The bank aims to reduce costs across its mortgage operations
To support its mortgage servicing operations, Truist has announced expanding its use of Black Knight's mortgage technology suite.
The bank renewed its use of the Empower loan origination system (LOS), LendingSpace correspondent lending system, and the MSP mortgage servicing platform. Truist was formed last year through the merger of BB&T and SunTrust.
"As we integrate these two storied financial institutions into Truist, it is critical that our technology supports our growth objectives, allows us to become more efficient, reduces costs across our mortgage operations and assists with our compliance efforts," said Todd Chamberlain, head of Truist Mortgage. "Both heritage companies had long-standing, strategic relationships with Black Knight, so supporting our operations by leveraging its innovative capabilities and benefitting from the continuous investments the company makes in technology made perfect sense. Black Knight's fully integrated suite of solutions will prove invaluable in helping us provide our clients with the best-in-class experience and support our purpose of inspiring better lives and communities."
Additionally, Truist implemented several of Black Knight's data and analytics tools, including the AFT prepayment and credit model and its tax for closing disclosure (TCD).
"We are proud that Truist not only recognized Black Knight as the right partner for that future but also expanded its use of our integrated suite of end-to-end mortgage solutions to help drive efficiency, reduce costs and improve client relationships," Black Knight President Joe Nackashi. "We look forward to extending our long-term collaborative relationship and benefitting from Trust's forward-thinking approach and strategy."
