Lydian Boosting Electronic Loan Delivery

Lydian Technology Group, a mortgage technology provider based in Jacksonville, Fla., has enhanced its Mortgage Connectivity Hub to enable investors to accept loans from sellers electronically regardless of how the sellers submit the loan data.The system, which targets mid- to large-size lenders, now makes it far easier for investors to embrace electronic loan delivery, the company said. Lydian president Brian Fitzpatrick said there are probably fewer than 10 big aggregators that can accept loans electronically. "Regardless of how much we want to talk about electronic loan delivery, very few investors can support electronic loan submissions these days from a data perspective," he said. Mortgage Connectivity Hub now enables investors to accept loans electronically without having to make a significant financial investment and to process bulk transactions more like flow transactions, Lydian said. "Now investors can take a bulk transaction and have it broken down into single transactions that can be processed one at a time and automatically sent on to downstream systems or processes -- all quickly, accurately, and minimizing the opportunity of error," Mr. Fitzpatrick said. The company can be found online at http://www.lydiantechnology.com.