The company plans to release the first phase of the product later in 2018.
With Expedite Close, Black Knight provides an electronic closing fulfillment process that supports the needs of all parties to the transaction including settlement agents, lenders, real estate agents, investors, and consumers.
Taking advantage of Black Knight’s electronic signature and documentation fulfillment services, Expedite Close also features enhanced workflow capabilities as well as automation to support the closing process. Parties to the transaction can use Expedite Close with the portals, source, and document providers they currently use. Users can also integrate with Black Knight’s LoanSphere Empower loan origination system and LoanSphere MSP servicing system where needed.
Black Knight said the closing tool will support all customer interaction requirements. The product allows consumers to review and sign all of their closing documentation online and wet-sign documents that require a physical signature for jurisdictions not yet accepting electronic notarization. Consumers can also opt to wet-sign documents in the closing package. In this case, Expedite Close will provide the loan documentation to the settlement agent within the required timeframe, eliminating document-fulfillment workflow gaps.
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Black Knight has introduced LoanSphere Expedite Close, a new digital closing product that addresses data and document exchange, workflow, and processes requirements associated with real estate transactions.