bankingciooutlook

Black Knight Announces Its New Early Warning Suite

Banking CIO Outlook | Tuesday, May 04, 2021

Anthony Jabbour, CEO, Black Knight

The groundbreaking solution is accessible via Black Knight's Actionable Intelligence Platform (AIP), which is fully integrated with Empower, the company's creative loan origination framework (LOS).

FREMONT, CA: Black Knight has announced the launch of its new Early Warning Suite to help lenders identify and avoid closing on loans affected by natural disasters while improving performance management capabilities and improving communications with borrowers. The groundbreaking solution is accessible via Black Knight's Actionable Intelligence Platform (AIP), which is fully integrated with Empower, the company's creative loan origination framework (LOS).

"Our new Early Warning Suite helps lenders respond faster to the impact of natural disasters on loans in their pipelines by giving them actionable analytics that drive better, more informed decisions," stated Rich Gagliano, president, Black Knight Origination Technologies. "The unique insights we deliver help prevent lenders from closing on loans for affected properties without further review, while at the same time helping build better relationships with borrowers by proactively letting them know where their loans stand."

Natural disasters can be financially crippling, causing misery for both borrowers and lenders. By highlighting the possible effects of natural disasters, the AIP Early Warning Suite helps secure a lender's origination pipeline from disruptions and costs. Analytics are provided by pre-configured data visualizations in AIP, giving lenders the information they need to take decisive action at the right time to keep the transaction on track.

Lenders can delay the closing of a loan that has been in the crosshairs of catastrophe by identifying an accident or a pre-FEMA-declared disaster at the property address stage. The ability to geocode and identify disaster event boundaries as they move or extend from day to day, as well as the ability to position a property address within those boundaries, assists lenders in staying ahead of federal disaster data. Furthermore, loan officers may be proactive and enhance the borrower experience by communicating the next steps for the affected loan, such as a reappraisal or inspection, if applicable.

"Lenders using the Early Warning Suite will benefit from cost savings by avoiding closing loans impacted by natural disasters," Gagliano started. "And, when lenders' portfolios are linked with Empower, they will also further increase operational efficiency and be in a position to better serve their borrowers."

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