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Eye on the Industry: Updates on Black Knight, Churchill, and More

From announcements of key hires to joint ventures and platform integration, catch the latest from the mortgage industry in this update.

Florida-based Black Knight Inc. has announced that U.S. Bank has chosen its Servicing Digital Solution to supplement its internal capabilities and offer its customers ongoing, detailed information about their loans, and tools to manage their housing wealth.

The web solution delivers detailed, timely, and highly personalized loan information to U.S. Bank mortgage customers about their loans, and provides “what-if” simulators and tools to show how wealth can be built from these real estate assets.

Black Knight said that Servicing Digital is a consumer-centric, responsive web and mobile solution that gives customers of financial institutions fast, around-the-clock access to home and loan information that is relevant and easy to understand. The solution was built with the consumer’s needs in mind and provides servicers with a platform for continual engagement with their customers to build stronger relationships.

“At U.S. Bank, we work hard to provide simple and useful customer experiences by offering tools such as the new Servicing Digital solution,” said David Little, EVP of Servicing and Default at U.S. Bank. “This update allows us to give customers valuable details about their most important asset, their home.”

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Tennessee-based Churchill Mortgage, a provider of conventional, FHA, VA, and USDA residential mortgages across 46 states, announced a joint venture with American Home Title to found Churchill Title Solutions, a title company intended to streamline the origination process and create a secure mortgage experience for borrowers, real estate agents, and lenders.

Available to all lenders in every U.S. state, Churchill Title Solutions will provide borrowers the option of pursuing a digital mortgage, streamlining (or entirely eliminating) some tedious processes associated with traditional title management, while expediting lenders’ time to close. In addition, the joint venture will close potential security gaps within the mortgage process and help lenders and real estate agents provide borrowers with peace of mind that their information is safe and secure.

“With the engagement and commitment of both companies’ staff and leadership, we’ve established a synergistic joint venture that will allow Churchill Title Solutions to become an integrated part of Churchill’s streamlined origination process,” said Jack Goisse, President of American Home Title. “This joint venture will employ solutions to ensure efficiency, security and transparency to all stakeholders providing a consistent and stress free experience.”

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California-based Cloudvirga, a provider of digital mortgage point-of-sale (POS) software, and Ellie Mae, a cloud-based platform provider for the mortgage finance industry have announced an official partnership that integrates Cloudvirga's POS software with Ellie Mae's Encompass digital mortgage solution.

The joint solution is a fully bi-directional integration that seamlessly maps all data fields, from disclosure tracking to itemization of fees, creating a more robust dataset than a FNMA 3.2 file. Additionally, both systems are fully synchronized whether the origination teams are in the Cloudvirga POS or Encompass.

"Cloudvirga's integration with Ellie Mae is the result of years of development and tens of thousands of closed loans on Cloud Virga's POS," said Tim Von Kaenel, Chief Product Officer at Cloudvirga. "Together, Cloudvirga and Ellie Mae bring exceptional user experience to both borrowers and loan originators while dramatically driving down the cost of lending."

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Sudhir-Nair

LoanCare, a ServiceLink Company, has named Sudhir Nair as its new EVP and CIO. Nair, who has nearly two decades of experience in the mortgage and consumer lending sector, will be responsible for planning, organizing, optimizing, and managing the overall operation of LoanCare's IT department. He will also provide strategic leadership to ensure operational services are supported in a timely and cost-effective manner.

"We are excited to have Sudhir join our executive team. Given his expertise, we're confident that he will help take our business to the next level," said Dave Worrall, President of LoanCare. "We are committed to innovation and providing the best digital mortgage experience for our customers and clients and we look forward to seeing how Sudhir can position us for the future."

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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