Black Knight Inc. has premiered Seller Digital, a correspondent lending platform for lenders seeking to track commitment pipelines, manage conditions, and validate pricing to register and lock Best Efforts loans and allocate Mandatory loans to commitments.
According to the Jacksonville, Florida-headquartered company, Seller Digital enables two-way communication between the seller and purchaser during the correspondent transactions. The platform is fully integrated with Empower, Black Knight's loan origination system and product, pricing and eligibility engine, as well AIVA, the company’s artificial intelligence solution for automating data and document collection processes.
Black Knight noted that purchasing lenders using Seller Digital can manage loan conditions systematically for each purchase transaction while filtering conditions based on categories and creating on-demand notifications for any exceptions that may need attention. Lenders can also subscribe to notifications that alert them of any new conditions and can easily upload documents to satisfy these conditions directly from the pipeline view.
"Seller Digital is an evolution of traditional correspondent lending platforms, created to deliver a seamless process from pricing to delivery," said Rich Gagliano, President of Black Knight Origination Technologies. "By building this innovative solution with feedback from correspondent sellers, we were able to amplify the buy/sell experience with the features most important to them without any cluttered add-ons, which are often unnecessarily included in other systems."
Last week, the company announced new capabilities for its Expedite Close digital closing solution, with more detailed, document-by-document guidance to help borrowers through the closing package by allowing for a more efficient, contactless process, up to and including the remote online notarization of all necessary paperwork.
“Unfortunately, with cases rising nationwide, COVID-19 will be impacting in-person closings for quite some time to come,” said Gagliano. “As such, the need for a comprehensive eClose solution has never been greater. Expedite Close meets the challenges of today’s closings and makes the digital mortgage process as simple as possible for both our lender clients and their customers. A fully guided closing experience, coupled with seamless eNotarization and eVaulting capabilities, is precisely the solution for today and the future.”