eLynx Examines the Borrowers’ Perspective on Lending

Seeking to provide industry insight into the borrowers' perspective when purchasing a mortgage, ""eLynx"":http://www.elynx.com/ has revealed the findings from its recent panel discussion with lenders and customers. To conduct its survey, eLynx, a portfolio company of ""American Capital"":www.americancapital.com/, assembled an advisory group that included both lending professionals and borrowers, tapping the participants for feedback on the initiatives that could improve the mortgage loan experience and reduce stress during the process.

[IMAGE]

eLynx's panelists pointed to several key preferences that might enhance the customer's comfort in mortgage lending, noting the need a consistent ""touch point"" for interaction. The advisory board specifically identified options they felt strongly about,

[COLUMN_BREAK]

such as an interactive portal 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 ability to sign documents electronically 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 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 incorporated these best practices into our latest service offerings.""

Matthews went on to add, ""Today's home loan borrowers are very comfortable with technology, including electronic signatures, but also prefer to have the option of both electronic and paper documents available to them. Lenders must have the flexibility to accommodate the preferences of all their customers without creating separate solutions for individual customers.""