Mississippi-based Keesler Federal Credit Union has signed an agreement to deploy a suite of Black Knight technology solutions, including the Empower loan origination system (LOS) and the MSP servicing system, to manage both its first mortgage and home equity portfolios.
Empower originates both first mortgages and home equity loans on one platform and supports retail, wholesale, consumer direct and correspondent lending channels. To help Keesler Federal Credit Union get on the system more quickly, they will take advantage of the Empower Now! implementation model – which enables faster deployment with lower costs.
Keesler Federal Credit Union will use Black Knight’s suite of productivity solutions that are seamlessly integrated with Empower. These solutions include AIVA, the company’s artificial intelligence solution, to help with document classification and data extraction capabilities; a comprehensive fee monitoring service, complemented by state and federal loan-level compliance testing, third-party ordering and aggregation software; and Black Knight’s eClosing solution.
Black Knight’s suite of origination digital solutions will also enable Keesler Federal Credit Union to provide its members with easy-to-use tools. The company’s AI-augmented point-of-sale solution enhances the customer experience throughout the loan prequalification and application process, while Black Knight’s new loan officer capability will enable Keesler Federal Credit Union to easily track, monitor and provide assistance to the customer’s experience, step-by-step through the loan application process leveraging an intuitive user interface.
Keesler Federal Credit Union will also leverage the Black Knight MSP servicing system, which helps servicers manage all servicing processes – from loan boarding and payment processing to escrow administration, default management and more – to support greater operational efficiency, improved risk management and superior service.
The MSP system will be complemented by Black Knight’s Servicing Digital, a mobile solution that will help Keesler Federal Credit Union deliver detailed, timely and highly personalized loan information to its members about the value of their homes and how much wealth can be built from these real estate assets. Servicing Digital will also help Keesler Federal Credit Union to deepen relationships and increase retention by presenting members with customized, home-related opportunities, such as refinancing, tapping home equity or the purchase of another home.
To gain maximum visibility into its origination and servicing operations, Keesler Federal Credit Union will also implement Black Knight’s Actionable Intelligence Platform (AIP). This data delivery framework combines Black Knight’s data assets, big data ecosystem and enterprise business intelligence capabilities into a single solution. Using an array of pre-configured suites, Black Knight’s AIP helps both lending and servicing clients gain and retain customers, reduce risk and decrease operational costs.