Citibank has signed up as the platform's first marquee client
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Digital Risk has announced that it is integrating its LoanFx digital mortgage platform with the LoanSphere Empower LOS from Black Knight.
Digital Risk is an origination, risk, compliance, due diligence, and technology services company for the mortgage, consumer lending, financial services, and other regulated industries.
The company said the integration will allow loan officers, their clients, and their realtors to receive real-time updates throughout the application process. With the integration, Digital Risk said the entire process from application to approval and underwriting should be shortened to as little as 20 minutes. The combination of the LoanFx and Empower will also help support compliance with evolving regulatory requirements.
"A full-service digital mortgage experience platform that excites and empowers consumers and loan officers alike, while driving down costs and cycle times, is essential for today's mortgage industry," Digital Risk Chief Technology Officer Eric Rawlings said. "This integration meets that need. LoanFx's customer-focused, data-driven, and collaborative loan officer point-of-sale hub, combined with Black Knight's workflow and data analytics-driven loan origination solutions, will offer an unparalleled customer experience while driving tremendous efficiencies within the loan manufacturing process."
Citibank recently announced that it has signed up as the platform's first marquee client. An integrated, self-service system will be available for Citibank's mortgage clients via digital channels, including mobile platforms.
