JACKSONVILLE, Fla. – April 9, 2019 – Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, has expanded the number of data elements available for properties throughout the state of Michigan within its Tax for Title & Settlement solution.
These enhancements in the state of Michigan create new opportunities in how property taxes are reported. By adding new data elements for Michigan properties, Black Knight offers clients a distinct advantage by providing more granular property tax data. The new, robust, current statewide tax data includes:
- At the agency/parcel level: school district; state equalized value (SEV); tax year; percentage of home value for homestead exemption; and public water and sewer
- At the bill level: breakout of special assessments included in the current bill; and breakout of special assessments separate from the current bill
- Millage data
Title companies, lenders, servicers, investors and other clients use the Black Knight Tax for Title & Settlement solution to identify properties with delinquent taxes, even if the obligation has been sold to a third party. When property tax payment obligations are sold to third parties, it becomes more difficult to uncover properties with tax delinquencies and increases the risk of collateral loss. By uncovering these obligations, Black Knight’s Tax for Title & Settlement solution reduces the uncertainty regarding delinquent taxes, helping clients make more informed decisions, reduce risk and decrease the time and costs associated with procuring tax data.
In addition to the new data elements listed above, the solution provides payment status, delinquent tax amounts and due dates, as well as entity, agency and/or law firm contact information. Tax for Title & Settlement also discloses delinquency severity and when the obligation could be lost to tax auctions.
“At Black Knight, we understand the challenges our clients face in identifying delinquent taxes on mortgage loans,” said Matthew Reilly, senior vice president of Pre-Mortgage Solutions, Black Knight Data & Analytics. “We’re proud that our Tax for Title & Settlement solution now includes even more comprehensive data on Michigan properties to help users better determine delinquent tax obligations and reduce the risk of property loss and claims for defaulted loans.”
The enhanced Tax for Title & Settlement report in Michigan is available within SiteXPro, a Black Knight web-based portal that offers users instant access to property and mortgage data. Tax for Title & Settlement is also available through ResWare and RamQuest.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.