JACKSONVILLE, Fla., Oct. 19, 2015 /PRNewswire/ -- At a press briefing today, held during the MBA Annual Convention & Expo 2015, Black Knight Financial Services, Inc. (NYSE: BKFS) introduced LoanSphere, a sophisticated platform of integrated technology, data and analytics that supports the mortgage and home equity loan lifecycle -- from origination to servicing to default.
Traditionally, lenders and servicers have used disparate, siloed origination and servicing systems to manage functions from application to disposition over the life of a first mortgage loan. Using additional origination and servicing systems for different types of loans -- such as home equity loans -- only adds to inefficiency, increased risk and lack of clear, comprehensive insight across loan portfolios.
Black Knight's LoanSphere platform will significantly change this traditional business model by fully integrating all origination and servicing functions for mortgage, home equity loans and lines of credit through business process automation, workflow, configurable rules and integrated data. This innovative solution will provide:
- Greater end-to-end connectivity that enables loan data exchange from function to function across the entire loan lifecycle without the need to rekey information in separate systems for greater efficiency and reduced errors
- The ability to link loan and borrower data from Black Knight's LoanSphere applications with public records and third-party data using the LoanSphere Data Hub for faster, more accurate analysis; better decision-making; improved efficiency; and increased transparency into previously unavailable insights
- A common look and feel across all LoanSphere applications to make training easier for clients' employees and improve their ability to support multiple functional areas with limited additional system training
- Direct access to linked data and a full suite of data and analytics products from within the LoanSphere platform -- including origination, servicing and default applications -- enhances decisioning capabilities and improves quality of processes
Black Knight currently has eight LoanSphere Enterprise clients, meaning they use at least three of the company's technology integrated applications and data offerings across the loan lifecycle.
"No other company can deliver LoanSphere's proven, innovative solutions and insightful data across every aspect of the loan lifecycle," announced Black Knight CEO Tom Sanzone. "Integrating our comprehensive capabilities under LoanSphere offers our clients tremendous possibilities for enhancing efficiency, reducing risk and improving financial performance through cost savings and business growth."
About LoanSphere
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 the mortgage and finance industries' 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 the 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.
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SOURCE Black Knight Financial Services, Inc.
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