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Black Knight, Inc. launched its new Seller Digital correspondent lending platform. The new platform gives lenders the ability to track commitment pipelines, manage conditions and validate pricing to register and lock Best Efforts loans and allocate Mandatory loans to commitments.
Seller Digital provides two-way communication between the seller and purchaser, according to a press release. The platform is fully integrated with Empower, Black Knight's loan origination system, as well as its PPE engine.
"Seller Digital is an evolution of traditional correspondent lending platforms, created to deliver a seamless process from pricing to delivery," said Rich Gagliano, president, Black Knight Origination Technologies. "By building this innovative solution with feedback from correspondent sellers, we were able to amplify the buy/sell experience with the features most important to them without any cluttered add-ons, which are often unnecessarily included in other systems."
Seller Digital gives purchasing lenders the ability to manage loan conditions systematically for each purchase transaction. Lenders can filter conditions based on categories and create on-demand notifications for any exceptions that may need attention, according to the release. Lenders also have the ability to subscribe to notifications that alert them of any new conditions and can easily upload documents to satisfy these conditions directly from the pipeline view. Decisions regarding the loan are updated to the Empower LOS. Seller Digital also uses Black Knight's artificial intelligence solution, AIVA, to automate data and document collection processes.
"To be competitive in today's correspondent market, lenders must be able to offer their sellers a simple, self-service platform," added Gagliano.