Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
1
Closing Insight Enhancements
June 16, 2017 Release Closing Insight 2.0
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
2
Table of Contents
June 16, 2017 Release Enhancements ......................................................................................... 3 Borrower Information – Party Role Type .......................................................................................... 5 Mortgage Insurance Company Name ............................................................................................... 6 Popover Updates for All Contacts .................................................................................................... 7 Late Charges as a Percent and Flat Fee .......................................................................................... 8 Negative and Positive Amounts ....................................................................................................... 9 Prepaids......................................................................................................................................... 12 Liabilities/Adjustments .................................................................................................................... 15 Include in APR ............................................................................................................................... 17
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
3
June 16, 2017 Release Enhancements
The Closing Collaboration Portal (CCP) is being updated to be fully compatible with the most current UCD industry standards.
Updates affect the Closing Insight Collaboration Portal – including Closing Insight manual data entry. Changes include but are not
limited to the following: Borrower Information – Party Role Type Ability to add Mortgage Insurance Company Name
Portal popover updates for all contacts Late Charges as a Percent and Flat Fee are supported
Negative and Positive Amounts are supported in the Closing Insight Portal for the following fields: o CashToClose Table o AggregateAdjustmentItem o PrepaidInterest o Payoffs and Payments o CashToClose Page 1 o Lender Credits (must be negative)
Prepaid Item Type
EscrowItemCategoryType has been replaced with EscrowItemType
Liabilities/Adjustments Updates to add additional enumerations and allow liabilities for the Borrower to pay off
Multiple Partial Payments are supported
Payoffs and Payments updates to allow for ClosingAdjustmentItems (line items that are credits to Borrower)
Regulation Z Indicator changed to “Include in APR”
Closing Insight 1.0 (Current) Closing Insight 2.0 (June 16, 2017) Notes
Borrower Information Party Role Type selection not supported
Borrower Information with Party Role Type selection.
Added popover to select Party Role Type for Borrower
Mortgage Insurance Company details not supported
Mortgage Insurance Company name and termination date supported.
Added popover to capture MI company name and scheduled termination date (both optional)
License details for Contacts not supported
License details for Contacts supported.
Added fields to capture License Issuing Authority Type, License Issuing Authority Name, and License Issue Date for legal entities and individuals in the Contacts section.
Late charge only supported as a Percentage of Principal & Interest
Late charges can be displayed as a Percentage of Principal and Interest, Flat Dollar Amount, Percentage of Delinquent Interest, Percentage of Net Payment, Percentage of Principal Balance, Percentage of Total Payment, or No Late Charge.
Edit button for late fee to allow user to change type of late fee selected or add additional late payment information.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
4
Closing Insight 1.0 (Current) Closing Insight 2.0 (June 16, 2017) Notes
Signed values not supported in XML or UI. UI hard coded to treat Total Closing Costs (Refinance), Adjustments and Other Credits, Payoffs and Payments, and Aggregate Adjustments as negative values and displays them on the portal in parenthesis. Total Closing Cost (Borrower Paid), Total Closing Costs (Purchase) and Prepaid Interest are treated as positive values.
Signed values are supported in the XML and UI. If data is delivered in CI 1.0, portal treats Total Closing Costs (Refinance), Adjustments and Other Credits, Payoffs and Payments, and Aggregate Adjustments as negative values and displays them on the portal with a negative sign. Total Closing Cost (Borrower Paid), Total Closing Costs (Purchase) and Prepaid Interest are treated as positive values.
Positive and negative values are supported in the XML and user can enter a negative sign in the amount field to indicate a negative value, if needed.
Escrows transmitted and displayed as Escrow Item Category Types.
Escrows transmitted and displayed as Escrow Item Types.
Escrow Type drop down updated to reflect Escrow Item Type and additional supported enumerations.
Supported Fee Paid To Types of Affiliate Provider, Broker, Investor, Lender, and Third Party Provider.
Supported Fee Paid to Types of Broker, Broker Affiliate, Investor, Lender, Lender Affiliate, Other, and Third Party Provider.
Affiliate Provider removed and Fee Paid to Type of Other was added. Broker Affiliate, Lender Affiliate specified as FeePaidToTypeOtherDescription.
Only one line (04.) available for additional liabilities. Unable to designate liability type.
Addition of other borrower liabilities/adjustments supported. Liability type designation is supported.
Plus sign added below Closing Costs Paid at Closing line to allow for additional of one or more borrower liabilities/adjustments.
Addition of Closing Adjustment liabilities in Payoffs and Payments section not supported on UI.
Addition of Closing Adjustment liabilities in Payoffs and Payments section supported on UI.
Closing Adjustment radio button added to New Liability/Closing Adjustment box, with dynamic Closing Adjustment Item Type drop down box.
Checkbox when adding fees titled Regulation Z Points and Fees.
Checkbox when adding fees titled Include in APR.
Renamed checkbox for clarity.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
5
Borrower Information – Party Role Type
A dropdown has been added to the Borrower Information popover menu to allow selecting the Party Role Type. Click on the Edit icon next to Borrower Name to open the Borrower Information popover.
Select from the Party Role Type dropdown. Click Apply when done.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
6
Mortgage Insurance Company Name
There is a new popover menu to capture details for the Mortgage Insurance Company (optional): • MI Company Name • MI Scheduled Termination Date
Click on the Edit icon to open the Mortgage Insurance popover menu.
Make selection for MI Company Name and MI Scheduled Termination Date. Click Apply when done.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
7
Popover Updates for All Contacts
Updates were made to the Contact Information popover menus in the portal. User can now add license information for all
contacts, including Lender, Mortgage Broker, Real Estate Brokers and Settlement Agent.
Click the Edit icon to open the popover menu and make edits to the contact information.
The new License fields are highlighted below. Make any necessary changes and click Apply.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
8
Late Charges as a Percent and Flat Fee
The Loan Disclosures section is updated to support Late Charges as a percent and a flat fee.
Click on the Edit icon to make changes to the Late Charges.
The Additional Late Payment Information fields appear at the bottom of the pop-over menu. Select Flat Dollar Amount from
the Late Charge Type dropdown and enter the amount in the Late Charge Amount Field. Click Apply when done.
The Late Payment section will now show both a dollar amount and a percentage.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
9
Negative and Positive Amounts
Negative and Positive Amounts are now supported in the Closing Insight Portal version 2.0 for the following fields: o CashToClose Table o CashToClose Page 1 o Lender Credits (must be negative) o Payoffs and Payments o PrepaidInterest o AggregateAdjustmentItem
For those still on CI version 1.0, the fields will still show their legacy values as outlined in the below table:
Field Version 1 Version 2
J. Total Closing Cost (Borrower Paid) Positive Positive or Negative
Total Closing Costs (Purchase) Positive Positive or Negative
Total Closing Costs (Refinance) Negative Positive or Negative
Adjustments and Other Credits Negative Positive or Negative
Payoffs and Payments Negative Positive or Negative
Prepaid Interest Positive Positive or Negative
Aggregate Adjustment Negative Positive or Negative
Note: CI Version 1 will show negative values with parentheses while CI Version 2 will allow for a negative sign. The portal will
not force a negative value to be displayed, however will allow for a negative sign to be entered. IMPORTANT: Please be aware that these may show different amounts in the portal than what is in your software system.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
10
Cash to Close Table (Purchase)
Cash to Close Table (Refinance)
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
11
Cash to Close (Page 1)
Lender Credits (must be negative)
Payoffs and Payments
Prepaid Interest
Aggregate Adjustment Item
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
12
Prepaids
Property Taxes
Updates have been made to the Prepaid Item Type drop down options in the popover menu for Property Taxes. Includes
selections for Borough, County or District Property Tax.
Additional Prepaid Items
Click on the plus sign to open the Fee Information popover menu. Make a selection from the Prepaid Item Type dropdown. Click Apply when done.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
13
Escrow Item Type
Escrow Item Category Type has been updated to Escrow Item Type, allowing for more specific selections. Click on the plus
sign to add an Escrow Item Type.
The Escrow Item Type dropdown now includes more specific selections.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
14
Fee Paid to Type
The Fee Paid to Type dropdown now includes Broker Affiliate and Lender Affiliate selections. Affiliate Provider has been
removed.
Property Taxes
Click on Property Taxes to choose a different property tax type. Now includes selections for Borough, County and Parish Tax.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
15
Liabilities/Adjustments
The portal now allows for liabilities to be entered. Click on the plus sign to add an item to Closing Costs Paid at Closing.
Choose a Liability Type from the dropdown, enter Liability Name and click Apply when done.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
16
For Refinance loans, the Payoffs and Payments section now allows for Closing Adjustments in addition to Liabilities. Click
on the plus sign to add a new item.
Click the Closing Adjustment radio button and enter the information in the fields. Click Apply when done.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
17
Include in APR
Regulation Z checkbox is now Include in APR checkbox on fee popover menus for Prepaid and Escrow Items.
Confidential, Proprietary and/or Trade Secret
TM SM ® Trademark(s) of Black Knight IP Holding Company, LLC, or an affiliate. © 2017 Black Knight Technology Solutions, LLC. All Rights Reserved.
18
Statement of confidentiality The information contained in or supplied with this document is submitted solely for the purpose of evaluating the products and services of Black Knight Financial Technology Solutions, LLC. its affiliates and/or subsidiaries (collectively, “Black Knight”). The information contained in or supplied with this document, in its entirety, is the confidential and proprietary information of Black Knight, and it may not be copied by or disclosed to any person or entity (other than to the intended recipient), without the prior written consent of Black Knight. With or without Black Knight’s prior written consent, Black Knight accepts no liability whatsoever for any consequences arising from the reproduction of the information contained in or supplied with this document, or from its disclosure to any person or entity, including to the intended recipient. Black Knight additionally accepts no liability for the use of the information contained in, or supplied with this document, by the intended recipient, or by any other person or entity, with or without Black Knight’s express prior consent. The intended recipient shall not use any part of the information contained in, or supplied with this document, in any way to the competitive disadvantage of Black Knight, and will take all steps designed to assure its compliance with this provision.
This proposal is neither an offer nor intended by Black Knight, upon acceptance by the intended recipient, or otherwise, to create a binding agreement with Black Knight. Such an agreement shall be reflected only by a definitive contract, executed by both parties.
Trademarks All trademarks are the property of their respective owners. Company, product and service names used within or supplied with this document may be trademarks or service marks of other persons or entities. Copyright
© 2017 Black Knight Financial Technology Solutions, LLC. 601 Riverside Avenue Jacksonville, Florida 32204, USA All rights reserved.