Black Knight Inc. says its Optimal Blue product, pricing and eligibility engine has been enhanced to fully support the pricing of home equity lines of credit (HELOCs) for the secondary mortgage market.
The company notes that the new functionality includes premier search capabilities for first- and second-lien HELOC products that eliminate manual workarounds and automate associated workflows within the pricing engine.
“We are proud to support our clients’ home equity operations and help them meet industry demands,” says Scott Happ, president, Black Knight Secondary Marketing Technologies. “As the originations market sees record volume, tightening profits and an increasingly competitive landscape, advanced automation and innovation continue to be impactful differentiators during this critical time.”
The addition of automated HELOC capabilities allows mortgage lenders that leverage the Optimal Blue PPE to instantly provide their customers with the best home equity options available and confidently execute the most profitable lending strategies. Further, the new HELOC support functionality can also integrate directly with a lender’s loan origination system, meaning lenders can enjoy a more simplified and efficient pricing process.
Black Knight’s Optimal Blue PPE uses a set of product filters to identify applicable loan programs and evaluate best-execution pricing among all eligible products. Mortgage lenders that leverage the Optimal Blue PPE gain access to data on demand and are able to automatically capture and review investor content, the company says.
Photo: Scott Happ