Black Knight: A seamless mortgage loan life cycle
Black Knight is a leading provider of technology, data and analytics to the mortgage and real estate industry. Black Knight is providing Vystar Credit Union with integrated digital capabilities that will enhance their operations and improve the member experience.
“We’re pleased that Vystar Credit Union will be leveraging our technology systems and integrated digital solutions to help optimize its operations and enhance their member’s experience enabling them to compete more effectively – from pre-qualification through servicing,” said Shelley Leonard, Chief Product and Digital Officer for Black Knight.
Black Knight’s suite of solutions includes the Empower loan origination system (LOS), and the MSP servicing system. Both systems support first mortgages and home equity products on a single platform.
“Black Knight supports the entire mortgage ecosystem - from the moment a borrower finds a home and for all of the years that they live there. Additionally, our technology is helping VyStar Credit Union’s back-office team be more efficient by automating processes so they can originate more loans,” said Leonard.
By using Black Knight’s end-to-end capabilities from originations through servicing, VyStar Credit Union, as well as its members, will benefit from a seamless, automated mortgage loan experience.
Additionally, Black Knight's Loss Mitigation solution delivers the decisioning capabilities of Vystar Credit Union to provide greater visibility into which loan eligibility requirements work best for their members.
Better Experience for Members
Black Knight’s integrated digital capabilities is also enhancing VyStar Credit Unions interactions between their loan officers and their members. “Our solutions enable both members and loan officers to complete the loan application steps remotely, which helps reduce loan processing time and costs,” said Leonard.
To complement servicing, VyStar Credit Union will offer Servicing Digital to its members, which is a consumer-facing solution that delivers personalized loan information on a mobile device. “Our goal is to create a seamless, end-to-end digital experience for Vystar Credit Union members,” said Leonard.
Focus on future innovation
Given Black Knight’s expansive scope in the mortgage industry, the company is continually looking for new ways to innovate and invest. “Our strategy is to create a seamless, end-to-end mortgage loan process for both team members at VyStar, as well as its members, to increase member satisfaction and retention, while also helping Vystar Credit Union operate more efficiently. We will continue to expand our capabilities to serve the credit union market.”
Leonard said the pandemic has driven the need for digital deeper into their ecosystem. “We’re innovating through the use of Artificial Intelligence (AI) and Machine Learning to create more self-service capabilities, such as tracking home maintenance schedules or access to the insurance marketplace.”