Black Knight's Industry-Leading Ernst Fee Service Now Integrated With Black Knight's Robust Property Tax Data
On May 20, 2021, Black Knight (NYSE:BKI) announced the integration of its Ernst Fee Service with nationwide property tax data. This integration enhances the accuracy and speed of tax estimates, benefiting lenders and their clients by reducing escrow shortages and ensuring compliance with CFPB standards. By providing reliable, current data sourced directly from taxing agencies, Black Knight aims to improve the borrower experience at closing. President Rich Gagliano emphasized the importance of these enhancements in increasing efficiency and borrower satisfaction.
- Integration improves accuracy and timeliness of tax estimates.
- Enhances borrower experience by reducing escrow shortages.
- Supports compliance with CFPB and TILA-RESPA regulations.
- None.
JACKSONVILLE, Fla., May 20, 2021 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that it has integrated the company's Ernst Fee Service with Black Knight's nationwide property tax data. Ernst Fee Service is Black Knight's comprehensive technology that helps lenders streamline the closing fee data process by delivering accurate, near- real-time Loan Estimate and Closing Disclosure fees. The integration with Black Knight's property tax data will help provide Ernst clients with significant benefits, including faster, more accurate tax estimates.
To deliver premier property tax data, Black Knight identifies all applicable taxing agencies – including state, county and subagencies – and then determines the most effective method of estimating taxes, which varies by geography. In addition, Black Knight collects tax data directly from the source and refreshes it on a regular basis, so Ernst clients will receive reliable and current information.
Armed with this industry-leading property tax data, lenders can provide their borrowers with an improved borrower experience at closing by reducing surprises with fewer escrow shortages. The tax data integration also supports compliance with the CFPB standard that requires lenders to provide consumers with the best property tax information reasonably available. In addition, lenders receive the tax data quickly to support compliance with TILA-RESPA timelines.
"Our focus is to provide robust fee solutions that help clients create efficiencies, mitigate risk, reduce fee cures and enhance borrower satisfaction. The integration with Black Knight's property tax data enables us to continue delivering these critical benefits to our clients," said Rich Gagliano, president of Black Knight Origination Technologies. "Now, Black Knight clients are able to more quickly and cost-effectively obtain accurate, nationwide property tax estimates, even for new construction."
About Black Knight
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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SOURCE Black Knight, Inc.
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