Non-Bank Lender Deploying New Mortgage Technologies


Carrington Mortgage Services, a privately held non-bank lender, has signed an agreement to implement a suite of origination solutions from Black Knight Inc.

The implementation includes the Empower loan origination system (LOS), as well as other Black Knight applications designed to help improve operational efficiency, reduce risk and enhance the customer experience. Carrington will roll out the technology to support its complement of conventional Fannie Mae, Freddie Mac, FHA, VA and USDA products through wholesale, retail and correspondent lending channels.

Empower automates the processing of certain tasks based on the lender’s configuration without the need for constant human intervention – often referred to as “lights-out processing.” The LOS actively monitors for key data changes – or a lack of necessary changes – and triggers automated or manual tasks to be completed based on configurable logic, when appropriate. Integrated with Empower, Black Knight’s standards-based eSign and eDocument delivery platform supports lenders with securely connecting, ordering and managing loan-related products and services electronically with their approved service providers.

Carrington will also use Black Knight’s Fee Monitoring Service, which minimizes costly fee cures by helping to provide accurate recording fees, transfer taxes, and property tax, title, settlement and inspection data, as well as 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.

“Black Knight’s origination solutions suite features the advanced functionality necessary to support straight-through loan processing, which will help us be more productive and, most importantly, better serve our customers,” says Brent Rasmussen, executive vice president and chief information officer for Carrington Mortgage Holdings.

Photo: Brent Rasmussen

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