RealEC Technologies20 E. Greenway PlazaSuite #500Houston, TX 77046877.273.2532Fax: 713.273.7338Sales@RealEC.com
Trying to manage the CFPB's TILA-RESPA Integrated Disclosure (TRID) rule's processes and support mandated time frames can complicate your operation. Especially if you are not using a proven solution to help automate the complex multi-party closing process.
Insight was developed by Black Knight Financial Services to support many of the necessary processes needed to meet TRID requirements. Developed in close collaboration with lenders, title underwriters and title software providers, Closing Insight is a suite of Web-based services that streamlines the closing process and helps lenders remain compliant as they generate mortgage disclosures that borrowers must receive when applying for and closing on a loan.
Improve process management
Deliver documents within mandated time frames
Collaborate with settlement agents to reconcile and finalize closing disclosure data
Obtain more accurate loan information
Improve cycle time and operational efficiencies
Save time and reduce errors by replacing manual processes
Improve borrower satisfaction with the closing process
Closing Insight delivers the analytics that lenders need to support their compliance efforts and replace labor-intensive loan quality control checks as data and documents are exchanged with service providers.
Using a lender's predefined rules, Closing Insight Analytics can:
Closing mortgage loans has always presented challenges for lenders and settlement agents. The two parties do not share the same software platforms and compliance regulations do not always impact both in the same manner.
With Closing Insight, lenders and their settlement agents can:
All closing data edits are stored within the iFolder™ repository for future audit needs, and final closing disclosure can be generated once the lender has approved the fee data set.
Closing Inisight's Closing Collaboration Portal works in conjunction with existing RealEC closing event data, and further enhances the closing experience for both the lender and settlement agent.
To help improve the efficiency of lenders’ compliance initiatives, RealEC’s Closing Insight technology integrates tightly with the Empower® loan origination system (LOS) – Black Knight’s enterprisewide, Web-based platform that supports both retail and wholesale channels. Empower enables lenders to electronically capture, process and close loans and offers every facet of the loan origination process – from point of sale to post-closing.
The integration between Closing Insight and Empower:
The powerful integration between Empower and RealEC also streamlines critical processes required for gathering and updating loan information related to the Closing Disclosure form – helping lenders to meet mandated compliance times frames for document delivery and recording key steps to support audit requirements.
Learn more about Black Knight’s Empower LOS.