- Black Knight’s LoanSphere Empower and LendingSpace loan origination systems will be integrated with Fannie Mae’s business-to-business integration platform and Freddie Mac’s Loan Advisor Suite
- Black Knight is also developing a collaborative gateway to facilitate the transfer of data between retail/wholesale lenders and correspondent lenders that use LendingSpace
- The integrations support Black Knight’s goal of creating streamlined processes for the delivery of loan data and documents
JACKSONVILLE, Fla. – Oct. 19, 2016 – Black Knight Financial Services, Inc. (NYSE:BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that it will be providing its loan origination system (LOS) clients with the integrations needed to automate the delivery of data and documents to investors, as well as the correspondent lending channel. These direct integrations, offered through Black Knight’s LoanSphere Empower and LoanSphere LendingSpace LOS, will enable lenders to more quickly and efficiently connect to the latest government-sponsored enterprise (GSE) technology solutions and data collection tools in support of the Uniform Closing Dataset (UCD). The UCD integrations include Fannie Mae’s enhanced UCD collection solution and one component of Freddie Mac’s Loan Advisor Suite: Loan Closing Advisor, which will be used to deliver the UCD file. Black Knight has also integrated with two other components of Freddie Mac’s Loan Advisor Suite: Loan Product Advisor, a next-generation automated underwriting tool; and Loan Quality Advisor, which provides specific feedback related to purchase eligibility requirements. All three of these integrations will allow users to review important messages, automate conditions and drive workflow.
Fannie Mae and Freddie Mac are two of the nation’s largest investors in residential mortgages, helping ensure a reliable and affordable supply of mortgage funds is available throughout the country. Empower supports the retail, wholesale and consumer-direct lending channels, and delivers the functionality to electronically capture and process data for every facet of the loan origination process. LendingSpace is a proven, web-based, feature-rich loan origination technology designed specifically for the correspondent lending market.
In addition to these direct GSE integrations, Black Knight’s collaborative gateway will further enhance loan sale and purchase operations between retail/wholesale lenders and correspondent aggregators that use LendingSpace by facilitating secure, systematic and instantaneous transfer of loan data and documents to LendingSpace, replacing manual processes and helping lenders save time, improve data consistency and reduce errors.
“The technology integrations we are delivering for Empower and LendingSpace support our comprehensive approach to provide clients with the broadest connections between systems,” said Jerry Halbrook, president, Black Knight Origination Technologies. “These integrations will help lenders optimize operational efficiencies and originate high-quality loans that meet investor guidelines.”
About Fannie Mae
Fannie Mae is focused on advancing a sustainable and reliable business model that reduces risk to the housing finance system and taxpayers; providing reliable, large-scale access to affordable mortgage credit for qualified borrowers and helping struggling homeowners; and serving customer needs and improving our business efficiency. We are setting responsible standards for the mortgage industry, paying dividend payments to Treasury, and helping homeowners facing hardship keep their homes or avoid foreclosure. For more information, visit www.fanniemae.com.
Fannie Mae’s Integration Platform
The new business-to-business integration platform provides a simple, reliable, and efficient way to connect to Fannie Mae’s technology solutions. By enabling a seamless integration process, the platform is intended to eventually centralize all direct interfaces to our applications. The UCD collection solution is the first available solution on the platform; as of September of this year, lenders and technology solution providers can test and deliver the UCD XML file, in preparation for the September 25, 2017 UCD mandate. Learn more on Fannie Mae’s UCD page.
About Freddie Mac
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for approximately one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog.
Freddie Mac Loan Advisor Suite(SM)
Freddie Mac Loan Advisor Suite(SM) is a new smart, end-to-end technology solution designed to provide lenders with greater certainty and insight into the purchase eligibility of their loans throughout the loan production process. By providing automation and transparency in the loan production process, Loan Advisor Suite assesses credit, capacity and collateral to help lenders validate the quality of the loans they originate. The tools cover the entire loan lifecycle from loan application to closing and beyond; they’re available together in a central Web portal accessed via single sign-on or through many technology solution providers. More information is available at www.freddiemac.com/loanadvisorsuite.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.