Black Knight's Digital Closing Solution Helps Determine the Best Way to Close a Loan

Expedite Close Enhanced With Advanced Intelligence Capabilities

-- Expedite Close uses advanced intelligence to determine the best way to close a loan based on lender preferences and jurisdictional requirements, whether wet ink, digital or hybrid

-- Fully supports eClose, eNotary and eSign, as well as traditional wet-ink mortgage closings

-- Solution instantly analyzes packages of static loan documents, creates live, searchable data from their contents and determines which can be digitally signed

-- Expedite Close's consumer-facing portal significantly enhances the borrower experience

-- Post-closing capabilities aggregate and fully audit all documents, digital and wet-signed, and deliver a unified, searchable closing package

News provided by

Black Knight, Inc.

Jan 16, 2019, 09:00 ET

JACKSONVILLE, Fla., Jan. 16, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, announced the company's Expedite Close digital closing solution has been enhanced with advanced intelligence and data recognition capabilities. Already able to support traditional wet-ink, digital or hybrid mortgage closings, the newly enhanced Expedite Close adds the ability to automatically determine the best way to close any given loan based upon a lender's preferences and business rules, as well as jurisdiction-specific requirements.

"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. 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."

Whenever possible, 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, saving significant cost and time. Expedite Close 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.

This innovative closing solution also digitally audits the entire closing package at completion. Additionally, advanced document-recognition capabilities enable static PDFs of closing documents to become searchable, eSignable and data-centric, allowing Expedite Close to streamline the post-closing process. These innovative capabilities not only introduce greater speed and efficiency into the closing process, but also support consistency throughout the entire process.

Expedite Close significantly enhances the consumer experience by providing a more streamlined closing with the ability to review all necessary documents before the actual closing and eSign-appropriate documents. Lenders and settlement agents not only benefit from improved borrower satisfaction, but also from reduced risk and enhanced efficiencies without having to significantly alter their current processes.

"Right now, mortgage closing requirements are inconsistent and inefficient across the country, and even from lender to lender, or agent to agent," said Brown. "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."

About Black Knight
Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.