JACKSONVILLE, Fla., March 16, 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 it is offering LoanSphere Empower Now!, a version of Empower, the company's comprehensive loan origination system (LOS) that will enable regional and mid-market lenders, as well as independent mortgage bankers, to reap the benefits of the powerful Empower LOS with a greatly streamlined implementation process, resulting in reduced timelines and cost.
Empower Now! enables lenders to implement Empower functionality, which has been configured based on the industry's most common lending practices. Lenders can then add configurations and additional feature functionality, which will allow them to remain on the same system as their business grows, and to adjust system parameters to meet their specific compliance needs.
Additionally, Empower Now! is seamlessly integrated with Black Knight's LoanSphere MSP servicing platform, which is leveraged directly by approximately 70 servicers that represent hundreds of other lenders and financial institutions throughout the country.
Typical implementations for Empower Now!, which include testing and training, can be completed in less than half the time of a standard Empower implementation and at a lower cost.
"Historically, regional and mid-market lenders have selected an LOS to meet their immediate needs, knowing that they may eventually need a different solution to accommodate future growth. Then, as they expanded, these lenders had to migrate to a new system to meet the more robust requirements of their growing business and scalability needs," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "With Empower Now!, lenders that are on a growth track can add new features and business channels without having to implement a new system. As a result, regional and mid-market lenders can access the same world-class origination technology capabilities as larger lenders, with an affordable financial investment and a considerably shorter implementation timeline."
Additionally, many of Black Knight's value-added offerings are included in Empower Now!. Lenders can gain access to Black Knight's Data Hub and Motivity solutions, which provide comprehensive business intelligence and near real-time access to information from multiple data sources to help forecast and monitor performance. Empower Now! also includes e-delivery and e-signing capabilities, as well as integrations to LoanSphere Exchange, public records and borrower asset and income information, and digital technology, without the need for toolkits.
"This unique solution allows Black Knight to offer a comprehensive, integrated solution to our regional and mid-market MSP, Motivity and Expedite lending clients with a much stronger value proposition than other LOS technology providers. We are also the only provider that can deliver an end-to-end integrated technology platform that supports the entire mortgage loan lifecycle – from origination to servicing to default," said Black Knight president and CEO Tom Sanzone. "By integrating our comprehensive LOS technology with MSP, business intelligence tools, e-capabilities and digital technologies, we are helping lenders become more efficient, profitable and provide better customer service to their borrowers."
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.
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.