Black Knight Enhances Expedite Close with AI, Data Recognition Capabilities

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Black Knight has rolled out a new version of its digital mortgage closing solution, Expedite Close, that uses advanced intelligence and data recognition capabilities to determine the best way to close a loan based on lender preferences and jurisdictional requirements.

Introduced in February 2018, Expedite Close handles both all-digital and hybrid e-closings. The new version supports fully digital closings – including e-sign, e-notary and e-close components – but for closings that are not fully digital, it automatically identifies and executes whatever combination of wet-ink and digital closing works best for the lender and/or the property jurisdiction.

The new version also enables lenders to adopt digital elements at their own pace, without requiring the purchase of additional technology when the lender – or the jurisdiction – is ready to embrace completely digital closings.

The revamped solution digitally audits the entire closing package at completion. Advanced document-recognition capabilities enable static PDFs of closing documents to become searchable, e-signable and data-centric, the firm says.

These new capabilities not only introduce greater speed and efficiency into the closing process, but also support consistency throughout the entire process, Black Knight says.

“Right now, mortgage closing requirements are inconsistent and inefficient across the country, and even from lender to lender, or agent to agent,” says Mike Brown, general manager of Black Knight’s Lending Solutions division, in a release. “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.”

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