Sharon Matthews likes solving complex problems and using technology and partnerships to do so. For the last eight years, Matthews has led eLynx’s evolution from a document company to a data document company.
Last year, eLynx acquired Pittsburgh, Pennsylvania-based Medallion Analytics Co., a provider of data automation services that help lenders and settlement services companies extract data from documents instead of relying only on image files.
The acquisition not only augmented eLynx’s product line with sophisticated data extraction and management software, but also added key title industry expertise to the company that will help expand its footprint of services.
“The products brought to market (as a result of the acquisition), will underpin this concept we have of a data-enabled mortgage so customers can have all the documents and data about those loans as well,” she said.
The best way for lenders to cost-effectively produce high-quality loans, keep up with increasing regulatory demands and meet investor requirements is to be able to track documents and the data in them throughout the loan life cycle, Matthews said at the time of the acquisition.
Cincinnati, Ohio-based eLynx is a portfolio company of American Capital Ltd. and its Expedite cloud-based platform and network supports a suite of on-demand document collaboration, distribution and connectivity services that can be deployed independently or as a fully integrated end-to-end paperless lending solution.
eLynx serves hundreds of financial institutions, including six of the top 10 lenders and 25 of the top 50 U.S. banks. The company has processed more than 50 million loans since its founding in 1994.
“Our strength has always been about delivering on our commitments to customers,” she said. “Our focus on reliability, quality and security are inherent in the needs of our customers.”
Matthews said eLynx’s unique products and deliberate choice to remain partner-neutral sets it apart.
“Our customers can choose the partners we bring or they can bring their own,” she said. “We call ourselves Switzerland. Collaboration is built into our DNA, which is a positive thing.”
Last year, eLynx was selected to participate in the CFPB’s eClosing pilot program, contributing to improving the mortgage closing experience for consumers. .
With compliance demanding the industry’s focus, Matthews has guided the company’s most intense effort ever in a short time frame to be production-ready for the TILA-RESPA Integrated Disclosure rule. The latest release of its Expedite platform in July included updates for lenders to comply with TRID. Lenders can use the TRID features in more targeted solutions to automate manual processes in their planned workflow or to enhance or reinforce their current TRID compliance offering, she said.
Matthews is forecasting dramatic growth for eLynx, which plans to release more TRID products in 2016-2017.
The Australia-born leader is a U.S. citizen and lives in northern California, traveling between the company’s headquarters in Ohio and operations in Beaverton, Oregon.
Prior to joining eLynx she brought 20 years of executive experience running large technology and software companies, holding senior leadership roles at Solectron Corp., UCMS Inc., Unisys and Wang Laboratories.
She’s adept at building management teams, orchestrating turnarounds, pursuing strategic acquisitions and integrating processes — skills that come handy in solving complex mortgage problems and compliance issues.
“I love the whole problem-solving piece of technology,” she said. “Bringing together a very complex process with a lot of parties in it and making things work, that makes me smile. When it all fits together and works, that’s pretty cool stuff.”