Mortgage lenders can compress the time required to close a loan and reduce processing costs as a result of a partnership between Harland Financial Solutions, Inc. and Entyre, a leading provider of document management solutions.
Harland Financial Solutions is a wholly owned subsidiary of John H. Harland Company (NYSE:JH).
Using Web-services integration between Entyre's system and Harland Financial Solutions' INTERLINQ E3 loan production platform, lenders can expedite closings by enabling originators to generate compliant closing packages for investor loan programs. Entyre uses compliant GreatDocs documents, also from Harland Financial Solutions, adding value through investor management expertise and a collaborative Web-based platform that reduces the need for rework.
One INTERLINQ E3 lender using Entyre's eMortgage X4 system is Primary Capital Mortgage in Atlanta, a Southeastern lender that closed $1 billion in mortgages in 2004.
"To help Primary Capital continue to expand across states, we knew we needed to maximize the efficiency of our compliance and document delivery process," said George Phelps, president of Primary Capital Mortgage. "Now, we don't miss a beat if we're closing a new type of loan in a new state."
The combination of INTERLINQ E3 and the Entyre system has already helped Primary Capital improve both efficiency and loan quality. "Last month, we closed 520 loans with three closers," Phelps said. "We had zero post-closing issues with those packages."
With planned round-trip integration between the two systems, Phelps added, "Primary Capital will soon be able to offer brokers the ability to draw up their own documents."
Another lender using INTERLINQ E3 that has licensed Entyre's eMortgage X4 system is Eagle Home Mortgage in Kirkland, Washington.
"Mortgage lenders using INTERLINQ E3 can choose to close some or all of their loan programs through Entyre's document management system," said Joe Filoseta, vice president of industry and product strategy for Harland Financial Solutions' Mortgage Solutions Group. "The result is worry-free investor compliance, better quality loans, fewer errors and better customer service at the closing table."
The INTERLINQ E3 Web-based loan production platform provides critical business process management, integration and connectivity across the mortgage supply chain, enabling lenders to integrate service providers into their business process. As of August 1, 2005, more than 225 mortgage lenders have installed the INTERLINQ E3 system.
Harland Financial Solutions acquired the GreatDocs electronic document business in mid-2004. The Entyre partnership enables INTERLINQ E3 customers to use GreatDocs documents in-house or through the Entyre system.