (NASDAQ: ACAS), provides the most widely used network for electronic document collaboration and distribution services for the financial services industry. Enterprises use eLynx to capture and maintain data electronically throughout the document life cycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with industry regulations. eLynx serves more than 600 financial institutions including 17 of the top 20 mortgage lenders and more than 100 insurance carriers in the United States. eLynx enables more than 65 percent of the nation's mortgage closings. In addition, more than 4,000 enterprises worldwide with more than 4 million users in a broad spectrum of industries use eLynx's enterprise document output solutions. The company, founded in 1994, operates nationally with headquarters in Cincinnati, Ohio and offices in Portland, Oregon along with redundant data centers in Beaverton, Oregon and Chicago, Illinois. For more information, visit www.elynx.com.
Stewart Lender Services is a wholly owned subsidiary of Stewart Title Company, a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com.