JACKSONVILLE, Fla., Jan. 24, 2017 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE: BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that its LoanSphere Empower loan origination system will be integrated with PitchPoint Solutions by the second quarter of 2017. PitchPoint is a leading provider of mortgage fraud risk services. The integration will enable Empower users to seamlessly access PitchPoint's tools to help detect fraud schemes, as well as vet third-party providers on first-lien and home equity loan originations to support investor and regulatory compliance.
PitchPoint is used by lenders for validation of settlement agents before working with them on the Closing Disclosure, as well as for wire-transfer verifications. The solution, newly integrated with Empower, also provides other loan-fraud risk tools to support a lending operation, and includes unique alert features and online access to fraud researchers. Users of the Empower loan origination system will be able to easily configure rules and workflow to support the review of risk factors and address each alert to help prevent unnecessary delays to the closing.
With the PitchPoint integration, lenders that use PitchPoint through Empower can streamline their loan fraud tests and vendor vetting -- including wire-transfer instruction verification -- to assist in improving loan productivity. The tests flag fraud and other risk factors related to the borrower, occupancy, undisclosed liens, income, employment, collateral and participants to the transaction. The integrated solution helps confirm that participants, including settlement agents, third-party originators and appraisal management companies, are vetted to work on the loan.
The integration also provides additional tools to assist in detecting cyber fraud, such as fraudulent wire transfer instructions as highlighted in recent Fannie Mae and FBI bulletins.
"The launch of the PitchPoint integration fully leverages the newly enhanced Empower workflow and rules features to perform an assessment of settlement agents associated with the loan and to help lenders reduce risk," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "Black Knight is proud to incorporate integrations that enhance our technologies to further help protect our clients from the cost and negative impact resulting from mortgage fraud."
Black Knight's Empower loan origination system supports the retail, wholesale and consumer direct lending channels, and delivers the functionality to electronically capture and process data throughout the loan origination process. Empower can be hosted by Black Knight or self-hosted by a lender.
PitchPoint Solutions Inc. is a leading provider of mortgage fraud risk services that dramatically streamline underwriting review for fraud schemes to lower operating costs and ensure compliance. The real-time PitchPoint risk reports are highly configurable enabling lenders to instantly effect their solution based on their risk profile and compliance requirements. Visit PitchPoint on the web at www.pitchpointsolutions.com
LoanSphere is Black Knight's premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight's LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance.
Clients that use multiple LoanSphere offerings, such as Empower and/or LendingSpace; Exchange, Quality Insight or Closing Insight; and MSP, are considered Black Knight Enterprise clients and can realize exponential value from the integration of these technologies, as well as the utilization of Black Knight's comprehensive data and analytics.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
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SOURCE Black Knight Financial Services, Inc.