|By PR Newswire||
|October 24, 2016 04:05 PM EDT||
JACKSONVILLE, Fla., Oct. 24, 2016 /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 that its LoanSphere Empower loan origination system (LOS) and LoanSphere Exchange collaborative platform are powering Fannie Mae's Day 1 Certainty™ with direct integration to Fannie Mae's DU validation service. This integration will enable lenders to be released from Fannie Mae's required representations and warranties when utilizing the DU validation service via Desktop Underwriter, an automated underwriting system that assesses loan credit risk and determines if a loan meets Fannie Mae's eligibility requirements.
Lenders that access Black Knight's Exchange technology through the Empower LOS or through the web can immediately start using the DU validation service, which provides automated income validation. Instead of obtaining copies of borrower pay stubs or other income verification documents, lenders originating Fannie Mae loans can use the Exchange to access third-party service providers who are also connected with Fannie Mae's DU validation service to verify income. This helps lenders enhance process efficiencies, reduce buy-back risk and improve cycle times.
"Black Knight collaborated closely with Fannie Mae to test the functionality of the DU validation service on Empower and Exchange so our clients could immediately take advantage of the system and the benefits it offers," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "The direct integration with DU is part of our continued focus on helping lenders support GSE technology solutions and improve their operational efficiency."
Black Knight's Exchange is a collaborative platform that provides integration, data management, decisioning support and workflow management through a 24/7 data exchange. Empower is an enterprisewide LOS that supports the retail, wholesale and consumer direct lending channels, and delivers the functionality to electronically capture and process data for every facet of the loan origination process.
About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com. Day 1 Certainty is a trademark of Fannie Mae, and Desktop Underwriter and DU are registered trademarks of Fannie Mae.
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), a Fidelity National Financial (NYSE:FNF) company, 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.
For more information:
Black Knight Financial Services
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SOURCE Black Knight Financial Services, Inc.
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