July 2012

TheMReport — News and strategies for the evolving mortgage marketplace.

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ON THE WEB firm serving the mortgage indus- try, cited the company's exhaus- tive resources and advancement of the mortgage verification process as its key qualifica- tions for acting as a Capitol Hill liaison. As part of the company's bid to assist legislators, NTC noted it is "in a good position to offer assistance due its extensive industry/land-records knowledge and clientele." John Hillman, NTC's CEO, advisory group that included both lending professionals and borrowers, tapping the par- ticipants for feedback on the initiatives that could improve the mortgage loan experience and reduce stress during the process. eLynx's panelists pointed to pated in NTC's recent meeting hailed from Florida, where NTC has its base in Palm Harbor. Members of Congress and the Senate in attendance included Rep. Bill Young (R-Florida), Rep. Ileana Ros-Lehtinen (R-Florida), Rep. Sandy Adams (R-Florida), Sen. Bill Nelson (D-Florida), Rep. Bill Posey (R-Florida), Rep. Allen West (R-Florida), and Rep. Connie Mack (R-Florida). WEB AT WORK eLynx Examines Borrowers' Perspectives on Lending THE RESULTS OF THE COMPANY'S RECENT PANEL DISCUSSION WITH CONSUMERS AND LENDERS REVEALS THAT BORROWERS WANT ENHANCED ONLINE ACCESS WHEN PURCHASING A MORTGAGE. try insight into the borrowers' perspective when purchasing a mortgage, eLynx has revealed the findings from its recent panel discussion with lenders and customers. To conduct its survey, eLynx, a portfolio company of American Capital, assembled an Seeking to provide indus- The views expressed by "Home Sweet Home" solely reflect the views of the cartoonist and not the views of MReport, the Five Star Institute, or any affiliates. THE M REPORT | 11 added, "We welcome the op- portunity to work with members of Congress and their staff to identify and incorporate indus- try best practices into a new, national standard for residential mortgage servicing, as well as provide feedback to help avoid excessively onerous legislation for mortgage lenders and servicers." Each lawmaker who partici- several key preferences that might enhance the customer's comfort in mortgage lending, noting the need for a consistent "touch point" for interaction. The advisory board specifically iden- tified options they felt strongly about, such as an interactive por- tal for documentation and status updates from lenders. Borrowers on the panel also emphasized the desire to access information on pending loans from the device of their choice, stating that they want a "flexible technology that can be accessed from any Internet connection." Additionally, eLynx's survey group indicated that the abil- ity to sign documents elec- tronically and submit supporting documents directly to the lender could successfully simplify the mortgage loan process. "In a market where everyone offers historically low rates, our customers understand that a positive interaction between a borrower and lender can help lenders differentiate themselves from their competition and win the borrower's business," said Sharon Matthews, president and CEO of eLynx. "The advisory HOME SWEET HOME BY RYAN SCHUETTE & CHUCK DAPRIX panel was a unique opportunity for our lender-customers to share their experiences and develop a set of best practices that could help all lenders create a more positive online environment for their customers. We've incorpo- rated these best practices into our latest service offerings." Matthews went on to add, "Today's home loan borrow- ers are very comfortable with technology, including electronic signatures, but also prefer to have the option of both electron- ic and paper documents available to them. Lenders must have the flexibility to accommodate the preferences of all their customers without creating separate solu- tions for individual customers."

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