Black Knight introduces user-centric origination suite

Black Knight, Inc. has introduced two automated, user-centric, residential-mortgage loan origination solutions. Powered by artificial intelligence, the origination suite aims to advance the loan application and approval process for consumers and loan officers. 

Borrower Digital and LO Digital deliver end-to-end digital capabilities and advanced automation from point of sale through post closing, the fintech said, simplifying the mortgage and home equity loan application process.

LO Digital helps loan officers to manage the details of each application through an intuitive dashboard that makes it easy for them to guide the homebuyer throughout the mortgage application process, respond to borrower questions and view the same information the borrower sees. 

It allows loan officers to access loan products, pricing, pipeline, rate-lock, loan status and automated third-party service orders, through a single application integrated with Black Knight’s Empower loan origination system (LOS). Several other Black Knight origination technologies support data integrity and consistency from application through closing.

The integration enables users to work remotely within the LOS Digital application from any mobile device or desktop. They can simultaneously update the loan information in Empower, “eliminating the need to rekey data and confirming data integrity and consistency” from the beginning of the loan application process. 

LOs also can transfer all information gathered in LO Digital and updated in Empower to Black Knight’s MSP servicing system at loan boarding, and integrate it with consumer-facing Servicing Digital solution.

The past six months have clearly demonstrated loan officers need to be able to work from anywhere, said Rich Gagliano, president of Black Knight Origination Technologies. LO Digital combined with “the intuitive functionality the Borrower Digital application brings to the customer,” simplify the loan prequalification and application process for all parties involved.

Borrower Digital leverages AIVA, Black Knight’s artificial intelligence solution, at the point of sale and throughout the approval process guiding the homebuyer through the prequalification, preapproval and refinance process via a simple, intuitive Q&A format, the fintech said. 

The software validates and uploads data and documents; automatically sends the homebuyer alerts about immediate next steps; and assesses whether the appropriate document downloads are in the system. AIVA provides near-real-time loan information exchanges and communication between loan officers and borrowers.

Integrated technologies do not only simplify mortgage origination, they improve user experience, Gagliano said. 

Nations Lending opens two new branches

Local expansion is how some lender-servicers are juggling unprecedented loan originations and client retention efforts. Direct-to-agency private mortgage lender and servicer, Nations Lending Corporation has added two new branches, in Farmer’s Branch, a suburb of Dallas, Texas and in Orange County, California. 

The Cleveland, Ohio area based company also announced the hiring of industry veteran and top-producer Casey Herd to lead both branches’ local outreach and business growth efforts. 

Herd brings to Nations years of expertise in training his teams and expanding mortgage business into multiple markets, including consistently overseeing at least $60 million in annual production volume over the past eight years, the company said. His prior experience includes management roles at Wells Fargo, Citywide Home Loans and Sierra Pacific. 

As an expert at serving U.S. veterans become homeowners through VA loans, Herd will help his teams to serve these customers alongside a broader mortgage clientele with conventional loans and other programs.

Nations is a direct lender with Fannie Mae, Freddie Mac and Ginnie Mae licensed in all 50 states, and retains mortgage-servicing rights on 96% of the loans it originates, according to a statement. Herd will be in charge of preparing his teams to find the best possible home purchase financing or refinance for homebuyers and homeowners. 

“Casey is a consummate professional and has already shown the ability to grow his business from the ground up,” said Nino Saso, West Division sales manager. “Nations has support systems in place for top producing leaders like Casey to amplify the good work they’re already doing. We’re confident he and his teams are going to continue to scale and continue to grow here.”

Herd said his immediate goal is to ensure loan originators in his team have the best technology and tools, using “all the ways the company could support our branch business, so we grow together. It’s all about transparency and true partnership.”

The new additions bring the total number of locations Nations operates across the U.S. to more than 90, according to the company website. 

Ellie Mae innovation award nominations 

Mortgage fintech Elle Mae, now a part of Intercontinental Exchange, Inc. is accepting nominations for the 2021 Ellie Mae Innovation Award for mortgage lenders and partners. 

Ellie Mae customers and partners can nominate their companies for the awards online through October 31, 2020.

The award recognizes users of Ellie Mae’s Encompass Digital Lending Platform solutions “in ways that set themselves above their peers to originate more loans, lower origination costs and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.” 

The company will honor the winning lenders during Ellie Mae Experience 2021 – online event – from March 8-26, 2021. Registration for Ellie Mae Experience 2021 will open in October 2020.

Ellie Mae is looking to hear “how the best and brightest companies in the mortgage industry” handled their 2020 challenges – the refinance boom in a virtual world combined with remote workforce requirements due to COVID-19. 

How they responded to the opportunities to utilize automation, consumer engagement tactics and data to excel their business; or prioritized the homebuyers’ experience, improved workflows, used data and analytics to make smarter business decisions and tapped into machine learning to become more efficient.

This year our customers managed record-breaking volume and met the needs of homebuyers looking to conduct the mortgage process for both purchases and refinances virtually,” said said Jonathan Corr, President and CEO of Ellie Mae. 

“Our data show that by utilizing mortgage technology, data and analytics, AI and machine learning, and partner-led innovation, Ellie Mae lenders are experiencing higher pull through rates, shorter close times and greater ROI. We want to hear those success stories and celebrate their great achievements.”

Previously honored lenders include Home Point Financial, Paramount Residential Mortgage Group (PRMG), SecurityPlus Federal Credit Union, Wyndham Capital Mortgage and Arch Mortgage Insurance.

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