Black Knight’s loan origination system is about to get an upgrade, as the company announced Tuesday that it acquired Ernst Publishing, a provider of technology and closing cost data for the real estate and mortgage finance industries and previous honoree as a HousingWire Tech100 winner.
Ernst provides transfer taxes, as well as recording, title premium, endorsement and settlement fees, along with providing access to property tax and inspection fees.
And now, Black Knight plans to “tightly integrate” Ernst’s offerings into its loan origination solutions, while also making Ernst’ technology and data available to companies that do not currently use Black Knight’s Empower loan origination system.
According to Black Knight, it plans to enhance its existing fee engine using Ernst’s capabilities, including recording fees, transfer taxes, inspection fees, property taxes and title premium fees.
The company said that this integration will create a “unified access point for all fee-related needs.”
“Without a doubt, Ernst is the leading provider of fee and tax data in the industry,” Rich Gagliano, president of Black Knight’s origination technologies division, said.
“By tightly integrating this technology and data into our origination product suite, we are able to better serve our existing clients,” Gagliano added. “This is another step forward in our mission to provide a truly end-to-end origination solution, which will be unparalleled in the industry.”
Black Knight said that existing Ernst clients will be able to continue using the company’s offerings now that the company is part of Black Knight.
“Ernst and Black Knight share very similar goals -- to create innovative solutions that transform the industry, support regulatory and compliance requirements, and create a better borrower experience,” Ernst CEO Greg Teal said. “As the leading provider of software, data and analytics to the mortgage industry, we are confident that Black Knight will take the capabilities Ernst is known for and elevate them to the next level to help advance the industry.”
Financial terms of the deal were not disclosed.