Black Knight’s LoanSphere Exchange Platform to Support Bank of the West’s Appraisal Ordering
March 15 2018 - 9:00AM
Black Knight, Inc. (NYSE:BKI) announced today that Bank of the
West, a financial services company headquartered in San Francisco,
will expand its use of LoanSphere Exchange. The bank currently uses
Exchange to place title insurance orders and will now facilitate
the ordering and tracking of appraisals through the system.
Exchange is Black Knight’s innovative open technology platform that
provides integration, data management, decisioning support and
workflow management through a 24/7 data exchange.
Exchange electronically connects lenders with more than 25,000
of the mortgage industry’s service and solution providers. Through
Exchange, lenders gain a fast, secure way to aggregate data and
centralize ordering of settlement services, such as title, closing,
appraisal, credit, flood, fraud, verifications, fees and more. The
online platform offers event-based workflow and document services,
including secure delivery, indexing and data extraction (OCR).
Exchange can be accessed through a web portal or direct integration
with a lender’s loan origination system.
“Through this technology, we seek to centralize third-party
providers and streamline the transaction processes with them,” said
Jon Hicks, executive vice president and head of Consumer Real
Estate Services, Bank of the West. “By using Black Knight’s
Exchange technology, we expect to increase automation, improve
order tracking and mitigate vendor management risk.”
“We are pleased to expand our support of Bank of the West to
help further streamline its mortgage origination process,” said Tom
Peterson, president of Black Knight’s Lending Solutions division.
“Exchange will standardize the user experience for all providers
involved and help the bank reduce risk with the platform’s proven
ability to support title and appraisal order management.”
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 KnightBlack Knight
(NYSE:BKI) is a leading provider of integrated software, data and
analytics solutions that facilitate and automate many of the
business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed
to being a premier business partner that clients rely on to
achieve their strategic goals, realize greater success and better
serve their customers by delivering best-in-class software,
services and insights with a relentless commitment to excellence,
innovation, integrity and leadership. For more information on Black
Knight, please visit www.blackknightinc.com.
For more information:
Media contacts: Michelle Kersch 904.854.5043
michelle.kersch@bkfs.com
Mitch Cohen 704.890.8158 mitch.cohen@bkfs.com
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