Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Black Knight announced that advanced intelligence and data recognition capabilities have been added to its Expedite Close digital closing solution.
The company explained in a press release that the newly enhanced Expedite Close adds the ability to automatically determine the best way to close any given loan based on lender preferences and rules, and jurisdiction-specific requirements. Expedite Close was first unveiled in February 2018.
“Expedite Close was already a game-changer for eClosings by seamlessly supporting hybrid or fully digital processes while also making sure settlement agents, lenders, real estate agents, consumers and investors had what they needed without requiring changes to current practices or systems,” said Mike Brown, general manager of Black Knight’s Lending Solutions division.
The enhanced solution also fully supports eClose, eNotary and eSign, as well as traditional wet-ink mortgage closings, the company stated. For closings that aren’t completely digital, Expedite Close automatically identifies and executes a possible combination of wet-ink and digital closing works best for the lender or the property jurisdiction, the company said.
The solution also digitally audits the entire closing package at completion, Black Knight said, instantly analyzing packages of static loan documents and creating live, searchable data from their contents, determining which can be signed digitally.
“Right now, mortgage closing requirements are inconsistent and inefficient across the country, and even from lender to lender, or agent to agent,” said Brown. “Expedite Close was designed to meet the challenges of today’s closings, while delivering maximum benefit to our clients and their customers, and making the process – and implementation – as simple as possible.”
ServiceMac has picked ServiceLink’s EXOS Servicing platform as its consumer digital solution.
EXOS Servicing, part of ServiceLink’s EXOS Technologies suite, is a mobile app that offers digital consumer touch points throughout the life of the loan.
“As an innovative customer-focused company, we need digital solutions via web/mobile/voice/wearables that would elevate consumer satisfaction, provide a high level of self-service capabilities and the market maturity to understand the overall customer experience,” said Bob Caruso, president and CEO of ServiceMac. “We believe the EXOS platform will deliver on this strategy and we’re excited to work with EXOS to provide our omni-channel digital strategy.”
Appraisal management company Appraisal Logistics announced it is now providing automated valuation models from Veros Real Estate Solutions to users of its AIM-Port appraisal management platform.
“We have been very impressed with the Veros team and the company’s ability to innovate in the valuation space,” said Frank Danna, CEO of Appraisal Logistics. “The company offers substantial systems capabilities as evidenced by the fact that Veros built and maintains the GSEs’ UCDP (Uniform Collateral Data Portal) appraisal super highway, as well as systems in use by other investors and credit guarantors. That’s the kind of partner our clients deserve.”
“Appraisal Logistics is a progressive leader in the appraisal management arena and we are extremely pleased to have the opportunity to partner with them as their automated valuation services provider,” said Veros Real Estate Solutions Vice President of Sales Robert Walker. “In keeping with their corporate commitment to innovation, Appraisal Logistics will now offer its clients direct access to VeroPRECISION, the first end-to-end valuation solution for home equity lending applications, as well as Veros’ top performing AVMs and VeroSCORE automated appraisal scoring tool.”