Under pressure from a tight credit and regulatory environment, companies in the mortgage space have responded by leveraging technology to gain more ground. In some cases this has meant adapting current systems to accommodate new processes, and in others, it has meant creating entirely new mortgage technology products.
In this section we highlight products that are game-changers for companies working hard to adhere to regulations while still providing great service to their clients. The list features products ranging from new mobile platforms to a loan-level audit capability that will reshape the way audits are done for years to come.
By tackling the challenges head-on, these companies are setting themselves up for long-term success. The efficiencies they see today will continue to pay dividends in the future as they realize significant gains from a faster, more streamlined process.
Analyzing and acting on data to address regulatory requirements, provide better customer service, reduce risk and improve productivity are critical to achieving success. And, over the years, lenders and servicers have gathered an incredible amount of data, but have struggled with the ability to store, connect, view and analyze that data across the mortgage continuum. High storage costs, computing power, organizational constraints and fragmented sources are just a few of the challenges they have face.
To help itsclients, Black Knight has developed Active Insight, a solution to help lenders and servicers make informed decisions using the vast amount of data they have along with the extensive data from Black Knight.
Active Insight is powered by the Black Knight Data Hub, which enables clients to access all of their loan data on Black Knight systems, such as Black Knight MSP, Empower, and LoanSphere applications, from a central repository.
The data is aggregated, standardized and combined with Black Knight’s industry-leading public records assessor and recorder data. With its “Big Data” tools, the Data Hub continuously collects data and reliably links it across data sets using property addresses, borrower, and loan information to provide the most comprehensive view of mortgage data in the industry. Lenders and servicers can use this data to perform critical functions — from full portfolio monitoring to identifying trends in portfolios to taking action on specific loans.
Active Insight and the Data Hub are built on state-of-the-art Big Data technology — used by many of today’s leading, data-driven companies — to deliver broader and deeper insight into loan portfolios and overall business analytics.
The solution provides comprehensive data coverage, from servicer data housed in MSP, to public records, multiple listing services and McDash Loan Analytics in a secure environment.
“Leveraging our investments in Big Data infrastructure, standards, and visualization technology, our customers can gain insights into their business that were not feasible using previous solutions,” said Ben Graboske, senior vice president of the data and analytics division at Black Knight.
Black Knight embraces and continuously invests in ideas for new product development, research and innovation across the business.
Active Insight is an example of a multimillion dollar investment in an innovative solution to help solve client challenges.
“Clients can manage and mitigate risk through improved visibility into their data assets across the mortgage continuum.
“The Active Insight Dashboard generates innovative views into businesses across functional and operational areas,” said Chip McAvoy, vice president of emerging products and technology.
State-of-the-art Big Data and visualization technologies can now be leveraged in the mortgage industry to help lenders and servicers meet their most critical business challenges.
The value these innovative tools can deliver is exponential – and Black Knight has the technology, investment capability, commitment to innovation and expertise to help its clients capitalize on these possibilities.