Loan Origination System to Support Home Equity
Regulatory changes have been a significant cause of increasing operating costs across the industry. The reason? Although both first mortgages and home equity loans are real estate-secured products, they are often originated on separate applications. Evolving regulations are requiring updates to both systems, often at a very high cost.
As more lenders discover this, they are looking for a technology to help address this challenge. Black Knight's LoanSphere Empower loan origination system (LOS) is an enterprisewide platform that provides a seamless integration of capabilities to support the retail, wholesale and consumer- direct channels. Empower eliminates errors and the need for duplicate entry associated with multiple systems. Further, Empower helps lenders improve data integrity and security to help overcome their evolving compliance challenges.
Today, ten of the top U.S. lenders are using Black Knight's origination technologies to help address the changing regulatory environment and originate first mortgages and home equity loans and lines.