Black Knight Launches Early Warning Suite To Identify Loans That May Be Affected By Natural Disasters

Black Knight, Inc. launched its new Early Warning Suite designed to help lenders identify and avoid closing on loans affected by natural disasters, while enhancing performance management capabilities and improving communications with borrowers, according to a press release.

The first-of-its-kind solution is available via Black Knight’s Actionable Intelligence Platform (AIP), which is integrated with Empower, the company’s Loan Origination System (LOS).

“Our new Early Warning Suite helps lenders respond faster to the impact of natural disasters on loans in their pipelines by giving them actionable analytics that drive better, more informed decisions,” said Rich Gagliano, president, Black Knight Origination Technologies. “The unique insights we deliver help prevent lenders from closing on loans for affected properties without further review, while at the same time helping build better relationships with borrowers by proactively letting them know where their loans stand.”

The AIP Early Warning Suite helps protect a lender’s origination pipeline from losses and costs by highlighting the potential impact of natural disasters, according to a press release.

By defining an event or a pre-FEMA-declared disaster at the property address level, lenders can postpone the closing on a loan that has been in the crosshairs of devastation until further review has been conducted. The ability to geocode and define boundaries of a disaster event as it moves or expands from day-to-day, as well as the ability to place a property address inside those boundaries, helps lenders stay ahead of federal disaster data. Additionally, loan officers can improve the borrower experience by communicating next steps for the impacted loan, such as a reappraisal or an inspection, if necessary.