MReport October 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 49 of 67

48 | TH E M R EP O RT SPECIAL ADVERTISING SECTION: 2018 ORIGINATION GUIDE KEY PERSONNEL Anthony Jabbour CEO, Black Knight Joe Nackashi President, Black Knight Rich Gagliano President, Black Knight Origination Technologies Division Soofi Safavi Managing Director, Black Knight Applied AI Group CONTACT INFORMATION 601 Riverside Ave. Jacksonville, FL 32204 Phone: 844.474.2537 Email: Web: COMPANY DESCRIPTION Black Knight, Inc. (NYSE:BKI) is a premier provider of innovative, high-performance technology, data, and analytics for first mortgages and home equity products. KEY FEATURES/BENEFITS The AIVA platform is Black Knight's virtual assistant for mortgage and home equity lenders. AIVA combines artificial intelligence (AI) and machine learning (ML) to perform certain mortgage functions more quickly and accurately than traditional methods. AIVA helps lenders verify income, assets, and insurance coverage in minutes, compared to the hours-long, error-prone manual verification process. BUSINESS LINES, SERVICES, AND PRODUCTS As a trusted business partner, Black Knight is continuously looking for ways to help its clients overcome their most critical business challenges. With the recent acquisition of HeavyWater, Black Knight now offers AI/ML capabilities specific to the mortgage industry. As a state-of-the-art AI/ML virtual assistant, AIVA can help lenders accelerate their processes, reduce expenses, and allow staff to be reassigned from repetitive tasks to focus on projects that are more strategic to a company's success. Available as a standalone assistant or integrated with a loan origination or servicing system, AIVA has the power to deliver greater automation and efficiency to the origination process. AIVA will be available with Black Knight's enterprise loan origination system (LOS)—Empower ® . Empower supports retail, wholesale, consumer-direct, and home equity lending channels by delivering comprehensive functionality to electronically capture and process data for every facet of the loan origination process. AIVA can read, comprehend, and draw conclusions based on business content and context to take on "stare-and-compare" responsibilities from today's mortgage professionals. With AIVA, lenders will experience cutting-edge processing with human reinforcement to accelerate processes, reduce expenses, and relieve their staff from repetitive daily tasks. As AIVA gains more knowledge and as manual routines are integrated for automation, lenders will be able to shift their focus toward next-level projects and challenges. AIVA's skills include: Verify Income • Receive orders from lender LOS systems • Order tax transcripts from the IRS via credit reporting agency • Make tax transcripts available to Fannie Mae as part of Day 1 Certainty Verify Assets • Order bank statements using API or third-party apps • Intake statements via email or API • Send custom emails to borrowers asking for account credentials • Pull and organize accounts, display summaries, or make available via API • Look through statement details and identify large deposits • Calculate liquid assets and maintain traceability into account statements Track Insurance • Intake hazard and flood insurance documents • Extract and identify key data • Use key data elements to find the corresponding mortgage • Identify insurance coverage gaps with complete traceability to insurance documentation ADDED VALUE TO CLIENTS After integrating AIVA into its origination technologies, Black Knight will soon extend the AI/ML capabilities to its servicing and data and analytics solutions. The combination of Black Knight's extensive fintech experience with AIVA's advanced capabilities will offer lenders and servicers powerful innovation that will significantly advance their operations. Black Knight, Inc.

Articles in this issue

Links on this page

Archives of this issue

view archives of TheMReport - MReport October 2018