products+services
eLoanFolder® Electronic Document Communications Workspace
Every day, businesses face the challenge of interacting and exchanging documents securely with customers, colleagues, and third parties. With the move towards a paperless workflow, which in many industries is essential to remaining competitive, the challenge compounds. Is it possible to start conducting business electronically with your customers, colleagues, and third parties today while maintaining the strict standards of security and reliability essential to your business? And is it possible to get there quickly, cost-effectively, and without disrupting your ongoing operations?
With eLynx, the answer is yes!
eLynx eLoanFolder (eLF) is a paperless business process workspace hosted on the largest secure document communications network in the financial services industry. It links you to customers, colleagues, partners, and third parties on both sides of your firewall.
eLoanFolder-Enabled Paperless Processes
Create a highly secure, highly available virtual workspace for your workgroup.
Use eLoanFolder's virtual file cabinets and electronic folders to replace the paper folders, metal file cabinets, and storage boxes that bury your business under an avalanche of paper.
Add documents and files from any source, in any format—paper or electronic—into your paperless workspace.
Organize your documents exactly as you do your paper files or take advantage of the power and flexibility of eLoanFolder to refine or reinvent your business processes.
Interact and collaborate with all the parties to the business process, securely, in real time, and without all the paper.
eLoanFolder enables you to move your business processes from your desktop and file cabinets to a paperless workspace without forcing outside participants to abandon their paper-filled world. Your paperless initiatives are no longer held back by their reliance on paper.
On-Demand Solution is Fast to Market
Embracing new technology usually creates a drain on IT resources and capital budgets. It can also lead to long, expensive implementation projects that delay ROI and can cost you any competitive advantage the new technology might deliver. The eLoanFolder Communications Workspace is a flexible, on-demand solution that can be customized to support and enhance business processes throughout your enterprise. Because it is available on-demand, capital investment and implementation costs are greatly reduced or eliminated, as are implementation times. You are able to realize benefits almost immediately, without long payback times. Plus, because eLoanFolder is so flexible, it is easy to plan an incremental transition from paper-based processes to paperless workflow. As your business grows and changes, eLoanFolder can grow with your business and dynamically support your needs today and your future requirements.
How it Works 
eLoanFolder provides a new dimension to document communication—a paperless workspace where documents and files can be captured, managed, shared, reviewed, and approved, and from which document sets can be delivered to anyone with an Internet connection. Workgroup members can have direct secure access to your eLoanFolder Communications Workspace. Depending on permissions levels you control, workgroup members can have full access to all electronic folders and virtual file cabinets in the workspace or you can limit access and capabilities, just as you might for paper folders and file cabinets.
Challenge of e-Collaboration with outside parties
Many organizations using electronic collaborative systems struggle with how to bring outside parties into the process electronically without giving them system accounts. A feature unique to eLoanFolder gives you the ability to allow outside participants to fax, upload, and print directly to an electronic folder without needing an account. This makes it possible to interact and collaborate with all the parties to the business process, both within your workgroup and outside of your workgroup.
On-ramp for Paperless Workflow
eLoanFolder not only provides an on-demand solution to paperless workflow interaction and collaboration today, but as an extension of the eLynx Document Communications network, eLoanFolder provides an on-ramp to other solutions that may be issues in the future. For example, eLynx's eSignature and eDisclosures solutions can help eliminate paper-based disclosures and consents while integrated opt-out to paper eliminates the need to run dual paper and e-processes.
Applications
eLoanFolder can be an invaluable tool in helping mortgage companies reduce unnecessary paper in their workflow and shorten the elapsed time it takes to close a loan. Some examples:
Applications and Disclosures
Users can set up an eFolder for a borrower when the application is taken. The disclosure can be added to the eFolder as soon as it is created and delivered electronically to the borrower or printed and mailed by eLynx. A fax cover page including an Upload Permit can be added to the disclosure package with instructions to fax the signed disclosure back to the eFolder. When the fax of the signed disclosure is received by eLoanFolder, the Lender is notified of its arrival and the fax is automatically placed in the correct eFolder based on the Upload Permit on the fax cover page. The lender then has a signed disclosure back in their eFolder days sooner than if they had waited on the disclosure and signature to be mailed and returned.
Documentation and Verification
Today, when a user applies for a loan, they start by collecting the paper documents required for underwriting, such as W-2s, pay stubs, and bank statements. They then either bring the paper documents in to the lender who makes copies of the documents, files them and logs them in, or they fax them to the lender, again requiring manual processing by the lender. With eLoanFolder, lenders can create an eFolder for the borrower and electronically send the borrower a fax cover page that serves as an Upload Permit for their eFolder. As the borrower assembles the underwriting documents, they can fax the documents along with the cover page directly to their eFolder. This eliminates all of the manual paper processing by the lender and dramatically streamlines the approval process.
Underwriting
Often there is a delay in the loan processing workflow while credit packages are sent to underwriters for sign off. Typically processors and loan officers will wait until the credit package is complete and then send a paper folder containing the documents to the underwriters. eLoanFolder can eliminate this delay and the manual processing associated with it. Loan officers can submit partial or complete credit packages to underwriting, who can start reviewing the package immediately. As soon as the last document is received from the borrower, the underwriter has almost instant access to the complete package, and can respond much more quickly.
Post Closing
Since virtually all of the loan documents are already in the eFolder, lenders can simply scan the signed closing documents into the eFolder and have a complete file ready for archive or to delivery to investors, using eLynx Investor Delivery. Lenders can also elect to have eLynx archive eFolder contents to a DVD for offline, long-term storage or export the entire eFolder contents to an external imaging system.
Implementation
There is no hardware to install with eLoanFolder. The only required software is SwiftSend Publisher 3.0, the latest generation of eLynx package builders and virtual printers, and SwiftView Viewer, the primary document viewer. Implementation is strictly a matter of configuration and training.
More Information
Click here contact an eLynx Sales Manager to schedule a personalized demonstration.