Mortgage Tech Rundown: Black Knight, Finicity, and Docutech

The latest in mortgage and real estate technology

Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.

Black Knight, a provider of integrated software, data and analytics to the mortgage and real estate industries, announced the integration of its Ernst Fee Monitoring Service into the Black Knight Empower loan origination system.

The company said in a press release the service monitors real estate transaction fees, scanning on a daily basis for any changes that impact loans in a lender’s pipeline. When a change does occur, lenders are alerted within 24 hours and the system automatically recalculates fees and provides updated quotes using the lender’s original input values.

“The Ernst Fee Monitoring Service minimizes costly cures at closing and helps lenders better manage the settlement experience,” said Rich Gagliano, Black Knight Origination Technologies’ president. “Because it is integrated with Empower, lenders can more easily meet the TRID three-day disclosure requirement, create even greater efficiencies, and enhance consumer satisfaction by using a lights-out process for identifying, calculating and disclosing fee changes – something no other LOS on the market can provide.”

Real-time financial data access and insights company, Finicity, announced the release of its AssetReady Report, which will identify a borrower’s assets using consumer-permissioned data during a lender’s pre-qualification process.

As a result, the company says lenders will now be able to quickly qualify borrowers, therefore enabling a seamless transition into other-asset, income, and employment verifications needed in the loan origination process.

“Now lenders can receive more data earlier in the application process than ever before,” said Steve Smith, Finicity’s CEO. “This report will provide the opportunity for even more customization and better experiences for borrowers from their first interaction to close.”

Docutech, a provider of document eSign, eClose and print fulfillment technology, announced an integration with NotaryCam, a digital notarization company.

The integration provides borrowers with the ability to execute a complete RON eClosing ceremony in Docutech’s Solex eClosing platform by remotely connecting to the other parties through NotaryCam’s virtual audio connections, according to the company.

 “A significant barrier to ‘full’ eClosings is the antiquated model of notarization, in which document signers must appear in person before a notary to fulfill the document notarization requirement in the loan closing process,” said Rick Triola, NotaryCam’s founder and CEO. “Our world-class RON platform will now host Docutech’s Solex eClosing solution, enabling borrowers to remotely notarize key mortgage documents electronically and finalizing one of the last steps toward a full eClosing.”

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