National City Mortgage Partners with eLynx for Electronic Document Delivery

National City Mortgage Selects eLynx



For Electronic Document Delivery







NCM cites service and security as driving factors in becoming the fourth top-ten lender to adopt eLynx WPS (Web Posting Service).











Cincinnati, OH: 13 September 2002 โ€" 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.







โ€œeLynx 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 โ€œfreeโ€ email delivery had become,โ€ said Bill Shuler, Senior Vice President of National City Mortgage.



โ€œeLynx 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.โ€







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 โ€" 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, โ€œWe'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.โ€







โ€œIn the case of National City Mortgage,โ€ added Casey Foreman, eLynx CEO, โ€œwe 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.โ€







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-



โ€œWhile 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 โ€œfreeโ€ email solution,โ€ said Shuler.



โ€œIn 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.โ€







The eLynx Web Posting Service makes electronic delivery simple โ€" 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.



โ€œWith the implementation of eLynx,โ€ added Shuler, โ€œwe'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.โ€











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.



โ€œAnd we'll be growing our savings in coming months as we incorporate eLynx' XML delivery status messages directly into our TMO application,โ€ said Shuler.







Security-



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







โ€œHigh profile privacy legislation such as Gramm-Leach-Bliley has quickly become a dominant consideration for all of us in the financial services arena,โ€ said Shuler, โ€œand 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.โ€











About National City Mortgage Co.



Founded in 1955, National City Mortgage Co., a member of the National City Corporation family, is a leading originator of residential real estate loans through a network of retail offices and wholesale/broker branches. The company has over 250 lending offices located in 37 states. The company's servicing portfolio totaled over $106 billion representing nearly 900,000 mortgage loans as of June 30, 2002.



Visit us on the Web at www.nationalcitymortgage.com.







About National City Corporation



National City Corporation (NYSE: NCC) is headquartered in Cleveland, Ohio and is one of the nation's largest financial holding companies. As of June 30, 2002, National City had total assets of $99 billion and total deposits of $57 billion. The company operates through an extensive distribution network in Ohio, Michigan, Pennsylvania, Indiana, Kentucky, and Illinois, and in selected national markets.



Its primary businesses include commercial and retail banking, consumer finance, asset management, mortgage financing and servicing, and card processing. National City's Web site can be found at www.NationalCity.com .







About eLynx, Ltd.



eLynx, based in Cincinnati OH, launched its secure EDD service in June 1999. eLynx WPS (Web Posting Service) interfaces with any existing system to deliver data and documents securely on the Web โ€" in a fraction of the time and cost of conventional overnight and mail services.



Throughout 2002, eLynx customers will account for over 25% of all mortgages originated. For more information regarding eLynx, Ltd., please visit www.elynx.com.











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