Black Knight Introduces Digital Origination Suite; Enhances Mortgage Application and Approval Process for Loan Officers and Borrowers Alike
Black Knight, a leading provider of integrated software, data and analytics to the mortgage and real estate industries, announced the launch of two new digital solutions to advance the loan application and approval process for both consumers and loan officers. The suite of user-centric, responsive web-designed solutions includes Borrower Digital and LO Digital. Borrower Digital simplifies the loan application process by leveraging Black Knight’s artificial intelligence capabilities at the point of sale and throughout the approval process, while LO Digital gives loan officers the ability to provide superior support to their customers anytime, anywhere.
“The past six months have clearly demonstrated the need to be able to work from anywhere. LO Digital now brings that ability to loan officers everywhere,” said Rich Gagliano, president of Black Knight Origination Technologies. “Combined with the intuitive functionality the Borrower Digital application brings to the customer experience, Black Knight has further transformed, streamlined and simplified the loan prequalification and application process for everyone involved.”
Borrower Digital guides the homebuyer through the prequalification, preapproval and refinance process via a simple, intuitive Q&A format, validating data and documents along the way. Its automated workflow alerts the homebuyer about immediate next steps, providing a self-guided process for the customer. AIVA, Black Knight’s artificial intelligence solution, helps the borrower upload identification and other supporting documentation, while assessing whether the appropriate documents were received. Information is routed from the consumer to the loan origination system and vice versa, with AIVA providing near-real-time feedback.
LO Digital is designed specifically for loan officers to manage the details of each application through an intuitive dashboard, allowing them to easily lead the homebuyer throughout the mortgage application process, respond to borrower questions along the way, and view the same information the borrower sees. The solution also provides a single application for loan officers to access loan products, pricing, pipeline, rate-locking, loan status and automated third-party service orders. With its tight integration to Black Knight’s Empower loan origination system (LOS), loan officers can work within the LOS Digital application from any mobile device, while simultaneously updating the loan information in Empower, eliminating the need to rekey data and confirming data integrity and consistency from the beginning of the loan process. Ultimately, all information gathered in LO Digital and updated in Empower can be seamlessly transferred to the MSP servicing system at loan boarding and integrated with Black Knight’s consumer-facing Servicing Digital solution.