Black Knight Launches New Fee Cures Suite Within the Actionable Intelligence Platform
Black Knight, Inc. (NYSE:BKI) has launched the Fee Cures Suite, a tool aimed at helping lenders minimize costly fee cures by integrating data analytics from its Actionable Intelligence Platform and Ernst Fee Service. This suite allows lenders to compare loan estimates and closing disclosures, identify trends, and drill down to specific loan attributes. By providing real-time insights into loan-level data, lenders can address preventable expenses associated with fee cures, which can average hundreds of dollars per loan, potentially saving millions across portfolios.
- Launch of the Fee Cures Suite aimed at minimizing costly fee cures for lenders.
- Integration of data analytics from AIP and Ernst Fee Service improves accuracy and efficiency.
- Real-time insights help lenders identify trends and reduce preventable expenses.
- None.
Allows Lenders to Track, Manage Fee Cures at the Loan Level and to Aggregate by Source
- The Black Knight Fee Cures Suite is an analytic tool that enables lenders to compare loan estimates and closing disclosures from closed loans to help minimize mandatory
0% and10% tolerance fee cures - A single dashboard combines loan information from the lender's LOS with Ernst fee data and analytics from the Actionable Intelligence Platform (AIP) to help the lender remediate costly trends and practices
- Lenders can quickly identify trends and drill down to causes by loan attribute, including city, state, county, loan type, fee type, loan officer, vendor, and number and size of cures
- Seamless integration with Empower provides Black Knight LOS clients with inline workflow access, putting the right information in front of the right person at the right time, helping to avoid costly cures
JACKSONVILLE, Fla., July 11, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics solutions, announced today it has combined the powerful analytics of its Actionable Intelligence Platform (AIP) with Ernst Fee Service data and the Empower LOS loan information to create the industry's first fee cure assessment tool integrated directly within the LOS workflow to help minimize mandatory
"As lenders struggle to maintain profit margins, fee cures are a preventable expense that can be addressed with better, more timely data," said Rich Gagliano, president of Black Knight Origination Technologies. "We have seen fee cures average hundreds of dollars per loan and over time, can add up to millions or even hundreds of millions of dollars at the portfolio level. Our new Fee Cures Suite allows lenders to identify trends, as well as drill down to loan-level data to reduce fee cures."
The AIP is a unified framework for analyzing data from multiple data sets to deliver strategic and actionable intelligence across the loan life cycle. It solves the industry challenge of leveraging "big data" from multiple, segmented databases to improve performance. Ernst Fee Service is used by lenders to minimize costly fee cures by providing accurate recording fees, transfer taxes, property tax, title, settlement, inspection data, and lender and appraisal fees. The new Fee Cures Suite combines these two industry-leading resources with LOS loan data into a powerful dashboard, allowing lenders to compare loan estimates with closing disclosure fees from closed loans, identify inconsistencies and implement checks and balances to increase efficiency and accuracy in helping mitigate future cures. Cures can be aggregated by the number and size of cures, as well as location (e.g., city, state, country), vendor, loan officer, loan type, fee type and more, to zero in on causes and facilitate timely corrective action.
"The integration of actionable intelligence and fee data in Empower is exactly the kind of innovation Black Knight has become known for," Gagliano continued. "By addressing lenders' urgent need for profitability and accountability in real time and at scale, the Fee Cures Suite helps lenders unlock previously inaccessible value in data they already work hard to collect and report."
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
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Black Knight, Inc. | Black Knight, Inc. |
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SOURCE Black Knight, Inc.
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