JACKSONVILLE, Florida (MO.Properties) – Black Knight, Inc. (NYSE:BKI) today announced the launch of Seller Digital, a new correspondent lending platform that helps lenders track commitment pipelines, manage conditions and validate pricing to register and lock Best Efforts loans and allocate Mandatory loans to commitments.
Focused on delivering a simple, easy-to-navigate user experience, Seller Digital’s advanced functionality fosters two-way communication between the seller and purchaser to help manage correspondent transactions. The platform is fully integrated with Empower, Black Knight’s best-in-class loan origination system (LOS), as well as the company’s premier loan product, pricing and eligibility (PPE) engine.
“Seller Digital is an evolution of traditional correspondent lending platforms, created to deliver a seamless process from pricing to delivery,” said Rich Gagliano, president, Black Knight Origination Technologies. “By building this innovative solution with feedback from correspondent sellers, we were able to amplify the buy/sell experience with the features most important to them without any cluttered add-ons, which are often unnecessarily included in other systems.”
Seller Digital supports the lender’s processes and requirements by giving purchasing lenders the unique ability to manage loan conditions systematically for each purchase transaction. Lenders can filter conditions based on categories and create on-demand notifications for any exceptions that may need attention. Lenders can subscribe to notifications that alert them of any new conditions and can easily upload documents to satisfy these conditions directly from the pipeline view. Decisions regarding the loan are updated to the Empower LOS.
Seller Digital also uses Black Knight’s artificial intelligence solution, AIVA, to automate data and document collection processes, including assessing the completeness of the loan package when sellers upload required documents and setting conditions when information is missing.
“To be competitive in today’s correspondent market, lenders must be able to offer their sellers a simple, self-service platform,” Gagliano continued. “Seller Digital exceeds these requirements with its unique personalization, automation and integration features, while giving lenders the power to customize configurations based on their own specific business requirements.”
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit BlackKnightInc.com.