From the Wires
Black Knight Financial Services' LoanSphere Empower and Exchange Technologies Are Powering Fannie Mae's Day 1 Certainty With Direct Integration to DU Validation Services
- Black Knight's LoanSphere Empower and Exchange technologies support Fannie Mae's Day 1 Certainty with full integration to Fannie Mae's Desktop Underwriter® (DU®) validation service, enabling lenders to access Fannie Mae's automated income verification s
By: PR Newswire
Oct. 24, 2016 04:05 PM
JACKSONVILLE, Fla., Oct. 24, 2016 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE:BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that its LoanSphere Empower loan origination system (LOS) and LoanSphere Exchange collaborative platform are powering Fannie Mae's Day 1 Certainty™ with direct integration to Fannie Mae's DU validation service. This integration will enable lenders to be released from Fannie Mae's required representations and warranties when utilizing the DU validation service via Desktop Underwriter, an automated underwriting system that assesses loan credit risk and determines if a loan meets Fannie Mae's eligibility requirements.
Lenders that access Black Knight's Exchange technology through the Empower LOS or through the web can immediately start using the DU validation service, which provides automated income validation. Instead of obtaining copies of borrower pay stubs or other income verification documents, lenders originating Fannie Mae loans can use the Exchange to access third-party service providers who are also connected with Fannie Mae's DU validation service to verify income. This helps lenders enhance process efficiencies, reduce buy-back risk and improve cycle times.
"Black Knight collaborated closely with Fannie Mae to test the functionality of the DU validation service on Empower and Exchange so our clients could immediately take advantage of the system and the benefits it offers," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "The direct integration with DU is part of our continued focus on helping lenders support GSE technology solutions and improve their operational efficiency."
Black Knight's Exchange is a collaborative platform that provides integration, data management, decisioning support and workflow management through a 24/7 data exchange. Empower is an enterprisewide LOS that supports the retail, wholesale and consumer direct lending channels, and delivers the functionality to electronically capture and process data for every facet of the loan origination process.
About Fannie Mae
About Black Knight Financial Services, Inc.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/black-knight-financial-services-loansphere-empower-and-exchange-technologies-are-powering-fannie-maes-day-1-certainty-with-direct-integration-to-du-validation-services-300349510.html
SOURCE Black Knight Financial Services, Inc.
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