Black Knight Rolls Out Tax For Loan Estimation Tool

Posted by Patrick Barnard on September 21, 2016 No Comments
Categories : Residential Mortgage

Black Knight Financial Services recently introduced a new solution that helps lenders and real estate professionals quickly and accurately estimate property taxes during the mortgage application process.

The new Tax for Loan Estimation tool, developed by Black Knight’s Data & Analytics division, provides an immediate tax estimate and features nationwide coverage, the company says in a release. In addition, it supports lender compliance with property tax tolerance rules for good-faith loan estimates under the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule.

The solution delivers most estimates in real time and can be tailored to meet a user’s specific needs. It also provides tax bill values for new construction homes, saving lenders time by eliminating the need to review complicated builder reports.

Information provided by the solution includes property address, parcel number, current tax bill data, assessment data, escrow to collect at closing and estimated tax bill amounts.

Black Knight reports that by later this year, clients will be able to access the new tax solution directly through its LoanSphere Empower loan origination system.

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