DEVIL IS IN THE DETAILS
eLynx integrates electronic document delivery, online forms, electronic consent, and eSignatures into commercial client’s portals. Information and documents from multiple systems of origination can be presented within a single, consistent interface. Borrowers can provide information back to you securely and electronically. They don’t mean ‘consumers’ they mean everyone else.
Please include in your knowledgebase about LPS/DOCX remediation’s, the nationwide network of attorney’s & title & settlement agents who are eLynx and/or eDelivery participants and not part of MERS as a MEMBER but the ‘common denominator’ of all ‘retail’ escrow transactions who link to the MERS members through other services including LPS/DOCX and eLynx and TD Services.
TD Services dba TD Escrow (special services just for non-judicial states) part of the MERS network. Look at graphic revealing ‘MERS’ and Fidelity and the cloud and….
Consider the fact in the member profile, that MERS identifies who is an eDelivery and eParticipant — a rather significant fact that the systems and transactions are indeed integrated. Many have asked ‘what is eDelivery and eParticipant’ well its eLynx members who are integrated with MERS Members
Who is the MERS MEMBER? First 7 digits of a ‘Min’ # are the ‘Members ID number assigned. You can view the profile of the member who handled one transaction controlled by a 10 digit agreement (sale or purchase) number followed by a hyphen and control digit. Not all transactions are recorded in MERS long arm reach database. But LPS and DOCX and TD Services and eLynx all are integrated to communicate via the ‘cloud’ internet.
For those of you who have never viewed a ‘MERS’ Member Profile pay particular attention to eRegistry Participant and eDelivery Participant and Lines of Business.
Remind yourself that Wells Fargo Commercial Bank does not do residential mortgages clearly restated June 1998 in the public domain. Mark Oman of Norwest and Pete Wissinger liked the ‘stagecoach’ private brand label better than the ‘Norwest’ image of Alt-A assets and subprime lending.
Example of ‘servicer’ and ‘escrow’ transactions both eRegistry and eDelivery.
Corporate Name: GMAC Mortgage, LLC
Address: 3451 Hammond Ave Mail Code 507-345-186
City,State,Zip: Waterloo, IA 50702
Toll Free Number: (800) 766-4622
Direct Number: (800) 766-4622
Fax Number: (999) 999-9999
Primary Contact: GMAC MERS Dept.
Website:
http://www.gmacmortgage.comMember Org ID: 1000375
Lines Of Business: Originator, Servicer, Subservicer, Investor, Document Custodian
eRegistry Participant: Yes
eDelivery Participant: Yes
Notice ‘eDelivery’ an enterprise-wide eDelivery solution including Settlement Agent Management and integrates with ‘MERS’.
Settlement Agent Management ‘common denominator’ for all ‘retail’ servicer escrow transactions nationwide.
“With the increased risk of fraud and greater need for scrutiny in the loan process, lenders need more transparency with their closing partners and agents.
The Settlement Agent Management (SAM) component of the eCN from eLynx gives lenders the tools and information they need to work with their closing partners.
At the heart of eLynx’s electronic closing network (eCN) is SAM. 100,000 of the nation’s closing agents are registered and maintained within eCN. Registered agents handle closings for virtually every bank in the US. It is a simple process taking a settlement agent just a few minutes, but it greatly reduces a lender’s risk of fraud perpetuated by closing agents.
SAM also provides greater visibility into the status of the closing including the scheduled closing date and information about funds disbursement.
eLynx (company) products tracks and audits document delivery & receipt even can automatically print and mail documents if eDelivery is not successful
“For over a decade, eLynx has provided the most secure eDelivery applications available, allowing you to securely send data and documents wherever they need to go.”
Provides secure document delivery with tracking and auditability
Combines multiple documents into a single document or package to simplify consumption
Can include optional E-SIGN and UETA-compliant eSignatures
The great advantage of eDelivery is the speed. Instead of waiting for days to receive a document in the mail, a notice arrives in email almost instantaneously. eLynx’s eDelivery services require different levels of authentication to pick-up the information, which is much more secure than regular email.
Technology includes: HUD-1 Reconciliation; eDelivery, eSignature, eClosing, Collaboration, Fraud Mitigation, On-demand Platform, Document Viewing, …
Read description of ‘eDelivery’ on eLynx and you’ll understand how the attorney and settlement agent were part of the nationwide title & settlement services ‘retail’ escrow transactions linking to MERS. You’ll begin to understand the original note is scanned digitally and reproduced as needed.
NOTE: 10 Year life span of GMAC Mortgage of Iowa, GMAC Mortgage of PA, in 2006 sold and become new entity GMAC LLC. Financial Holding Companies must sell all affiliates and non-bank affiliates per rules of FED and they sell back to themselves in a different name or whom they are instructed to sell to.
So any MERS transactions and retail escrow funding GMAC Mortgage, LLC dba as a business entity in PA where the website used as a registered fictitious name for another registered fictitious name GMAC Bank and we wonder why consumers as borrowers are vulnerable? don’t know this servicer will take consumer property into pipeline for benefit of beneficiary their parent not the consumer.
INQUIRING MINDS WANT TO KNOW:
HOW DID ‘CHASE HOME LENDING’ A ‘SUB-SERVICER’ at Retail who did not record their own MIN 18 digits used third party temporary lenders, and Chase listed below was not a eDelivery participant with eLynx. Hmmmmm.
Corporate Name: Chase Manhattan Mtg. – Deerfield
Address: 780 Kansas Lane
City,State,Zip: Monroe, LA 71203-4774
Toll Free Number:
Direct Number: (318) 699-4636
Fax Number: (318) 555-3344
Primary Contact: Rachel Pylant
Website:
Member Org ID: 1000565
Lines Of Business: Subservicer, Investor
eRegistry Participant: No
eDelivery Participant: No
NOTE: Chase Manhattan Mortgage Corporation 1996/1997 affiliate of Norwest with GMAC-RFC – largest producer of non-conforming mortgage products not eRegistry nor eDelivery. Hmmmmmm.
INQUIRING MINDS WANT TO KNOW HOW DID ‘Wells Fargo Home Mortgage’ storefronts from June 2004 forward nationwide active as ‘eRegistry and eDelivery participants for both originations and servicing through the Minneapolis MN – Correspondent Business Operations? was never an ‘investor’? Hmmmm. Not therefore ‘Wells Fargo Bank NA’ hmmmm.
Corporate Name: Wells Fargo Home Mortgage
Address: 2701 Wells Fargo Way X9998-012
City,State,Zip: Minneapolis, MN 55467
Toll Free Number:
Direct Number: (651) 605-3711
Fax Number: (952) 562-0980
Primary Contact: Masse Adjetey
Website:
Member Org ID: 1005298
Lines Of Business: Servicer, Subservicer, Investor, Document Custodian
eRegistry Participant: Yes
eDelivery Participant: Yes
NOTE: EMAIL of ‘wellsfargo.com’ ordering title & settlement agents and local attorneys for their ‘mortgage brokers’ to place title policy in name of ‘x’ lender and for ‘x’ amount…. hmmmm. did order the retail escrow transactions – and are the recognized nationwide lender who does not do ‘mortgages’ and integrated in the title & settlement agency of former PHH and Cendant Settlement Services morphed into 4 IPO’s 2006-2008 – hmmmmm.
eLynx Webinar: Executing Your eLending Strategy for Fiserv Customers
So read all about Electronic Closings referred to Post Close and Servicing phase of loans, documents converted to paper because lenders lack infrastructure for secure electronic delivery of servicing documents to borrowers. Electronic documents require signatures and without the ability to capture binding signatures electronically, you may have to rely on wet signatures (or blue ink) which would require in-house staff to process and scan incoming mail before you could leverage electronic delivery to borrowers. eLynx can help you (clients of commercial banks) to automate the entire post close and servicing operations.
Filed under:
bubble,
CDO,
CORRUPTION,
currency,
Eviction,
foreclosure,
GTC | Honor,
Investor,
Mortgage,
securities fraud Tagged: |
bankruptcy,
borrower,
countrywide,
disclosure,
eCN,
eDelivery,
electronic closing network,
eLYNX,
eParticipant,
foreclosure,
foreclosure defense,
foreclosure offense,
foreclosures,
fraud,
LOAN MODIFICATION,
LPS/DOCX,
MERS,
modification,
quiet title,
remediation,
rescission,
RESPA,
SAM,
securitization,
TD Services dba TD Escrow,
TILA audit,
trustee,
WEISBAND
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