Black Knight Origination Technologies has launched Seller Digital, a new correspondent lending platform designed to assist lenders in tracking commitment pipelines, managing conditions, and validating pricing “to register and lock best efforts loans and allocate mandatory loans to commitments.”
“Seller Digital is an evolution of traditional correspondent lending platforms, created to deliver a seamless process from pricing to delivery,” Black Knight President Rich Gagliano said in a release. “By building this innovative solution with feedback from correspondent sellers, we were able to amplify the buy/sell experience with the features most important to them without any cluttered add-ons, which are often unnecessarily included in other systems.”
Black Knight said the platform offers an intuitive and streamlined experience for lenders selling loans to correspondent aggregators and allows for two-way communication between the seller and purchaser to help manage correspondent transactions.
Seller Digital offers lenders the ability to manage loan conditions systematically for each purchase transaction and allows them to filter conditions based on categories, Black Knight said. Lenders also can create on-demand notifications for exceptions that may need attention and subscribe to notifications that alert them of any new conditions. They can then easily upload documents to satisfy those conditions.
The company also said Seller Digital is fully integrated into its other products, including Empower (its loan origination system) and its product, pricing, and eligibility engine. In addition, Seller Digital uses the company’s artificial intelligence solution to automate data and document collection processes.
“To be competitive in today’s correspondent market, lenders must be able to offer their sellers a simple, self-service platform,” Gagliano said. “Seller Digital exceeds these requirements with its unique personalization, automation and integration features, while giving lenders the power to customize configurations based on their own specific business requirements.”