Black Knight Launches Regulatory Assist Solution to Help Lenders Address Complex Compliance Challenges

- Using Regulatory Assist, clients will be able to seamlessly perform a wide range of state and federal loan-level compliance validation testing

- By integrating Regulatory Assist into the Black Knight Empower loan origination system, client compliance testing is incorporated directly into the origination workflow

- The solution returns a report to the Empower system identifying the overall risk of a loan, as well as the status of each test

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Black Knight, Inc.

Oct 21, 2019, 09:00 ET

JACKSONVILLE, Fla., Oct. 21, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, announced the launch of its Regulatory Assist solution. Regulatory Assist, which integrates directly with the Black Knight Empower loan origination system – as well as other loan origination platforms – is designed to help clients streamline the time-consuming compliance-testing process and make compliance validation easier and quicker.

Regulatory Assist is a centralized rules engine that enables clients to more easily and quickly perform a broad scope of both state and federal loan-level compliance validation tests. Using this new solution, clients will be able to run "lights-out" validations based on the client's configuration, with no manual intervention by leveraging the Empower Orchestration Engine, or run specific regulatory tests from a "Quick Select" screen.

The integration of Regulatory Assist with Empower incorporates client compliance testing directly into the origination workflow to create real-time tasks and loan conditions.

Regulatory Assist displays an overall risk level and other important messages to assist clients with understanding test results. The solution alerts the lender when actions may be required and supports on-the-go issue remediation.

Regulatory Assist offers configurability based on a client's business needs. For example, clients can change certain tolerance levels or remove tests if certain regulations do not apply. Test results are saved as a PDF and stored in the Empower document repository for future reference. These results can also be viewed using Black Knight's business intelligence dashboards enabling the client to drill down on the loan and view current activity as well as review historical compliance testing results for additional insights.

"Black Knight offers several services today to support our clients' compliance requirements, and we are excited to expand that support with the launch of Regulatory Assist," said Rich Gagliano, president, Black Knight Origination Technologies. "Compliance testing can add significant time and cost to the loan origination process. By embedding state and federal compliance checks in the origination process via Empower, Regulatory Assist will significantly streamline loan-level testing, which can result in reduced operational costs."

About Black Knight
Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.