Black Knight Signs Agreement to Integrate Wolters Kluwer's eNote and eVault Capabilities to Enhance Black Knight's Digital, End-to-End Mortgage Origination Offering
Black Knight, Inc. (NYSE: BKI) has announced an agreement with Wolters Kluwer Compliance Solutions to integrate eNote and eVault capabilities into its Expedite Close digital closing solution. This partnership aims to enhance the digital mortgage process by providing lenders with essential tools to perform seamless digital closings. Black Knight's solutions will allow for cost savings per transaction and a streamlined process that securely stores data in the eVault. The integration is expected to support lenders in creating and managing digital loans while ensuring compliance with industry standards.
- Integration of Wolters Kluwer's eNote and eVault enhances Black Knight's digital mortgage capabilities.
- Cost savings per transaction for lenders using the integrated solution.
- Supports a fully digital mortgage process, increasing efficiency in loan management.
- None.
JACKSONVILLE, Fla., Feb. 16, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced an agreement with Wolters Kluwer Compliance Solutions, a global information services and technology leader, to integrate Wolters Kluwer's eNote and eVault capabilities with Expedite Close, Black Knight's digital closing solution. Black Knight, which already offers innovative eSign, eClosing, and remote online notarization (RON) solutions, will integrate Wolters Kluwer's eNote and eVault solutions with Expedite Close as the final pieces to connect all the tools lenders need to perform a digital closing and complete a digital mortgage.
"Lenders need five key capabilities to close digitally: eSign, eClosing, eNotarization, eNote and eVaulting. By integrating with Wolters Kluwer's technology, we have closed the loop on delivering a complete and unmatched digital mortgage process," said Black Knight Origination Technologies President Rich Gagliano. "Lenders will no longer need to depend on multiple vendors to piece together digital closing capabilities. With this new integration, lenders will benefit from cost savings per transaction along with a seamless process that flows data from the Empower LOS into our end-to-end Digital Close solution before being securely stored in the eVault. The strong collaboration between Black Knight and Wolters Kluwer combines select digital capabilities and deep industry knowledge that is truly game changing for the mortgage industry."
Wolters Kluwer's eVault solution assists lenders in creating, storing and assigning digital loans in support of industry compliance and enforceability standards, while maintaining the highest level of legal enforceability. Instead of paper promissory notes, in a fully digital mortgage, the borrower's promise to pay is recorded via an eNote – the key document signed at closing – and an original is stored securely in the eVault. Using the eVault helps clients securely manage their electronically signed assets throughout the entire post-execution loan life cycle. The solution's document repository allows users to tightly control and track access, status changes and retention policies of the original documents. In addition, the repository provides protection and compliance using digital tamper seals, as well as a detailed audit trail and reporting functionalities.
"Wolters Kluwer is proud to work with Black Knight, a trusted mortgage technology leader that shares our passion for embracing the many benefits that digital mortgages are bringing to lenders and their customers," said Steve Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. "The addition of our eNote and eVault technology to Black Knight's platform continues a growing collaboration that already included the adoption of our mortgage document generation technology through our Expere brand into Black Knight's Empower loan origination system. With these added capabilities, lenders can continue their journey toward end-to-end mortgage digitization that advances their lending operations and meets growing consumer demand for an eMortgage capability."
Black Knight currently has relationships with a nationwide network of settlement service providers and notaries that regularly use its RON solution, DocVerify, to leverage Black Knight's digital closing tools. The widespread adoption of and familiarity with Black Knight's eClosing and eNotary capabilities will help accelerate the adoption of the new, complete eMortgage package.
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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