TIAA Bank is a leading financial services provider headquartered in Jacksonville, Fla., that offers a comprehensive array of conventional Fannie Mae, Freddie Mac, FHA, VA and USDA mortgage products. The bank will use Black Knight's Empower loan origination system (LOS) to facilitate originations across all its channels, which include retail direct and correspondent lending, as well as several other Black Knight mortgage solutions to help improve operational efficiency, support regulatory compliance, mitigate risk and enhance the client experience.
"We sought a technology partner that could deliver the innovation necessary to substantially increase automation and deliver greater efficiencies to our operations," said Mike Koster, executive vice president and head of Mortgage Operations for TIAA Bank. "As a trusted servicing partner for 55 years, Black Knight's technology and commitment to development and advancement made them a top choice as we move forward with our plans for future growth and our ongoing commitment to improve the experience for our clients."
Black Knight's comprehensive Empower LOS will enable the bank to electronically capture, price, process, underwrite and close loans on a single platform. To increase efficiencies, TIAA Bank will use Black Knight's artificial intelligence capabilities to support document classification in both the retail and correspondent channels. The service will also allow clients to securely execute documents online, saving time and reducing out-of-pocket costs.
"Black Knight and TIAA Bank have enjoyed a long and collaborative relationship, and we both share a solid commitment to continued innovation," said Joe Nackashi, president, Black Knight. "The additional, advanced Black Knight capabilities TIAA Bank is now implementing will help the bank to manage its origination business more effectively and provide customers with a better mortgage experience. And, because they are currently an MSP customer, TIAA Bank will benefit from increased efficiencies of our integrated platforms. We are very happy to be a part of the bank's continued growth."
About TIAA Bank
TIAA Bank, a division of TIAA, FSB, provides full-service banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online and its Florida-based financial centers. More information on TIAA Bank can be found at TIAABank.com.
About Black Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com.
SOURCE Black Knight, Inc.