The bank also plans to manage its own proprietary fee data through Black Knight’s service
Black Knight has announced that Gateway Mortgage Group will use its Ernst Fee Service, a tool that assists lenders with their TRID compliance efforts.
Gateway said it would utilize the fee monitoring service to mitigate risk associated with fee cures. Black Knight’s Ernst Fee Service provides lenders with accurate recording fees, transfer taxes, property tax, title, settlement, and inspection data.
“We needed a trusted provider that could automate our fee and closing-cost data to help us more accurately disclose fees to customers,” said Whitney Barth, vice president of product development management for Gateway First Bank. “Fees frequently change during the loan process, and Black Knight’s Ernst Fee Service lets us provide our customers with accurate fees based on the closing date and automatically update those fees within our loan-origination system.”
In addition, Gateway Mortgage Group said it plans to customize its use of Black Knight’s monitoring service to manage its own proprietary fee data while exposing fees and fee changes.
“We are pleased to support Gateway First Bank with advanced capabilities that will help improve the accuracy of disclosures and better prevent fee cures,” Black Knight President Rich Gagliano said. “Black Knight’s passion for accuracy carries through everything we do, and our fee service is no exception. We’re committed to providing our clients with the most accurate closing costs so that they can provide the best customer experience.”
