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USA Real Estate Blog

Empower Incorporates HMDA Rule, New Tech Integrations

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Black Knight Financial Services announced last week the release of LoanSphere Empower 7.0, a new version of its loan origination system (LOS), including updates aimed at compliance with the Consumer Financial Protection Bureau’s (CFPB) Home Mortgage Disclosure Act (HMDA) and enhanced technological integrations.

“Empower 7.0 offers dynamic, innovative capabilities to help clients deliver an exceptional customer experience, increase productivity and address regulatory requirements,” said Jerry Halbrook, President of Black Knight’s Origination Technologies Division.

Empower, which serves retail, wholesale, and consumer-direct lenders, now has data requirements such as borrower demographics, loan costs, property information, automated underwriting system information, a Legal Entity Identifier, and Universal Loan Identifier—all to comply with the final HMDA rule.

Additionally, the newly released version of Empower allows lenders to access and use the LOS from multiple devices, including mobile devices.

Empower 7.0 features a new user interface aimed at “more intuitive navigation and a simplified screen presentation,” according Black Knight.

The company also integrated other tech offerings into Empower to streamline the origination process. Lenders can now access Black Knight’s Tax for Loan Estimation and Tax for Closing Estimation; PitchPoint for fraud-risk detection; LoanSphere Loan Boarding file optimization for servicing; and LoanSphere Expedite’s eSign and eDelivery functions.

Empower is fully integrated with LoanSphere MSP, Black Knight’s loan servicing system.

Also, Black Knight offers Empower Now!, which aims to streamline implementation for regional, mid-market, and independent mortgage lenders.



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