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Black Knight, Inc. acquired a cloud-based loan origination system (LOS) from NexSpring Financial, LLC to broaden Black Knight's ability to serve mortgage brokers, according to a press release. The new digital lending platform will be a key part of the company's integrated, end-to-end ecosystem.
The platform will be seamlessly integrated into the Black Knight Empower LOS, so brokers using the new digital lending platform and wholesalers using Empower will benefit from a more streamlined and connected experience, according to Black Knighht. The power and value of the new platform will be further enhanced by integrations with Black Knight's comprehensive suite of origination performance solutions, including a single point to order services and obtain fees, compliance validation testing, actionable data and analytics, and Black Knight's enhanced, broker-focused Optimal Blue Loansifter product, pricing and eligibility engine (PPE).
"Black Knight is on a mission to share the advantages of our high-performance software, data and analytics with mortgage brokers, who represent the fastest-growing origination channel in the industry," said Anthony Jabbour, CEO, Black Knight. "This broker-specific digital lending platform enables these entrepreneurs to benefit from many of the same powerful capabilities used by large lenders on a platform that meets their own unique needs and can easily scale as their business expands."
The platform – which also features a mobile-friendly application – is designed for entrepreneurial originators looking for a better and more efficient way to originate loans, according to the press release. The digital lending platform supports collaboration between all stakeholders in the origination process – borrowers, processors, brokers and real estate agents – by enabling them to collaborate securely on the same loan platform.
"Through further development and integration with the wider Black Knight mortgage ecosystem, we are confident that the new digital lending platform will be quickly recognized as the industry's premier solution for mortgage brokers," said Mike Fabian, CEO, NexSpring.
The platform is configurable and allows for the deployment of new business rules into production in a transparent and controlled way, according to Black Knight. Users can also leverage proprietary content management system-enabled marketing tools, which can be accessed via a drag-and-drop lead form generator with embedded analytics.