Black Knight delivered several enhancements in its latest release of CompassPPE, the company’s modern, robust product, pricing and eligibility engine
Black Knight, announced a new release of CompassPPE, the company’s robust and modern product, pricing and eligibility engine (PPE). Designed to deliver even greater efficiencies and transparency, the recent enhancements expand workflow capabilities and automation, streamlining origination and secondary market processes. The latest release of CompassPPE represents Black Knight’s continued commitment to delivering innovations in product functionality to help clients improve profit margins and streamline the approval process.
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With the recent CompassPPE release, loan officers can now compare product and pricing options for multiple loan scenarios in a single search, helping them save time and improve efficiencies. Additionally, the rate summary view has been expanded and the best-priced program at each rate is displayed. Lenders also have the ability to manually edit rate adjustments, allowing them to generate off-sheet pricing for loan officers, while leveraging the historical pricing automation of CompassPPE’s Pipeline Monitoring service.
Building on CompassPPE’s existing support of features for branch managers, the new release supports the ability to view margin and pricing details as designated by the secondary market team. This new visibility can be used in conjunction with CompassPPE’s automated branch manager concession workflow.
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For secondary market managers, Black Knight enhanced the request-exception workflow to streamline the approval for lender-paid extensions to help clients during this high-volume environment. In addition, CompassPPE now offers a new price audit for lenders that use blended products. If the best-priced product in the blend exceeds a specified threshold on a lock request, secondary market managers can receive a notification with additional price details on the scenario, providing increased visibility to potential mispricing.
“The capabilities in the recent release of CompassPPE promote an enhanced user experience, simplified workflow and increased visibility into potential mispricing,” said Kevin Foley, Product Manager of CompassPPE. “By building on our existing capabilities with these powerful new features for loan officers and secondary market managers, we are continuing to focus on helping reduce manual touchpoints during the loan origination process to provide a more consistent experience and decrease the cost per loan.”
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