Black Knight, Inc. has enhanced its digital closing solution Expedite Close with advanced intelligence and data recognition capabilities, the company announced.
Expedite Close now has the ability to automatically determine the best way to close any given loan based on a lender’s preferences and business rules, as well as jurisdiction-specific requirements, the company said.
“Expedite Close was already a game-changer for eClosings by seamlessly supporting hybrid or fully digital processes while also making sure settlement agents, lenders, real estate agents, consumers and investors had what they needed without requiring changes to current practices or systems,” said Mike Brown, general manager of Black Knight’s Lending Solutions division.
“But now it takes eClosing to a whole new level with advanced intelligence capabilities that automatically determine and execute on the best way to close a loan, based upon lender preferences and what a given jurisdiction allows,” Brown added. “This newest iteration of Expedite Close is yet another innovative solution Black Knight is bringing to market as we continue to help transform the industry.”
Expedite Close supports fully digital closings – including eSign, eNotary and eClose components. For closings that are not fully digital, Expedite Close automatically identifies and executes whatever combination of wet-ink and digital closing works best for the lender and/or the property jurisdiction, Black Knight said.
The solution also enables lenders to adopt digital elements at their own pace, without requiring the purchase of additional technology when the lender – or the jurisdiction – is ready to embrace completely digital closings.
“Right now, mortgage closing requirements are inconsistent and inefficient across the country, and even from lender to lender, or agent to agent,” Brown said. “Expedite Close was designed to meet the challenges of today’s closings, while delivering maximum benefit to our clients and their customers, and making the process – and implementation – as simple as possible.”