National City Mortgage Selects eLynx For Electronic Document Delivery

Business Wire, Sept 11, 2002

Business Editors, High Tech Writers

CINCINNATI--(BUSINESS WIRE)--Sept. 11, 2002

NCM Cites Service and Security as Driving Factors in Becoming the

Fourth Top-Ten Lender to Adopt eLynx WPS (Web Posting Service)

National City Mortgage (NCM), one of the nation's leading residential mortgage lenders, has named Cincinnati-based eLynx to provide secure delivery for mortgage data and documents via the Internet. After experiencing firsthand the pitfalls of an email-based document delivery system, the nation's #7 lender turned to eLynx for an enterprise-wide solution that would meet the service and security needs of their business. eLynx delivered.

"eLynx provided the perfect combination of experience, adaptability, scale, and service, for a process that we consider to be absolutely business-critical. They were able to address our security concerns and prove the value of their service by offering a superior product, exceptional support, and a price point that demonstrated how expensive our "free" email delivery had become," said Bill Shuler, Senior Vice President of National City Mortgage. "eLynx WPS integrates seamlessly with our existing enterprise systems, increasing processor productivity and ensuring our electronic delivery processes are compliant with emerging privacy and security regulations."

By partnering with National City Mortgage, eLynx further solidifies its position as the standard for secure electronic document and data delivery services in mortgage banking. The eLynx network is now comprised of more than 120,000 partners -- including mortgage originators, title companies and closing attorneys in all 50 states. Four of the top ten and 14 of the top 50 U.S. lenders now utilize eLynx WPS as their primary document delivery service. eLynx WPS (Web Posting Service) is the mortgage lending industry's premier electronic delivery vehicle.

Said eLynx President Phil Huff, "We're proud to welcome National City to the eLynx network. As part of the implementation process, our engineers employed our second-generation conversion software to Web-enable their loan documents and streamline their delivery process. Today, it's about more than just sending documents over the Internet. Each client has a unique set of needs and business processes, and we see it as our job to provide value each step of the way."

"In the case of National City Mortgage," added Casey Foreman, eLynx CEO, "we were able to foster the transition from their existing delivery process to a secure, auditable system. Now, they're able to send secure documents in real-time, directly from their enterprise system. And as part of our efforts to accelerate the ROI through pre-registration, our client services team is finding National City recipients eager to come aboard with another eLynx-enabled lender."

Proof positive: eLynx offers service, savings and security in EDD

In choosing eLynx as its EDD provider, National City Mortgage recognizes the unique offerings of this leading e-delivery service:

Service-

"While our email-based delivery solution provided a limited amount of success, we were seeing the impact of security-conscious networks that prohibited email attachments, and our help desk was experiencing record numbers of service calls, significantly adding to our cost of a "free" email solution," said Shuler. "In the final analysis, our limited success rate was also limiting our cost savings as frustrated closers reverted back to more costly, and slower, paper delivery."

The eLynx Web Posting Service makes electronic delivery simple -- data and documents are delivered directly from any origination system through a secure document hub, without altering the integrity of the document set. Recipients download and print documents via a unique, customer-specific, secure Web site and the free eLynx Print Utility. "With the implementation of eLynx," added Shuler, "we're able to leverage their expertise and infrastructure to provide us with our own, custom-tailored, highly reliable, EDD solution that meets our demands for business-critical applications."

Savings-

In comparison to traditional overnight document delivery services, eLynx users save up to 75%. Instead of printing, copying, collating and couriering document packages, eLynx users can send and receive documents in real-time, ensuring fewer documentation errors and more on-time mortgage closings. "And we'll be growing our savings in coming months as we incorporate eLynx' XML delivery status messages directly into our TMO application," said Shuler.

Security-

In comparison to email-based electronic delivery solutions, there is no comparison. eLynx provides a completely integrated, secure delivery channel -- capturing, compressing and encrypting the native printstream language of data and documents, for the most rigorous security parameters available.

"High profile privacy legislation such as Gramm-Leach-Bliley has quickly become a dominant consideration for all of us in the financial services arena," said Shuler, "and eLynx' multi-layer security model, documented by yearly Level II SAS 70 audits, and opportunities to visit their highly secure facilities in a world-class hosted environment, made the selection of eLynx very comfortable for us. eLynx is indeed a partner we can trust."