Black Knight Acquires Cloud-Based Mortgage Broker LOS From NexSpring Financial to Expand Offerings

Rhea-AI Summary

On March 17, 2021, Black Knight (NYSE:BKI) announced the acquisition of a cloud-based loan origination system from NexSpring Financial. This strategic move aims to enhance Black Knight's capabilities in serving mortgage brokers by integrating the new platform into their existing Empower LOS. The platform promises a more efficient loan origination process with features like a mobile-friendly application and a simple onboarding process. Black Knight's CEO emphasizes the potential benefits for mortgage brokers, who represent a growing origination channel.

Positive

• Acquisition enhances Black Knight's services for mortgage brokers.
• New platform integrates with existing Empower LOS for streamlined operations.
• Mobile-friendly application improves user accessibility.
• The platform is configurable for rapid deployment of rules.

Negative

• None.

JACKSONVILLE, Fla., March 17, 2021 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that it has acquired a cloud-based loan origination system (LOS) from NexSpring Financial, LLC to broaden Black Knight's ability to serve mortgage brokers. The new digital lending platform will be a key part of the company's powerful, integrated, end-to-end ecosystem.

This comprehensive platform will be seamlessly integrated into the powerful Black Knight Empower LOS, so brokers using the new digital lending platform and wholesalers using Empower will benefit from a more streamlined and connected experience. The power and value of the new platform will be further enhanced by integrations with Black Knight's comprehensive suite of origination performance solutions, including a single point to order services and obtain fees, compliance validation testing, actionable data and analytics, and Black Knight's significantly enhanced, broker-focused Optimal Blue Loansifter  product, pricing and eligibility engine (PPE).

"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," said Anthony Jabbour, CEO, Black Knight. "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 – which also features a mobile-friendly application – is designed for entrepreneurial originators looking for a better and more efficient way to originate loans. A seamless on-boarding process provides credentials in just minutes, so users can quickly start increasing their productivity with the platform's dynamic toolset. This easy-to-use digital lending platform supports collaboration between all stakeholders in the origination process – borrowers, processors, brokers and real estate agents – by enabling them to collaborate securely on the same loan platform. Configured as a multi-tenant model, mortgage brokers using the platform will benefit from the simple cost-effective setup.

"Black Knight's culture of investment and innovation makes it the perfect home for what NexSpring initiated," said Mike Fabian, CEO, NexSpring. "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."

The platform is highly configurable and allows for rapid deployment of new business rules into production in a highly transparent and controlled way. 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.

About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.

For more information:
Michelle Kersch	Steve Eagerton
Black Knight, Inc.	Black Knight, Inc.
904.854.5043	904.854.3683
michelle.kersch@bkfs.com	steven.eagerton@bkfs.com

 

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SOURCE Black Knight, Inc.

FAQ

What is the purpose of Black Knight's acquisition of the LOS from NexSpring Financial?

The acquisition aims to broaden Black Knight's ability to serve mortgage brokers by integrating a cloud-based loan origination system into their services.

How will the new lending platform benefit mortgage brokers?

The new platform offers a streamlined experience, enhanced capabilities akin to those used by larger lenders, and a mobile-friendly interface.

When was the acquisition of the LOS by Black Knight announced?

The acquisition was announced on March 17, 2021.

What is the expected impact of the acquisition on Black Knight's operations?

The acquisition is expected to strengthen integration with Black Knight's existing solutions and enhance the overall service experience for mortgage brokers.