Electronic Delivery of Loans Eliminates Faxes

• Published in: National Mortgage News Vol. 24; no. 46; p. 28
• Main Author: Kersnar, Scott
• Format: Journal Article Trade Publication Article
• Language: English
• Published: New York SourceMedia, Inc 07.08.2000; SourceMedia dba Arizent
• Subjects: Cost control; Facsimile transmission equipment; Internet; Mortgage brokers; Mortgages; Postal & delivery services; Service introduction; Subprime lending; United States > US
• ISSN: 1050-3331

eLynx says there is no comparison between its WPS system and email, saying that while email allows quick, convenient transmission of free-form text messages, email infrastructures don't have the capacity to handle high volumes and provide the level of automation, security, reliability and verification needed for B2B transactions between lenders and brokers. Moreover, eLynx WPS is not subject to the virus threat bedeviling email. The mortgage industry is not alone in seeing a need to convert to electronic delivery of documents. eLynx points to figures showing that while U.S. businesses create over 90% of their documents in digital form, they turn around and spend more than $150 million annually to convert them to paper for delivery by courier, fax, and first class mail. eLynx WPS offers to enable companies to save time and money by sending documents in digital form. Recipients need only a standard Web browser and eLynx's free print utility to receive documents.