Lenders have come to appreciate the benefits that technology can bring, but those benefits are only useful if the implementation of new tools doesn’t complicate the lending process. Many mortgage lenders want to reduce the work involved in integrating third-party applications, as well as identifying other ways to better streamline their operations and improve the customer experience.
To meet these lender needs, Black Knight has developed Borrower Digital – a point-of-sale solution that offers a single, fully integrated, customer-centric mortgage application solution. Borrower Digital streamlines and simplifies the loan application process for the borrower by guiding them through the prequalification, pre-approval and refinancing processes.
Once a consumer has found a home and signed up with a lender, Borrower Digital guides the borrower through the loan application process, which is based on each lender’s setups and is accessed through a design. responsive mobile or dynamic web application.
Borrowers can continue to use Borrower Digital to track their application process, as well as to communicate with their loan officer, helping to reduce processing times and improve the overall mortgage experience.
Additionally, the solution relies on artificial intelligence (AI) to guide borrowers through the mortgage application process. Borrowers can upload ID and other supporting documents, and the digital borrower identifies that the correct documents are received, saving lenders valuable time. The information is routed from the borrower to the lending system and vice versa, with the solution providing rapid feedback. Borrower Digital also includes integrations with a leading product and pricing engine and Empower, Black Knight’s comprehensive loan origination (LOS) system.
Borrower Digital was designed around the personalities and scenarios of specific borrowers. Only the relevant information is required, which helps streamline processing and improve the experience. The solution validates both data and documents and alerts the borrower of immediate next steps, reducing cycle times and back and forth between borrower and loan officer.
“Black Knight leverages the power of innovative and integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loan officers,” said Rich Gagliano , President of Origin Technologies at Black Knight. “With a fast implementation process and pre-configured connectivity with LOS, Borrower Digital helps lenders gain a competitive advantage by delivering a superior mortgage experience to their clients. “
The product is complemented by Loan Officer Digital, Black Knight’s digital platform designed specifically for Loan Officers (LOs) to manage the details of each request. With an intuitive dashboard and mobile design, Loan Officer Digital allows LOs to easily guide the consumer through the mortgage application process and answer borrower questions. The combination of these powerful technologies provides an enhanced experience for borrowers throughout the mortgage application process.
“Borrower Digital’s strong self-service functionality, advanced automation capabilities, and seamless integrations deliver an unmatched customer experience from start to finish,” said Gagliano.
Anthony Jabbour, President and CEO
Anthony Jabbour leads the company’s overall vision and direction to deliver Black Knight’s premier solutions and services to many of the nation’s largest lenders and service providers.
Joe Nackashi, President, Black Knight
Joe Nackashi provides overall strategic direction to Black Knight’s operating groups to maintain a laser focus on customers and deliver the solutions that help them achieve greater success.
Rich Gagliano, President, Origination Technologies
Rich Gagliano is responsible for the overall strategy and product direction of Black Knight Origination Technologies.