Black Knight Inc. has signed 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 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,” says Black Knight Origination Technologies President Rich Gagliano. “Lenders will no longer need to depend on multiple vendors to piece together digital closing capabilities.”
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.
“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,” comments Wolters Kluwer Compliance Solutions’ Steve Meirink. “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.”