Wells Fargo Home Mortgage Selects eLynx to Provide Secure Electronic Delivery; Becomes the Third Top-Ten Lender to Adopt eLynx WPS - Web Posting Service

Business Wire, Jan 25, 2002

Business Editors

CINCINNATI--(BUSINESS WIRE)--Jan. 25, 2002

Wells Fargo Home Mortgage (WFHM), one of the nation's leading residential mortgage lenders, has named Cincinnati-based eLynx to provide secure delivery of mortgage data and closing documents via the Internet.

Wells Fargo delivered more than 40,000 closing packages in December via eLynx WPS (Web Posting Service), and expects that number to continue growing in 2002.

By partnering with Wells Fargo, eLynx has further solidified its position as the standard for secure electronic document and data delivery (eContent) in mortgage banking. The eLynx network is now comprised of more than 65,000 partners -- including mortgage originators, title companies, and closing attorneys in all 50 states. Three of the top ten lenders and 13 of the top fifty now utilize eLynx WPS as their primary electronic delivery service.

"eLynx provides a secure, seamless connection from our mortgage origination systems to the point of closing. Our recipients need only Internet access and a standard web browser to retrieve and print an exact original, fully-compliant closing package," said Maria Volante, Senior Vice President, Wells Fargo Home Mortgage.

eLynx President Phil Huff said his company is pleased to support WFHM in streamlining the mortgage closing process. "eLynx WPS enables lenders to deliver closing packages in a fraction of the time and cost of courier services or overnight delivery."

Huff said eLynx WPS interfaces with the lender's document systems, and will easily accommodate other applications in the future. "Automation is also a critical issue. eLynx WPS provides lenders' processors with the ability to deliver any document without switching between programs. eLynx even provides an automated status message directly back into the sender's program, enabling processors to verify delivery and retrieval right from their desktop."

More leading companies in the mortgage lending industry have adopted eLynx WPS more than any competitive offering. "The choice is clear," Huff said. "We have exceeded the rigorous demands and expectations of one of the nation's highest-volume mortgage lenders. If you had a wait-and-see policy on EDD, you can now proceed with confidence."

Along with Wells Fargo Home Mortgage, eLynx' prominent early adopters include: AmSouth Bank, Accurate Document Service, Bank of Oklahoma, Fremont Investment and Loan, GB Home Equity, GN Mortgage, HSBC Mortgage, Irwin Mortgage, M&I Mortgage, New Century Mortgage, SunTrust Bank, Waterfield Mortgage, and World Savings. eLynx also private labels its services and maintains strategic partnerships with companies such as Fiserv, Interlinq and Epsilon(Relizon).

eLynx delivers unmatched EDD benefits today; provides seamless path to paperless environment of the future.

Launched in June 1999, with one customer and 800 deliveries per month, the eLynx network now serves 56 enterprise customers delivering to over 65,000 recipients nationwide -- including lenders, title companies, and closing agents in all 50 states.

"We expect continued rapid conversion to eLynx WPS in 2002," Huff added. "eLynx WPS is proven in use; in 2002, eLynx customers will account for over 25% of all mortgages originated. Over the last 18 months, we've sustained over 20% month-over-month volume growth. In 2002 alone, our business will more than double."

The customer who adopts eLynx today gains its immediate benefits, plus a seamless path to the paperless environment of the future.

Today's customer will experience enormous cost savings, the highest levels of security and dramatically improved customer service. And as the digital signature gains acceptance in the near future, eLynx will move users seamlessly to the all-electronic closing.

In addition, eLynx provides toll-free, 24x7 customer support, so that recipients have somewhere to turn should they have any difficulties.

Versus competitive systems, eLynx WPS provides:

-- Efficiency: with today's service demands and cost pressures, eLynx enables
lenders to do more with less. Processor productivity increases while customer
service improves.

-- Compatibility: ease of interface with any document origination system. eLynx
WPS enables processors to deliver eContent, without ever leaving their native
application.

-- Compliance: exact originals of the document -- not just images or
representations. Meets all federal, state and industry compliance requirements.


-- Reliability: eLynx WPS is always up and running -- no threat of the viruses
and hackers that plague many email-based solutions.

-- Security: documents are encrypted, compressed and delivered using
multi-tiered security throughout the delivery cycle. eLynx assures the
network's integrity via regular SAS70 audits by independent auditors.

-- Speed: delivery is instantaneous. No more slow, cumbersome, costly overnight
delivery.

-- Support: Fully staffed 24x7x365 for senders and recipients.

-- Ease of adoption and use: recipients need only Internet access and a web
browser to retrieve their documents. eLynx even assists with implementation and
adoption.

-- Low cost entry point and transaction-based pricing.

-- Cost savings of up to 75% versus overnight delivery.