Black Knight Unveils Regulatory Assist Solution
October 21, 2019
Black Knight Inc. is now offering its Regulatory Assist solution, which is designed to work with both the Black Knight Empower loan origination system and other loan origination in streamlining compliance-testing process.
According to the Jacksonville, Fla.-based company, Regulatory Assist is a centralized rules engine that can perform a broad scope of both state and federal loan-level compliance validation tests at greater speeds. As a result, clients can to run "lights-out" validations based on the client's configuration, with no manual intervention by leveraging the Empower Orchestration Engine, or run specific regulatory tests from a "Quick Select" screen. Regulatory Assist displays an overall risk level and other important messages to assist clients with understanding test results while alerting lenders when actions may be required. Test results are saved as a PDF and stored in the Empower document repository for future reference.
"Black Knight offers several services today to support our clients' compliance requirements, and we are excited to expand that support with the launch of Regulatory Assist," said Rich Gagliano, president of Black Knight Origination Technologies. "Compliance testing can add significant time and cost to the loan origination process. By embedding state and federal compliance checks in the origination process via Empower, Regulatory Assist will significantly streamline loan-level testing, which can result in reduced operational costs."
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