Black Knight Financial Services

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Post-Close Audit Tool

eLynx Post-Close Audit Tool™ provides an automated post-closing audit and delivery solution that sorts and audits post-closing documents to enhance consistency and completeness. eLynx manages the document variability inherent in using multiple settlement service providers or correspondent lenders. eLynx Post-Close Audit Tool™ then re-arranges and delivers the documents electronically based on lender or investor specifications, all within minutes.

 

The Post-Close Audit Tool can also prepare a Vendor ScoreCard which provides metrics to lenders about the SSP's performance. The Vendor ScoreCard allows lenders to compare SSPs and helps document the vendor management processes required to support CFPB rules.

 

  • Improved productivity — automated repackaging and audit decrease the manual processing of final closing documents reducing the processing time to a matter of minutes.
  • Cost savings — fewer errors, a higher compliance rate and faster turnaround times translates quickly into labor and other cost savings.
  • Transaction-based payment model — no upfront capital requirements, licensing fees and integration costs.
  1. The executed closing package is submitted to the Post-Close Tool.
  2. The package is scanned to identify and index the individual documents in the package.
  3. Each document is subjected to a customized post-closing audit to identify missed signatures, missing pages, and other errors regardless of the source.
  4. All documents are re-stacked and delivered electronically according to each lender’s specifications.
  5. Data can be extracted from those documents to augment eLynx’s audit tools.

Snapshot from an eLynx Post-Close Audit Tool ™ Summary Report

 

 

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