Cincinnati-based eLynx has announced its compliance with all guidelines recently published by the IRS for obtaining electronic signatures on Form 4506-T, Request for Transcript of Tax Return.
According to the company, eLynx's eSignature service addresses all requirements from initial authentication and consent to maintaining a tamper proof seal and audit trail of the transaction. eLynx can provide an electronically signed 4506-T with all supporting data to any IRS Income Verification Express Service participant.
‘This was the last industry hurdle to achieve a fully electronic set of disclosures, and to move mortgage lenders closer to a paperless mortgage,’ says Sharon Matthews, president and CEO of eLynx. ‘Banks will see a significant reduction in processing time and costs, an increase in accuracy and transparency, and [will] deliver a better borrower experience. The IRS's decision demonstrates how government and commercial entities can come together on initiatives that benefit the entire industry.’