Tuesday, 13 April 2021 | The Latest Buzz for the Appraisal Industry

Black Knight Rolls Out New Tool for the Correspondent Lending Channel

Black Knight Inc. has released Seller Digital, a new correspondent lending platform designed to help lenders track commitment pipelines, manage conditions and validate pricing to register and lock best-efforts loans and allocate mandatory loans to commitments.

The company says Seller Digital fosters two-way communication between the seller and purchaser to help manage correspondent transactions. The platform is fully integrated with Empower – Black Knight’s loan origination system (LOS) – as well as the company’s 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,” says 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 upload documents to satisfy these conditions directly from the pipeline view. Decisions regarding the loan are updated to Empower.

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.

The post Black Knight Rolls Out New Tool for the Correspondent Lending Channel appeared first on MortgageOrb.

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