The mortgage industry is undergoing massive changes – from skyrocketing costs and increased regulatory pressure to making sense of enormous amounts of data, all while responding to consumer demands for a more digital, mobile and transparent process.
To help lenders and servicers with these business challenges, Black Knight’s LoanSphere offers a unique, end-to-end platform of integrated software, data and analytics that supports the mortgage and home equity loan/line lifecycle – from origination to servicing and default.
“No other platform in the industry integrates innovative lending and servicing systems with powerful data like LoanSphere to help clients optimize results,” said Black Knight CEO Tom Sanzone.
Black Knight built the LoanSphere Data Hub to help mortgage lenders and servicers gain incredible insights into their portfolio. The Data Hub links each client’s origination and servicing data with vast public records and real estate listing datasets. Black Knight then delivers these insights through its proprietary technology channels, such as its LoanSphere solutions, including MSP, SalesEdge, Empower and LendingSpace, so lenders and servicers get this information where and when they need it.
For example, Black Knight’s Motivity Solutions use information aggregated by the Data Hub to alert financial institutions that have both a bank and a mortgage division when bank customers put their homes on the market. This information can then be delivered directly — in real time — to the loan officer’s desktop, so outreach can begin immediately. This valuable insight can help the mortgage company potentially gain two new customers: the initial bank customer listing a home and the person purchasing that home.
In addition, Black Knight has extended the standardized approach and technology of its LoanSphere Empower loan origination system (LOS) through its REST API framework. This enables lenders to provide digital capabilities to consumers and loan officers, who interact with Empower data and other LOS capabilities from internet-enabled devices, such as tablets, smartphones or laptops, without needing to directly access the LOS.
These critical mobile capabilities mean lenders can offer the ability to apply for a loan online to their customers from virtually any mobile device – and change devices during the process. For example, a consumer may start a loan application on their smartphone, review it on a tablet and complete the application on a computer.
Similarly, mobile options give servicers access to information and analytics so they can provide complementary property information, valuation analysis and targeted refi and other offers to their customers on the channel they access most frequently – such as their mobile device. Mobile technology can also help servicers respond to their customers’ questions via the channel the consumer prefers.
“By offering integrated capabilities across the loan lifecycle, Black Knight supports clients with their most complex business challenges by helping them mitigate risk, increase operational efficiency, support compliance and improve financial performance,” said Black Knight President Joe Nackashi.
Tom Sanzone, CEO
Tom Sanzone is the CEO of Black Knight, Inc. and has more than 25 years of experience in the financial services industry, serving as chief information officer and chief accounting officer at some of the world’s largest global financial institutions.
Prior to joining Black Knight, Sanzone was executive vice president at Booz Allen Hamilton. He also has served as chief administrative officer at Merrill Lynch, where he was responsible for global technology, operations and corporate services, representing a team of over 20,000 people. Prior to Merrill Lynch, Sanzone served as chief information officer for Credit Suisse and Citigroup.
Joe Nackashi, President
Joe Nackashi, president of Black Knight, Inc., has more than 25 years of experience providing innovative technology solutions to the financial services industry. Previously, he was executive vice president, chief information officer and head of the servicing solutions and technology division of Lender Processing Services. Prior to LPS, Nackashi was senior vice president and chief technology officer for FIS.