eSignLive and eLynx Team Up to Deliver uSign
The first web-based service to offer complete document delivery, review and e-signing capabilities to homebuyers
MARCH 10, 2003 — ORLANDO, Fla., MARCH 10, 2003 – eLynx Ltd., a leading provider of electronic document delivery solutions for mortgage lenders, today announced the availability of uSign™ -- a new technology that enables homebuyers to review and electronically approve mortgage disclosures and loan documents via the Internet -- at 2003 MBA National Technology in Mortgage Banking Conference & Expo.
The introduction of uSign marks the expansion of eLynx’ service suite to directly include homebuyers. Through uSign, lenders are now able to deliver early disclosure packages and loan documents to the homebuyer without incurring costly mail and courier fees or experiencing delays in the receipt of signed documents. Homebuyers can now review, electronically approve and submit documents and disclosures to the lender in a matter of minutes.
uSign delivers a number of key benefits to mortgage professionals, including significant cost savings in two-way document delivery, increased customer retention and conversion and continuous alerts on the status of the homebuyer’s progress in reviewing and approving the documents. Like all eLynx’s offerings, uSign is easily integrated into any document origination system to provide a seamless, branded delivery and approval environment. Additionally, uSign complies with Electronic Signatures in Global and National Commerce Act (E-SIGN) and Uniform Electronic Transaction Act (UETA) legislation.
“As the mortgage industry moves toward a complete paperless process, eLynx’s uSign technology provides the necessary technology to stimulate electronic signature acceptance,” said Millie White, president of Accurate Document Service. “With uSign’s capabilities, lenders and borrowers can each benefit from a quick and efficient delivery and receipt of mortgage documents and disclosures.”
“This technology is necessary to accelerate the mortgage industry’s adoption of electronic signatures,” explained Phillip Huff, president of eLynx. “By providing a document delivery solution that harbors electronic approval capabilities, we are taking huge steps toward industry-wide acceptance of eSignatures, as well as providing lenders and borrowers with a faster and more effective way of completing the loan process.”
The electronic signature and approval capabilities of uSign are powered by award-winning technology from Silanis Technology, a company that has been developing electronic signature and approval solutions for more than a decade. All uSign components are in accordance with established and emerging industry guidelines being put forward by the Mortgage Industry Standards Maintenance Organization (MISMO) and the Standards and Procedures for Electronic Records and Signatures (SPeRS).
Silanis Technology is the leading provider of solutions that automate the Business Approval Process. With over 1,000 customers across government, financial services, manufacturing, telecommunications and FDA regulated industries, Silanis has over a decade of experience in developing and delivering solutions that work the way organizations do. Silanis' flagship customers include the US Joint Chiefs of Staff, US Army Medical Command, GMAC CM, Stewart Title, and Bayer.
Cincinnati-based eLynx Ltd. provides the mortgage industry with all the tools needed for electronic delivery of documents. eLynx launched its secure electronic document delivery (EDD) service in June 1999. The company’s WPS (Web Posting Service) interfaces with any existing system to deliver data and documents securely on the Web in a fraction of the time and cost of conventional overnight and mail services. In 2002, eLynx customers accounted for more than 25 percent of all mortgage originations. For more information about eLynx, visit the company’s Web site at www.elynx.com.
Allison Smith, for eLynx, (678) 781-7216
Mary Ellen Power, Silanis, (514) 337-5255 ext. 1117, [email protected]