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Issue link: http://digital.themreport.com/i/1491913
4 | M R EP O RT MTECH Empowering the Mortgage Process BLACK KNIGHT TO HELP FUEL LOANDEPOT'S LENDING SERVICES B lack Knight Inc. has an- nounced an integration with loanDepot's next generation of lending services as the company migrates some of its backend operations to Black Knight's scalable and secure cloud-based Empower loan origination system (LOS). The Empower migration will complement and integrate with loanDepot's proprietary technol- ogy ecosystem, mello, which was unveiled by the company in 2017, and continues to be an important part of the company's value proposition for origina- tors. Utilizing the enhanced, cloud-based version of Empower, loanDepot will now be able to further leverage the skills and capabilities of Black Knight throughout its backend operations, increasing customer and originator satisfaction, operational efficiency, and loan quality, all while driving down its overall cost to produce. "Enhancing efficiency, effective- ness, and quality are all critical components of loanDepot's Vision 2025 strategic plan," loanDepot President and CEO Frank Martell said. "The gains we expect to realize by switching to the cloud- based version of Empower will serve our customers well as we continue to deliver a best-in-class customer experience. It will also fundamentally change the way we run our originations opera- tions, improving speed to closing and quality while also realizing substantial savings." As a cloud-based, scalable solu- tion, Empower relieves clients like loanDepot of the burden of main- taining their own independent backend loan origination systems. Importantly, this means loanDepot can implement system upgrades or adjust parameters to meet specific compliance needs more quickly and less expensively than in previous generations of technol- ogy builds or rollouts. Empower's overall flexibility will also allow loanDepot to custom-configure the platform to its unique processes and workflows, ultimately allow- ing Empower to function as an in-house backend system that com- plements loanDepot's proprietary mello ecosystem. Powered by APIs, the Empower/mello integra- tion will support a seamless digital experience for customers, as well as provide greater ease and speed for the loanDepot professionals who serve them. "loanDepot has long had a reputation for forward-thinking excellence in the technology space, and we're proud to partner with a known technology disruptor to help fuel their next generation of lending services and advance their strategic plan," said Rich Gagliano, President of Black Knight Origination Technologies. "We look forward to our long-term collaboration with the loanDepot team as we help them continue to innovate and lead the way in the nonbank mortgage sector for years to come." Blazing New Digital Paths The following companies are advancing the digital mortgage process, helping chart the course for advancements in the pursuit of an all-digital process.