Black Knight’s LoanSphere Verified by GSEs for UCD Files
July 12, 2017
Black Knight Financial Services (BKFS) has announced that its LoanSphere Empower loan origination system (LOS) has been verified by Fannie Mae and Freddie Mac to generate Uniform Closing Dataset (UCD) files. Black Knight worked closely with Fannie Mae and Freddie Mac to generate and submit UCD test files to verify that Empower’s functionality meets the complex specifications of the UCD format. The fully verified version of the UCD file was made available in the 7.0 release of Empower.
Empower provides system-to-system integrations with Fannie Mae’s UCD collection solution, as well as Freddie Mac's Loan Closing Advisor. These integrations allow Empower users to generate a UCD file directly in the LOS, submit files to Fannie Mae and Freddie Mac for quality and eligibility checks prior to loan close, receive feedback, and then make any necessary changes based on those findings.
“Empower delivers a streamlined and efficient method for lenders to generate and submit UCD files, as well as correct any findings before a loan closes,” said Jerry Halbrook, President of Black Knight’s Origination Technologies and Enterprise Business Intelligence Divisions. “Black Knight collaborated with Fannie Mae and Freddie Mac to test the Empower functionality, and we are pleased that the system is verified by them. We continually make investments in Empower and our other origination technologies to support investor guidelines and to deliver robust, innovative functionality that will help lenders realize greater efficiencies, maintain regulatory compliance, enhance the customer experience and drive financial performance.”
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