Covius, a provider of technology-enabled solutions to the financial services industry, has integrated its solutions with three Black Knight technologies: Loss Mitigation, the Exchange platform’s ordering services, and Expedite e-sign and e-close solutions.
The new integrations will support the loss mitigation process and enable servicers to order an array of products and solutions, including remote online notarization (RON) e-signing for loan modifications – a service that is currently being piloted.
As a result of these integrations, Black Knight clients will be able to access Covius’ loss mitigation modification agreement solutions, which include a library of compliance documents, property reports and default title, as well as solutions that enable seamless e-signing of non-recordable loan modifications and remotely notarized recordable versions.
“The servicing community is at a critical inflection point: pandemic-related forbearance programs are ending, and investors and regulators are closely monitoring how the industry manages the latest phase of borrower transitions, which will involve the most challenged borrowers,” says Joe Chappell, executive vice president of Covius Settlement Services.
“We know from the CFPB’s Fall Supervisory Highlights that the bureau is focused on mortgage servicing practices and has already said that being unprepared is considered ‘unacceptable,’ even while servicers are forced to respond to changing agency guidelines that include short implementation timelines,” continues Chappell. “Our comprehensive integrations with Black Knight’s technologies will make ordering critical documents and services seamless, while smoothing complex processes for servicing teams and improving the overall loan modification experience for borrowers. A premier bank and servicer is already piloting our joint Expedite/Covius eSigning solution to make it as convenient as possible for borrowers to sign and notarize modifications.”
The integrations are part of Covius Connected, a broad and flexible strategic blueprint for enhancing clients’ digital experience by increasing transparency, consistency, performance and ease of integration. All Covius Connected services are intended to be self-serviceable, flexible, scalable, fault-tolerant and secure.
