TheMReport — News and strategies for the evolving mortgage marketplace.
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4 | TH E M R EP O RT MTECH All Eyes On Expansion As companies get into the swing of 2018, new partnerships and offerings are on the horizon. CitiMortgage Announces New Digital Origination Platforms A NEW FRONT-END DIGITAL EXPERIENCE, LOANFX, WILL BE COMPLEMENTED BY A NEW LOAN ORIGINATION SYSTEM, LOANSPHERE EMPOWER. C itiMortgage, a New York- based global bank, has announced in a release it has entered into dual agree- ments to integrate its full suite of U.S. mortgage products into a single digital platform for its clients. According to the release, new front-end digital experience LoanFx from Digital Risk LLC, a provider of digital technology platforms and services, will be complemented by a new loan origination system, LoanSphere Empower from Black Knight. CitiMortgage will initiate imple- mentation of these new solutions immediately, with full production expected in early 2019. "With these best-in-class systems in place, we will revolutionize the experience we provide our clients through every channel and product," said C.D. Davies, Head of Citi's Global Mortgage. These agreements are another critical step toward making mortgage a key differentiator for our franchise and delivering the full power of Citi's network to clients." The best-in-class digital capabili - ties will enable mortgage clients to go through the full loan cycle, from research to application, processing, scheduling appraisals, handling title, to closing, through the channel of their choice. With the ultimate goal of increasing client satisfaction, Digital Risk's LoanFx solution is designed to streamline the client journey through the front end of the mort - gage originations process. With the ability to aggregate data automati- cally, including automated income and asset information, Citi will be able to deliver digital disclosures, accelerate credit decisions, and reduce cycle times. Black Knight's Empower offers exceptional functionality, including integration with service provid- ers for pricing, fees, compliance, appraisal, fraud, and settlement services with seamless workflow and fully automated processes in many instances. Its comprehen- sive implementation and support model includes an existing integra- tion with Cenlar, the company undertaking the servicing of Citi's mortgage loan portfolio, which will create a seamless process for clients after closing. Situs Acquires MountainView Financial Solutions THIS DEAL POSITIONS SITUS AS A TRUSTED ADVISOR OF CHOICE WITHIN THE CONTINUALLY EVOLVING HOUSING FINANCE MARKET. S itus, a provider of strategic business and technology solutions to the real estate industry, announced that it has With the ultimate goal of increasing client satisfaction, Digital Risk's LoanFx solution is designed to streamline the client journey through the front end of the mortgage originations process.