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Black Knight Financial Services introduces Closing Insight to assist lenders, settlement companies comply with TRID.

M2 EQUITYBITES-October 8, 2015-Black Knight Financial Services introduces Closing Insight to assist lenders, settlement companies comply with TRID

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Black Knight Financial Services, Inc. (NYSE: BKFS) said it has launched Closing Insight, a suite of web-based solutions that automates the loan closing process. The launch date coincided with the effective date of the CFPB's TILA-RESPA Integrated Disclosure (TRID) rule.

Closing Insight supports Black Knight's lender clients and their network of settlement agents as they work together to generate the new closing disclosure forms and reconcile fees within mandated timelines.

Ten of the top lenders in the US and more than 30 of the nation's top underwriters and settlement software providers completed testing of Closing Insight. Additionally, nearly 14,000 settlement companies have registered to use the solution.

Lenders that are integrated with Closing Insight can securely exchange documents, data and other information with settlement agents registered on the solution. Closing Insight provides an electronic, workflow-driven approval process and a collaborative closing service that streamlines the reconciliation of fees for initial and final loan closing disclosures between lenders, settlement agents and other service providers. Using a proven, client-configurable rules engine, lenders will have the ability to generate and review disclosure documents, which will help them meet loan-closing timeline requirements.

Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE: FNF) company, is a provider of mortgage and finance integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

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Publication:M2 EquityBites (EQB)
Date:Oct 8, 2015
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