3-30-20 Providing Digital Closings During a Time of Crisis
b'The COVID-19 pandemic has wide-reaching impacts for the U.S. and global economy.\\xa0\\n\\n\\n\\nOne area of potential impact is the delay (or cancelations) of closings. Many county recorders have yet to fully digitize operations, and as such depend upon high-touch, manual processes for both input and production of property records. Shelter-in-place orders or even widespread social distancing efforts could hamper their ability to fulfill their part of the process, which could reduce the volume of both purchase and refinance lending along with overall real estate transactions.\\n\\n\\n\\nAs a result of years of investment and innovation in digital mortgage technology, Black Knight has enabled much, if not all, of the mortgage application and closing process to happen online and remotely. This means that lending \\u2013 particularly refinance lending \\u2013 can continue unabated, and help to move the market forward for some time, even in the midst of this global health crisis. Black Knight\\u2019s Expedite Close eClosing platform supports all forms of real estate closings, including \\u2013 where permitted by law \\u2013 completely digital mortgage closings, supported by remote online notarization. This enables loans to close with the utmost social distancing \\u2013 allowing the buyer to remain in their home, while the closing agent is at a different location.\\n\\nRead more...\\n\\n\\nThe COVID-19 pandemic has wide-reaching impacts for the U.S. and global economy.\\xa0\\n\\n\\n\\nOne area of potential impact is the delay (or cancelations) of closings. Many county recorders have yet to fully digitize operations, and as such depend upon high-touch, manual processes for both input and production of property records. Shelter-in-place orders or even widespread social distancing efforts could hamper their ability to fulfill their part of the process, which could reduce the volume of both purchase and refinance lending along with overall real estate transactions.\\n\\n\\n\\nAs a result of years of investment and innovation in digital mortgage technology, Black Knight has enabled much, if not all, of the mortgage application and closing process to happen online and remotely. This means that lending \\u2013 particularly refinance lending \\u2013 can continue unabated, and help to move the market forward for some time, even in the midst of this global health crisis. Black Knight\\u2019s Expedite Close eClosing platform supports all forms of real estate closings, including \\u2013 where permitted by law \\u2013 completely digital mortgage closings, supported by remote online notarization. This enables loans to close with the utmost social distancing \\u2013 allowing the buyer to remain in their home, while the closing agent is at a different location.\\n\\nRead more...'