Source: Black Knight Financial Services
Black Knight Financial Services, Inc. (BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that PNC Bank N.A., a member of The PNC Financial Services Group, Inc. and one of the largest diversified financial services institutions in the U.S., will implement Black Knight solutions.
- LoanSphere Empower - a comprehensive loan origination system (LOS) to support originations of first mortgages and home equity loans, which is used by lenders to manage retail, wholesale and consumer direct channels. The Web-based, enterprise LOS helps lenders electronically originate, process and close loans, and includes LoanSphere SalesEdge and LoanSphere Driver products, to support lead generation and reporting;
- LoanSphere Exchange - an open technology platform that provides integration, data and workflow and decisioning support through a 24/7 data exchange that connects more than 17,000 of the mortgage industry's service and solution providers with the top lenders in the industry. PNC will be able to access Exchange directly from Empower;
- LoanSphere Quality Insight - a loan quality assessment tool that automates internal quality control reviews, provides consistent feedback on investor and lender compliance requirements, supports remediation and exception processing, improves data integrity and reduces repurchase requests; and
- Data and analytics offerings - solutions that help lenders and servicers improve performance; identify, reduce and mitigate risk; satisfy regulatory requirements; leverage cost savings; and create opportunities for growth.
After the Empower conversion is complete, PNC Bank will be a Black Knight Enterprise client, utilizing Black Knight technologies to manage its end-to-end mortgage and home equity operations. The new products being implemented will combine with existing capabilities provided by Black Knight -- including LoanSphere MSP; LoanSphere Bankruptcy and Foreclosure; LoanSphere Invoicing; LoanSphere Closing Insight; and insightful data and analytics -- to provide this end-to-end platform capability.
"Black Knight's technology solutions will support PNC Bank's mortgage and home equity operations and will help the company meet its compliance obligations and achieve greater efficiencies across the loan lifecycle," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "This combination of Black Knight's technologies will deliver end-to-end capabilities to help PNC Bank manage its portfolios from point of sale through default. As a Black Knight Enterprise client, PNC Bank will be positioned to realize exponential value from Black Knight's comprehensive LoanSphere platform."
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