Texas-based Velocity Credit Union has selected Black Knight Inc.’s Black Knight Empower LOS and integrated origination solutions to support its members and employees with advanced automation and digital capabilities.
“At Velocity, we’re dedicated to meeting the needs of our members for years to come, and our selection of Black Knight’s integrated technology, data and analytics is central to this mission,” says Lindsey Record, vice president of mortgage lending at Velocity Credit Union. “With Velocity entering the first mortgage market, it was important to select a proven LOS that allows us the flexibility to help us achieve our strategic goals, and best serve our growing membership, with robust automation.”
The Empower platform will enable Velocity Credit Union to streamline the origination process from loan application through closing. Velocity Credit Union is also adding the Optimal Blue PPE, a product, pricing and eligibility engine, as well as Borrower Digital, a point-of-sale solution that supports members through the loan prequalification and application process. In addition, the credit union will implement solutions that deliver the following functionality: machine-learning technology for document classification and indexing; fee service for recording fees, transfer taxes, title, inspections and property taxes; a digital application for loan officers; automated compliance validation testing; a business rules engine; and an end-to-end digital close solution with eDelivery, eSign and eNotary capabilities.
“By choosing Empower and Black Knight’s integrated suite of origination solutions, Velocity Credit Union will be able to provide the highest level of service to its members,” states Rich Gagliano, president of Black Knight Origination Technologies. “The automation and efficiency gained will enable Velocity’s employees to complete tasks more easily and effectively to support the credit union’s long-term growth goals and focus on more convenience to its members.”