Black Knight to Integrate Wolters Kluwer's E-note and E-vault Capabilities
February 21, 2023
Black Knight Inc. plans to integrate Wolters Kluwer Compliance Solutions’ e-note and e-vault capabilities with its digital closing solution.
Black Knight, which already offers innovative e-sign, e-closing and remote online notarization (RON) solutions, will integrate Wolters Kluwer's 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: e-sign, e-closing, e-notarization, e-note and e-vaulting,” said Rich Gagliano, president of Black Knight Origination Technologies. “By integrating with Wolters Kluwer's technology, we have closed the loop on delivering a complete and unmatched digital mortgage process. 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 e-vault.”
Wolters Kluwer's e-vault 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 e-note—the key document signed at closing—and an original is stored securely in the e-vault. Using the e-vault 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 for Wolters Kluwer Compliance Solutions. "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 e-mortgage 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.
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