The post-pandemic business landscape is totally different from what we were used to just a few years ago. As the world races towards increased digitization, mortgage professionals are striving to keep up with the demand for convenient lending solutions that allow borrowers to navigate the process from the comfort of their own homes. One of the most notable of these solutions has been the introduction of eClosings.
Black Knight, a leading provider of integrated software and data analytics solutions, is at the forefront of offering intuitive digital closings that support all forms of closing. From fully online to wet-sign and hybrid options, the end-to-end solutions Black Knight brings to the table are designed with the purpose of helping lenders select the best way to close each loan while providing a simplified closing process with lower costs and improved customer outcomes.
The eClose technology used by Black Knight solves many of the common pain points that have traditionally been associated with eClosings, allowing lenders to focus more on a smooth transactions and customer satisfaction.
“Our eClose technology leverages intelligent analytics to systematically select the best way to close each loan,” said Joe Nackashi, chief executive officer of Black Knight. “It uses client-defined rules, built-in logic and transaction data to identify factors like jurisdiction requirements, consumer preferences, settlement agent processes and investor requirements, to determine if the closing should be fully digital, paper or a hybrid of both.”
With a seamless digital close experience that connects all participants in a real estate transaction and allows them to collaborate securely online, Black Knight has set the stage for a flexible work experience for everyone involved.
Once the eClosing process is initiated, borrowers are presented with a clear overview of their documents and are assisted along the way by helpful tags that provide important information about what they are signing, assisting every customer in making an informed decision.
“As borrowers review and sign the closing documents, they are given lender-specific, detailed information on a document-by-document, line-by-line basis – insight that is typically given at the closing table,” said Kirk Larsen, president & CFO of Black Knight.
From there, documents that require notarization can be handled with Black Knight’s Remote Online Notarization (RON) solution. By connecting signers with online notaries through secure video conferencing while verifying the content of each digital document, borrowers can feel confident that they are protected against the risk of forgery, fraud or theft.
While we are no longer constrained by pandemic restrictions, the demand for digital solutions isn’t showing any sign of diminishing and Black Knight continues to listen to the desires of their borrower base.
“More than ever, borrowers look for and expect to close their loans digitally, from the initial loan application through the final review and approval of their loan package,” said Rich Gagliano, president of origination technologies at Black Knight. “By further integrating Black Knight’s eClose, eNote, eNotarization, eSign and eVault capabilities, lenders can serve their borrowers’ needs by expanding their digital ecosystem, resulting in a true eMortgage experience”.
Joe Nackashi, Chief Executive Officer
Joe Nackashi leads the company’s overall vision and direction for Black Knight to provide premier solutions and services for many of the nation’s largest lenders and servicers.
Kirk Larsen, President & CFO, Black Knight, Inc.
Kirk Larsen provides overall strategic direction to Black Knight’s operating groups to maintain a laser focus on delivering solutions to clients, as well as providing overall financial management of the company.
Rich Gagliano, President, Origination Technologies
Rich Gagliano is responsible for the overall strategy and product direction of Black Knight’s origination technologies.
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