Black Knight, Inc. has acquired a cloud-based loan origination system (LOS) from NexSpring Financial, LLC, the company announced. The purchase will expand Black Knight’s ability to serve mortgage brokers and will be a key part of the company’s end-to-end ecosystem.
“Black Knight is on a mission to share the advantages of our high-performance software, data and analytics with mortgage brokers, who represent the fastest-growing origination channel in the industry,” Black Knight CEO Anthony Jabbour said in a release. “This broker-specific digital lending platform enables these entrepreneurs to benefit from many of the same powerful capabilities used by large lenders on a platform that meets their own unique needs and can easily scale as their business expands.”
The platform will be integrated into Black Knight’s Empower LOS, so those using Empower and the new digital lending platform will have a “more streamlined and connected experience.” The new platform will also be integrated with a single point to order services and obtain fees, compliance validation testing, actionable data and analytics, and Black Knights’ Optimal Blue Loansifter product, pricing, and eligibility engine.
“The platform is highly configurable and allows for rapid deployment of new business rules into production in a highly transparent and controlled way,” Black Knight said. “Users can also leverage proprietary content management system-enabled marketing tools, which can be accessed via a drag-and-drop lead form generator with embedded analytics.”
Black Knight said the platform also features a mobile-friendly application and is designed for originators looking for an efficient way to originate loans. Additionally, the platform supports collaboration between borrowers, processors, brokers, and real estate agents.
“Black Knight’s culture of investment and innovation makes it the perfect home for what NexSpring initiated,” NexSpring CEO Mike Fabian said. “Through further development and integration with the wider Black Knight mortgage ecosystem, we are confident that the new digital lending platform will be quickly recognized as the industry’s premier solution for mortgage brokers.”