A Collaboration that Ushers Your Mortgage into a New Era

Human beings are known for a myriad of different things, but most importantly, they are known for getting better on a consistent basis. This progressive approach, on our part, has already got us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown to become a lot more evident in recent times, and assuming a new banking-related development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Extraco Banks, the largest and most comprehensive locally owned bank between Dallas and Austin, Texas, has officially selected Bright Knight’s Empower loan origination system (LOS) to bolster growth across its digital lending operations. According to certain reports, the integration makes it possible for Extraco Bank to achieve a brand of LOS which can support the organization’s workflows without mandating the need to maintain its own origination technology systems, pay recurring hosting costs or even deal with deploying costly custom integrations. Furthermore, from here onwards, Extraco will be able to leverage Black Knight’s Surefire CRM and mortgage marketing engine. This is particularly significant because the stated engine brings all those capabilities that many mortgage professionals have already used to win new business, drive repeat business, and earn the right to referral business. Another detail worth noting here is how Surefire CRM delivers at the borrower’s disposal a stream of mortgage content, content which is tailored as per their individual loan milestones. By doing so, the technology, like you can guess, helps mortgage professionals in improving their relationship with borrowers. However, given the CRM’s expansive nature, it also ensures a rather productive collaboration between the said professionals, referrals, brokers, and real estate agents.

“Empower and its integrated solutions were exactly what we were looking for to move our mortgage operations into the digital sphere. By automating time-consuming, tedious tasks with Black Knight’s capabilities, our loan officers can focus more time on their customers and the digital tools allow them to stay more fully connected with our borrowers at every step of the loan process,” said Jake Coleman, senior vice president and director of mortgage at Extraco Banks.

Hold on, there is more. Having the Empower LOS platform on its side will further allow Extraco an uninterrupted access of Optimal Blue’s product and pricing engine. Understood to be a Black Knight division, Optimal Blue has developed a digital point-of-sale solution purposed around guiding borrowers through the entire mortgage application process. Among other features you can expect here, the solution provides machine learning technology document classification and indexing, a robust digital closing solution that automatically determines the best way to close a loan, eDelivery and eSign capabilities, and a comprehensive fee service to help mitigate fee cures. Guess what, we are still not done, as the system also conjures up for you robust property tax data, automated compliance validation testing, flood zone determination services, and the all-important framework to source information from multiple avenues and facilitate accurate forecasts of productivity, cycle time, and pull-through.

“Extraco Banks is already one of Central Texas’s most renowned names in banking, and Black Knight is proud to help them spearhead this strategic shift into the digital lending sphere,” said Rich Gagliano, president of Black Knight Origination Technologies. “By moving their legacy manual processes into the advanced and automated Empower ecosystem, Extraco will be able to streamline its business, help drive growth and provide even greater benefits for its customers and employees.”