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[ad_1] Optimizing the mortgage process means finding fast, efficient solutions for each part of the customer journey. When it comes to origination, modernization is key to enhancing the customer experience, improving overall cycle times and increasing overall profit. Regardless of the size of a lending business, having the right origination software is the first step in creating a homebuying experience built for the 21st century. Black Knight, a leader in providing integrated software solutions, has delivered a system for lenders of all sizes. Empower, Black Knight’s loan origination system (LOS), offers an end-to-end digital platform that supports retail, consumer-direct, home equity, correspondent, wholesale and assumption channels – all in a single system. “A preconfigured and fully integrated platform eliminates the need for disparate third-party systems, making it a true all-in-one solution for origination,” explained Joe Nackashi, CEO of Black Knight. Empower supports first mortgages, home equity loans and lines of credit and also features integrations with a full suite of high-performing Black Knight origination solutions including an industry-leading product and pricing engine, fee service, compliance validation testing, a digital point of sale system, eClose, business intelligence and more. “Empower is helping lenders reduce, and in some cases, eliminate many pain points in today’s origination process by delivering configurable, dynamic capabilities in one complete system,” said Rich Gagliano, president of origination technologies. Black Knight’s LOS supports data integrity and security all while eliminating the errors and duplicate entries common with using multiple systems. The system also provides management reporting on user productivity and loan metrics derived from a beginning-to-end workflow that can reduce costs and manual tasks. By decreasing friction and eliminating touchpoints in the origination process, Empower provides lenders, loan officers and borrowers a faster, smoother and more streamlined borrowing experience. The system’s bundled, configurable approach helps lenders scale their business to any market condition with an all-inclusive, seamlessly integrated digital ecosystem – at one low cost per loan. “Using this single platform, lenders gain access to API-based integrations and advanced workflow capabilities to deliver a complete digital mortgage experience to their borrowers,” said Craig Rebmann, managing director of origination technologies and product management. Through the automation of repetitive tasks based on the lender’s configurations, Empower reduces the need for human intervention. Referred to as “lights-out processing,” this advanced technology actively monitors the system for any data changes. When an exception occurs, Empower triggers a separate work item and alerts the user that additional reviews are needed, significantly reducing the need for lenders to shift focus and significantly increasing productivity and profit in turn. Empower also integrates with Black Knight’s artificial intelligence/machine learning solution that can improve the work process by reading, comprehending and drawing conclusions based on document or data content, leaving little room for human error.  “It can take on ‘stare-and-compare’ and validation responsibilities, such as verification of income, assets and insurance more accurately and at scale,” Gagliano noted. “Using these and other automated capabilities, lenders can manage production more quickly and effectively while reducing the overall cost per loan.” Joe Nackashi, Chief Executive Officer   Joe Nackashi leads the company’s overall vision and direction for Black Knight to provide premier solutions and services for many of the nation’s largest lenders and servicers. Rich Gagliano, President, Origination Technologies Rich Gagliano is responsible for the overall strategy and product direction of Black Knight’s origination technologies. Craig Rebmann, Managing Director Origination Technologies Product Management Craig Rebmann is responsible for building and enhancing Black Knight’s loan origination system, Empower. With decades of technology and mortgage experience, Craig leads Black Knight’s efforts in the development of LOS technology. The post Black Knight’s Empower offers an end-to-end digital platform that decreases friction in origination appeared first on HousingWire. [ad_2] Source link

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[ad_1] Surprisingly, accounting inefficiencies, particularly in the areas of tracking, collecting, reconciling, and distributing appraisal fees, are costing some lenders tens of thousands of dollars, sometimes even more, every year – dollars that could be going straight to their bottom line. In today’s business environment, lenders look for every opportunity to streamline and optimize their operations to reduce their origination costs on each loan.  As part of its recently enhanced Valuation Workflow Solution, CoreLogic launched a new Accounting Automation suite that can quickly help lenders reduce the costs associated with invoice processing and accounts payable overhead while simplifying their tax record management processes. CoreLogic’s comprehensive Accounting Automation suite is designed to streamline appraisal payment processing, accounting reconciliations, and all the manual headaches associated with verifying the timely payment of appraisal vendors.  The Accounting Automation suite helps eliminate many common pain points, including: Having to combine fees prior to paying vendors Reconciling complex Appraiser, AMC and lender fees Being unable to refund the borrower as needed easily Determining exactly what was disclosed, how much was collected, which ancillary fees were charged, and who is owed what prior to closing Managing 1099 issuance and TIN matching for appraisal vendors Accounting Automation creates a simple and secure way for the borrower to pay for their appraisal using their credit card. As appraisal orders are completed, payments to appraisers and AMCs are automatically paid via direct deposit, and all transaction records are easily accessible for simple account reconciliation. Ensuring timely and accurate appraisal payments are made simple with Accounting Automation. The payment process can be integrated with a lender’s LOS and white-labeled with a lender’s logo and branding to ensure a seamless borrower experience. The lender’s implementation process for Accounting Automation is simple. CoreLogic creates a payments account for you, activates the functionality, and notifies third-party vendors of the change in the process. Given Mercury Network’s and CMS’s broad industry adoption, chances are your third-party service providers are already connected to Accounting Automation. And the solutions’ vendor satisfaction is high – who doesn’t appreciate receiving fast and reliable payments? Vendors can also view and download reports detailing the payment status on every order. These features help reduce confusion and questions and help to foster better relationships. “In addition to helping lenders avoid revenue losses, by automating the accounting process, our new Accounting Automation solution helps lenders scale more quickly because they are not spending the additional time it takes to manually reconcile invoices and generate payments,” said William Gillis, Sr. Leader, Marketing at CoreLogic. “The solution also creates a standard payment process for appraisal vendors, which many lenders don’t have today.” The Accounting Automation suite helps lenders reallocate personnel from the manual collection, payment, and reconciliation processes to more urgent business concerns. Beyond just automating the accounting process, the solution can help lenders protect their bottom line from costly appraisal fee cures and realize significant value.  William Gillis, Sr. Leader, Marketing William Gillis leads Product Marketing for Collateral Risk Solutions & Loan and Borrower Solutions for CoreLogic. The post CoreLogic’s Accounting Automation suite can quickly help lenders streamline appraisal payment processing appeared first on HousingWire. [ad_2] Source link

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[ad_1] Today’s lenders must be as agile, efficient and scalable as possible to respond to evolving consumer preferences and fast-changing market conditions. Encompass by ICE Mortgage Technology is the industry’s most complete end-to-end solution that provides the flexibility and configurability needed to deliver a next-generation lending experience for every channel, all from a single system of record. As the only truly digital lending platform that provides an all-in-one workflow for omnichannel lenders, Encompass helps customers generate more leads, close more loans and drive unparalleled ROI. By managing every loan, including home equity, refinance or new purchase, in one place, lenders are also able to make better decisions, keep costs down and quickly adapt to changing market trends.  Due to recent market shifts, there is an increased demand from consumers for home equity lending products. With Encompass, lenders can feel confident in knowing their LOS platform has the flexibility to support home equity lending at scale. Customers can drive applications with an array of leading point-of-sales solutions, as well as retain and build referral business through seamless integrations with sales and marketing solutions, such as Velocify. Encompass also delivers on being the most compliant LOS with dynamically generated required disclosures and HMDA reporting to support home equity lending.  “We partner with customers to understand their pain points and identify opportunities where we can minimize complexity in their processes. Encompass is designed to grow and adapt with their business, so their loan origination system is ready for whatever comes their way,” said Stephanie Durflinger, SVP, Product Management. Encompass is equipped with powerful technology to automate any task, process or service within a matter of clicks. By automating previously manual and time-consuming tasks, lenders and investors can acquire, originate, close and sell significantly more loans in less time, all while delivering a best-in-class borrower experience. Encompass also offers a task-based workflow that enables operations managers to easily create, assign, manage, and track all their loan tasks in a single unified interface. With Encompass eClose, Encompass customers also benefit from having a single workflow for their closing process. For wet-signed loans to a full eClosing and everything in between, now lenders can have one partner, one workflow, one source and one network for it all.   Unlike other solutions, Encompass also allows mortgage lenders and investors access to the largest network of partners in the industry. The Marketplace by ICE Mortgage Technology includes thousands of leading mortgage companies that span the full gamut of technology solution categories, from mortgage servicing and title, to escrow, automated underwriting services and many more. Through pre-built, bi-directional API integrations, customers can utilize these trusted, proven solutions to enhance and digitize their lending workflows. With a long history as an industry leader, ICE provides a wealth of experience, compliance expertise and data-driven insights that no one else can match. Through best-of-breed automation and data, Encompass is helping customers reduce costs, increase revenue and deliver better customer experiences at every step of the loan lifecycle. Stephanie Durflinger, SVP, Product Management Stephanie Durflinger is Senior Vice President of Product Management for the full suite of digital mortgage solutions at ICE Mortgage Technology. The post Encompass by ICE Mortgage Technology provides an all-in-one workflow for omnichannel lenders appeared first on HousingWire. [ad_2] Source link

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