eLynx has enhanced its e-collaboration platform dubbed expedite to provide workflow capabilities lenders can use to manage loan processing and documentation electronically throughout the loan's entire lifecycle. The new release is based on feedback from lender customers and is available to all eLynx customers who utilize the eLynx expedite platform. The new enhancements are part of expedite and are built into electronic loan folders. As documents within the folder change or new documents are added, appropriate parties can be notified as work is queued up. All loan related information is stored securely in a centralized location, including detailed notes about loan-level and document-level status changes that do not necessarily reside on traditional mortgage documentation. The system protects all sensitive data by making it easy to control who has access. A complete audit trail provides loan history and progress at every point in the loan lifecycle. In addition to improving process workflow, usability and individual workflow enhancements were also made for this new release.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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