A new banking ruling set to go in effect in October has Black Knight Financial Services Inc. ready to benefit greatly from the proposed switch to electronic mortgage filing.
Black Knight is the country’s largest mortgage software firm and has already started gaining steam as other lenders prepare to move away from faxing documents and in-person singings and toward electronic automation.
“Mortgage staffers right now are like travel agents before we found out that technology makes travel cheaper,” said Scott Sambucci, vice president at Blend Labs Inc. “New regulations have forced lenders to throw away their fax machines and put larger investments into real technology.”
Image via flickr/Sebastien Wertz
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