- Sogorka won the Innovation Award for his leadership role in the development of Black Knight’s LoanSphere Closing Insight solution.
- Closing Insight is a comprehensive technology solution that provides integrations with major title and settlement platforms to help lenders address the requirements of the CFPB’s TRID rule.
- The development of Closing Insight was a collaborative effort between Black Knight and several leading mortgage companies, title underwriters and settlement agents to benefit the entire mortgage industry.
JACKSONVILLE, Fla. — July 21, 2016 — Black Knight Financial Services (NYSE: BKFS) announced today that Dan Sogorka, president of Black Knight’s RealEC Technologies division, was presented the Innovation Award from October Research, LLC for his oversight of the development of Black Knight’s LoanSphere Closing Insight technology solution, as well as other achievements in support of the lending industry. Sogorka received the award at the 12th annual National Settlement Services Summit in Charlotte, N.C.
Under his leadership, Sogorka led the RealEC Technologies team to develop Closing Insight, a comprehensive technology solution that supports lenders’ efforts to stay compliant with the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rule and avoid costly penalties. Closing Insight streamlines the complex, multi-party loan closing process and helps lenders comply with industry regulations as they generate mortgage disclosures that all borrowers must receive when applying for and closing on a loan. Lenders using Closing Insight can securely exchange documents, data and other information with settlement agents registered on the solution. Currently, more than 27,000 settlement companies are active on Closing Insight and are able to transact with lenders. This network includes the nation’s top underwriters and settlement software providers.
As part of developing a comprehensive solution that met users’ needs, Sogorka created a Closing Insight advisory committee, which included executives from lenders, underwriters, title agents, software providers and trade associations. Collaboration and guidance among these critical stakeholders helped RealEC develop industry-changing technology, support the challenge of helping to meet lenders’ TRID compliance requirements and increase efficiencies in the closing process.
“I am proud to congratulate Dan on this well-deserved recognition,” said Black Knight Chief Executive Officer Tom Sanzone. “Throughout the development of Closing Insight, Dan guided the teams involved with capable and effective leadership to launch an innovative solution that helps create a more efficient and improved closing process for all parties involved.”
Each year, October Research, LLC honors leaders in the title, underwriting, lending and settlement services industries in the areas of leadership, innovation and philanthropy.
October Research, LLC
October Research, LLC is the nation’s leading independent provider of market intelligence, industry news, expert opinion and regulatory information for professionals in the real estate, title, financial and settlement services industries. The company was founded to be the unifying, agenda-free voice of these industries and the professionals that support them. We have been headquartered in Richfield, Ohio, since our inception in 1999, and still boast the only full-time, independent newsroom devoted to providing in-depth coverage of the top real estate, title insurance, financial and settlement services issues.
LoanSphere is Black Knight’s premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight’s LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.