Black Knight, announced that TIAA Bank will be implementing Black Knight’s fully integrated suite of mortgage origination solutions.
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TIAA Bank is a leading financial services provider headquartered in Jacksonville, Fla., that offers a comprehensive array of conventional Fannie Mae, Freddie Mac, FHA, VA and USDA mortgage products. The bank will use Black Knight’s Empower loan origination system (LOS) to facilitate originations across all its channels, which include retail direct and correspondent lending, as well as several other Black Knight mortgage solutions to help improve operational efficiency, support regulatory compliance, mitigate risk and enhance the client experience.
“We sought a technology partner that could deliver the innovation necessary to substantially increase automation and deliver greater efficiencies to our operations,” said Mike Koster, executive vice president and head of Mortgage Operations for TIAA Bank. “As a trusted servicing partner for 55 years, Black Knight’s technology and commitment to development and advancement made them a top choice as we move forward with our plans for future growth and our ongoing commitment to improve the experience for our clients.”
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Black Knight’s comprehensive Empower LOS will enable the bank to electronically capture, price, process, underwrite and close loans on a single platform. To increase efficiencies, TIAA Bank will use Black Knight’s artificial intelligence capabilities to support document classification in both the retail and correspondent channels. The service will also allow clients to securely execute documents online, saving time and reducing out-of-pocket costs.
“Black Knight and TIAA Bank have enjoyed a long and collaborative relationship, and we both share a solid commitment to continued innovation,” said Joe Nackashi, president, Black Knight. “The additional, advanced Black Knight capabilities TIAA Bank is now implementing will help the bank to manage its origination business more effectively and provide customers with a better mortgage experience. And, because they are currently an MSP customer, TIAA Bank will benefit from increased efficiencies of our integrated platforms. We are very happy to be a part of the bank’s continued growth.”
