Black Knight, Inc. (NYSE:BKI), a provider of integrated software, data and analytics to the mortgage and real estate industries, recently announced the launch of a new application programming interface (API) to help investors automate bulk transaction pricing and commitments in the correspondent lending process. 

The company said this represents another step forward in the company’s strategy to boost lender efficiencies and workflow automation by providing real-time access to advanced secondary marketing capabilities throughout the mortgage loan process.

“Black Knight continues to expand its development of APIs to drive innovation where there are industry opportunities for automation and efficiency,” said Rob Kessel, managing director, Black Knight Secondary Marketing Technologies. “This API marks a new standard for correspondent buyer-seller interactions and processes by automating the exchange of data, which has historically been a very manual process. It also solves the daily price discovery problem so many correspondent sellers face.”

The new pricing and committing API is integrated with CompassPoint, Black Knight’s risk management and loan sale platform that is used by hundreds of industry professionals to hedge, value and sell more than $1 trillion in mortgage originations annually. 

It is also available via Resitrader, Black Knight’s online loan trading platform, which connects investors to a large base of sellers through a secure, cloud-based environment. Additionally, other mortgage hedge advisors and technology providers can implement this scalable, loan-level API for the benefit of their own lender customers.

Simplifying the exchange of information between correspondent buyers and sellers engaged in bulk transaction bidding and committing, the API provides an automated mechanism through which data can be shared and loans can be priced. Lenders can also access daily price indications for rate-lock commitments and closed loans in their pipeline.

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