BlackKnight has acquired Ernst Publishing Co., which provides fee results for loan estimates and closing disclosures and fee-engine technology. Users of Ernst's platform include 9 of the top-10 mortgage servicers, all 5 of the top title underwriters, and 9 of the 10 largest banks, according to the company.
Black Knight plans to integrate Ernst's capabilities into its origination solutions, but also to companies who do not use the Black Knight Empower loan origination system; it will continue to work with Ernst's current partners and clients. Ernst programs processed 250 million real estate transactions in 2017, making it one of the most used technology in the industry.
Black Knight will augment its existing fee engine with Ernst's capabilities, including recording fees, transfer taxes, inspection fees, property taxes and title premium fees to create a unified access point for all fee-related needs. This comprehensive fee suite will integrate with Black Knight's Origination Solutions suite, which includes loan-origination software, regulatory compliance and eClosing capabilities, enhanced by artificial-intelligence technology.
Since the company was founded 29 years ago, Ernst has processed well over 1 billion transactions and unveiled dozens of technologies and products that produce efficiency across the real estate industry. The firm estimates that its technology is in use for 90% of the nation’s new loan originations and refinance transactions.
"Without a doubt, Ernst is the leading provider of fee and tax data in the industry," said Rich Gagliano, president of the origination technologies division of Black Knight. "By tightly integrating this technology and data into our origination product suite, we are able to better serve our existing clients. This is another step forward in our mission to provide a truly end-to-end origination solution, which will be unparalleled in the industry."
"Ernst and Black Knight share very similar goals--to create innovative solutions that transform the industry, support regulatory and compliance requirements, and create a better borrower experience," said Greg Teal, chief executive officer of Ernst.
