Blend, Black Knight and Embrace launch new tech tools


As mortgage refinancing origination volumes keep on sliding, Black Knight, Blend, and Embrace Home Loans (using a SimpleNexus product) each bring new business development tools to the market.

The Mortgage Bankers Association’s March forecast projects overall volume to decline in each of the four quarters of this year, from $ 1.1 trillion in the first quarter to $ 578 billion in the fourth.

Projected refi issues over the same period are expected to drop from $ 774 billion in the first quarter to just $ 145 billion in the fourth quarter.

So now might be a bit unusual for Black Knight to update their Capture lead analysis product to integrate with the Optimal Blue product and pricing engine. he acquired last year.

But this is precisely the idea behind rolling out this offering, given that originators will need solid analytics to identify and prioritize specific prospects, said Rob Kessel, general manager of coverage and coverage services. loan negotiation at Black Knight.

“Additionally, tracking home equity for cashout / cashout opportunities, and not just rate / duration opportunities, becomes all the more important for boosting production volume,” he said. -he adds. “Last year most of the exceptional services were refinancable and maintenance services couldn’t absorb the offer they had, let alone the scans to suggest more.

In fact, Black Knight quantified that 2.3 million potential refinance borrowers were lost by lenders to their competitors in the fourth quarter of 2020 alone.

With the change, users can identify actionable leads, determine the right time to reach the customer, and calculate the price of personalized loans.

Separately, To mix together released the LO Toolkit, bringing together a set of functions in its point of sale system that it has relied on over the past year.

Accessible through the iOS and Android mobile apps as well as through a desktop and tablet web browser, the toolkit can best be described as a unified workflow for loan officers. This allows them to go through the entire end-to-end qualification process within that system, John Whipple, product manager at Blend said in an interview.

“Especially with the prequalification or borrower pre-approval tools, we see this as a very useful utility for loan officers working with borrowers who are buying a home,” said Whipple.

Meanwhile, in order to help its loan officers capture more buying business, Embrace Home Loans, a retail lender based in Middletown, RI, has rolled out the SimpleNexus point of sale technology to its more than 300 loan officers.

“We needed an LO-centric solution that was flexible enough to allow our team to continue serving clients and real estate agents the way they wanted,” said Meghan Handy, Director and Vice President of Customer Experience of Embrace, in a press release.

Embrace will be the first lender to use SimpleNexus in conjunction with a new mobile disclosure integration with First American Docutech, according to the announcement. The new technology also allows borrowers to pay for in-app assessments using a credit card.

“Embrace has been an incredible partner in pushing us to extend the functionality set of SimpleNexus,” said fintech founder and CEO Matt Hansen in the press release. “We look forward to seeing how loan officers and borrowers respond to the improved experience.”

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