Black Knight Financial Services’ Closing Insight, a set of web-based solutions designed to automate the numerous multi-party processes required to close a loan, will be integrated with Empower, Black Knight’s end-to-end loan origination system, helping lenders oblige with the Consumer Financial Protection Bureau’s Integrated Mortgage Disclosures rule.
As a result, it will provide lenders with seamless access to system-of-record data required for the loan closing process.
Empower is an ASP-hosted, loan origination and web portal solution that supports both retail and wholesale channels and helps lenders electronically capture, process and close loans.
Meanwhile, Closing Insight is a solution that streamlines the loan closing process, helping lenders comply with their obligations under the CFPB’s rules.
“Clients will be able to seamlessly connect to Closing Insight directly from the Empower system without leaving the loan origination platform,” said Jerry Halbrook, president, Origination Technologies, a division of Black Knight Financial Services.
“Black Knight is focused on integrating its innovative technologies to create an end-to-end process for lenders. This integration of Closing Insight with Empower is another example of how Black Knight can help lenders realize significant process gains, while supporting timely loan closings to help lenders satisfy their regulatory obligations and provide a better borrower experience,” Halbrook continued.