- Carrington Mortgage Services will implement Black Knight’s extensive suite of lending solutions, including the Empower loan origination system
- Other Black Knight solutions to be used by Carrington Mortgage Services include Fee Monitoring, eClose and the Actionable Intelligence Platform
- The integrated suite delivers straight-through processing that will help Carrington Mortgage Services enhance efficiency and deliver a better customer experience
JACKSONVILLE, Fla. – May 5, 2020 – Black Knight, Inc. (NYSE:BKI) announced today that Carrington Mortgage Services has signed an agreement to implement a comprehensive suite of Black Knight origination solutions. Carrington Mortgage Services is one of the nation’s largest privately held non-bank lenders, offering a full slate of conventional Fannie Mae, Freddie Mac, FHA, VA and USDA products through its wholesale, retail and correspondent lending channels. The implementation includes the Empower loan origination system (LOS), as well as other Black Knight applications, to help improve operational efficiency, reduce risk and enhance the customer experience.
“Black Knight’s origination solutions suite features the advanced functionality necessary to support straight-through loan processing, which will help us be more productive and, most importantly, better serve our customers,” said Brent Rasmussen, executive vice president and chief information officer for Carrington Mortgage Holdings. “Black Knight has best-in-class solutions and a commitment to innovation that will enable us to further streamline the loan process for our customers and operations, as well as support our future growth plans.”
Carrington Mortgage Services will use Empower, Black Knight’s comprehensive loan origination system (LOS), to support its retail, wholesale and correspondent channels, helping to electronically capture, process, underwrite and close loans on a single platform. The Empower system’s advanced capabilities are designed to automate processing of certain tasks based on the lender’s configuration without the need for constant human intervention – often referred to as “lights-out processing.” The LOS actively monitors for key data changes – or lack of necessary changes – and triggers automated or manual tasks to be completed based on configurable logic, when appropriate.
Integrated with the Empower LOS, Black Knight’s standards-based eSign and eDocument delivery platform supports lenders with securely connecting, ordering and managing loan-related products and services electronically with their approved service providers. Carrington Mortgage Services will also use Black Knight’s Fee Monitoring Service, which minimizes costly fee cures by helping to provide accurate recording fees, transfer taxes, and property tax, title, settlement and inspection data.
To gain maximum visibility into its operations, Carrington Mortgage Services will implement Black Knight’s Actionable Intelligence Platform (AIP). This advanced data-delivery framework combines Black Knight’s extensive data assets, big data ecosystem and enterprise business intelligence capabilities into a single solution. Using an array of pre-configured suites, Black Knight’s AIP helps both lending and servicing clients gain and retain customers, reduce risk and decrease operational costs.
“We are excited to support Carrington Mortgage Services’ unique business,” said Joe Nackashi, president, Black Knight. “By leveraging multiple integrated Black Knight solutions, Carrington Mortgage Services will gain significant value to help drive growth, and enhance the experience for its retail, wholesale and correspondent customers.”
About Carrington Mortgage Services
Founded in 2007, Carrington Mortgage Services, LLC (CMS), a subsidiary of Carrington Holding Company, is a retail, wholesale and correspondent mortgage lender headquartered in Anaheim, Calif. CMS’s diverse product offerings, which are designed to meet the needs of today’s wholesale mortgage brokers and non-delegated originators, include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.