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Black Knight integrates with loanDepot’s next generation of lending services

By Edlyn Cardoza

January 23, 2023

  • APIs
  • Black Knight
  • Empower Loan Origination System
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Black Knight, loanDepot, Empower Loan Origination System, mello, APIs, Loan Origination, USABlack Knight, Inc. announced it will be integrated with loanDepot’s next generation of lending services as the company migrates some of its backend operations to Black Knight’s scalable and secure cloud-based Empower loan origination system (LOS). The Empower migration will complement and integrate with loanDepot’s proprietary technology ecosystem, mello, which was unveiled by the company in 2017 and continues to be an essential part of the company’s value proposition for originators.

Utilising the enhanced, cloud-based version of Empower, loanDepot will now be able to further leverage the skills and capabilities of Black Knight throughout its backend operations, increasing customer and originator satisfaction, operational efficiency, and loan quality, all while driving down its overall cost to produce.

“Enhancing efficiency, effectiveness and quality are all critical components of loanDepot’s Vision 2025 strategic plan,” said loanDepot’s President and CEO Frank Martell. “The gains we expect to realize by switching to the cloud-based version of Empower will serve our customers well as we continue to deliver a best-in-class customer experience. It will also fundamentally change the way we run our originations operations, improving speed to closing and quality while also realizing substantial savings.”

By utilising the Empower LOS, lenders like loanDepot can realise improved loan processing cycle times and increased system reliability, as well as easily implement product upgrades and new version releases while continuing to benefit from the proven support and scalability of Black Knight’s hosting capabilities.

As a cloud-based, scalable solution, Empower relieves clients like loanDepot of the burden of maintaining their own independent backend loan origination systems. Importantly, this means loanDepot can implement system upgrades or adjust parameters to meet specific compliance needs more quickly and less expensively than in previous generations of technology builds or rollouts. Empower’s overall flexibility will also allow loanDepot to custom-configure the platform to its unique processes and workflows, ultimately allowing Empower to function as an in-house backend system that complements loanDepot’s proprietary mello ecosystem. Powered by APIs, the Empower/mello integration will support a seamless digital experience for customers and provide greater ease and speed for the loanDepot professionals who serve them.

“loanDepot has long had a reputation for forward-thinking excellence in the technology space, and we’re proud to partner with a known technology disruptor to help fuel their next generation of lending services and advance their strategic plan,” said Rich Gagliano, President of Black Knight Origination Technologies. “We look forward to our long-term collaboration with the loanDepot team as we help them continue to innovate and lead the way in the nonbank mortgage sector for years to come.”

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