Black Knight said it has delivered new capabilities in the company’s Expedite Close digital closing solution to more easily facilitate fully digital real estate transactions.
“Unfortunately, with cases rising nationwide, COVID-19 will be impacting in-person closings for quite some time to come,” said Rich Gagliano, president of Black Knight Origination Technologies. “As such, the need for a comprehensive eClose solution has never been greater.”
The firm says that in addition to “leveraging advanced intelligence to choose the best, most permissible way to digitally close a loan for each jurisdiction, Expedite Close now offers detailed, document-by-document guidance to help borrowers through the closing package, allowing for a more efficient, contactless process, up to and including the remote online notarization (RON) of all necessary paperwork.”
Gagliano notes that “by giving borrowers access to the same knowledgeable insight into loan documents and line items they would typically receive in-person at the closing table, Expedite Close provides the detailed information and advanced functionality needed to complete an efficient and effective closing process in a timely manner, while operating in a secure, digital environment.”
Upon initiating an eClosing process through the Expedite Close platform, borrowers are provided “a clear overview of documents to be reviewed and signed, as well as individual tags within documents to help them make informed decisions as they complete the required tasks. These tags are configurable by the lender and help the borrower understand information within each document, such as monthly principal or interest payment amounts, prepayment penalties, and other items of importance. Expedite Close can guide borrowers through every step of the closing process, up to and including online notarization of required documents.”