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Empower Incorporates HMDA Rule, New Tech Integrations

Black Knight Financial Services announced last week the release of LoanSphere Empower 7.0, a new version of its loan origination system (LOS), including updates aimed at compliance with the Consumer Financial Protection Bureau’s (CFPB) Home Mortgage Disclosure Act (HMDA) and enhanced technological integrations.

“Empower 7.0 offers dynamic, innovative capabilities to help clients deliver an exceptional customer experience, increase productivity and address regulatory requirements,” said Jerry Halbrook, President of Black Knight’s Origination Technologies Division.

Empower, which serves retail, wholesale, and consumer-direct lenders, now has data requirements such as borrower demographics, loan costs, property information, automated underwriting system information, a Legal Entity Identifier, and Universal Loan Identifier—all to comply with the final HMDA rule.

Additionally, the newly released version of Empower allows lenders to access and use the LOS from multiple devices, including mobile devices.

Empower 7.0 features a new user interface aimed at “more intuitive navigation and a simplified screen presentation,” according Black Knight.

The company also integrated other tech offerings into Empower to streamline the origination process. Lenders can now access Black Knight’s Tax for Loan Estimation and Tax for Closing Estimation; PitchPoint for fraud-risk detection; LoanSphere Loan Boarding file optimization for servicing; and LoanSphere Expedite’s eSign and eDelivery functions.

Empower is fully integrated with LoanSphere MSP, Black Knight’s loan servicing system.

Also, Black Knight offers Empower Now!, which aims to streamline implementation for regional, mid-market, and independent mortgage lenders.

About Author: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.
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