CitiMortgage Announces Dual Agreements for New Digital Originations Platform
January 08 2018 - 10:00AM
Business Wire
New Digital Solutions -- LoanFx™ and
LoanSphere Empower -- To Deliver Seamless Client
Experience
Today, Citi announced it has entered into dual agreements to
integrate its full suite of U.S. mortgage products into a single
digital platform for its clients. A new front-end digital
experience, LoanFx, from Digital Risk LLC, a leading provider of
digital technology platforms and services, will be complemented by
a new loan origination system, LoanSphere Empower, from Black
Knight.
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CD Davies, Head of CitiMortgage (Photo:
Business Wire)
“With these best-in-class systems in place, we will
revolutionize the experience we provide our clients, through every
channel and product,” said CD Davies, Head of CitiMortgage. These
agreements are another critical step toward making mortgage a key
differentiator for our franchise and delivering the full power of
Citi’s network to clients.”
The best-in-class digital capabilities will enable mortgage
clients to go through the full loan cycle, from research to
application, processing, scheduling appraisals, handling title, to
closing, through the channel of their choice – and at their own
pace.
Digital Risk’s LoanFx solution is designed to streamline the
client journey through the front end of the mortgage originations
process. With the ability to aggregate data automatically,
including automated income and asset information, Citi will be able
to deliver digital disclosures, accelerate credit decisions and
reduce cycle times, ultimately increasing client satisfaction.
Black Knight’s Empower offers exceptional functionality,
including integration with service providers for pricing, fees,
compliance, appraisal, fraud and settlement services with seamless
workflow and fully automated processes in many instances. Its
comprehensive implementation and support model includes an existing
integration with Cenlar, the company undertaking the servicing of
Citi’s owned mortgage loan portfolio, which will create a seamless
process for clients after closing.
Citi will initiate implementation of these new solutions
immediately, with full production expected in early 2019.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at http://www.citigroup.com|
Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: http://www.facebook.com/citi|
LinkedIn: www.linkedin.com/company/citi.
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version on businesswire.com: http://www.businesswire.com/news/home/20180108005256/en/
CitiMark Rodgers,
212-559-1719rodgersm@citi.com
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