Covius has announced that it has integrated its solutions with three Black Knight technologies: Loss Mitigation, the Exchange platform’s ordering services, and Expedite eSign and eClose solutions. The new integrations will support the loss mitigation process and enable servicers to order an array of critical products and solutions, including remote online notarization (RON) eSigning for loan modifications, a service that is being piloted at a top-five servicer.
“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,” said Joe Chappell, EVP of Covius Settlement Services.
Black Knight clients will now 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 eSigning of non-recordable loan modifications and remotely notarized recordable versions.
“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,” added Chapell. “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 with Black Knight are part of Covius Connected, a broad and flexible strategic blueprint for enhancing our 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. Covius Connected simplifies the buying and onboarding processes and shrinks time to value and ROI for clients.