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CitiMortgage Announces New Digital Origination Platforms


CitiMortgage, a New York-based global bank, has announced it has entered into dual agreements to integrate its full suite of U.S. mortgage products into a single digital platform for its clients.

According to the release, a new front-end digital experience, LoanFx, from Digital Risk LLC, a provider of digital technology platforms and services, will be complemented by a new loan origination system, LoanSphere Empower, from Black Knight.

CitiMortgage will initiate implementation of these new solutions immediately, with full production expected in early 2019.

“With these best-in-class systems in place, we will revolutionize the experience we provide our clients, through every channel and product,” said CD Davies, Head of CitiMortgage. These agreements are another critical step toward making mortgage a key differentiator for our franchise and delivering the full power of Citi’s network to clients.”

The best-in-class digital capabilities will enable mortgage clients to go through the full loan cycle, from research to application, processing, scheduling appraisals, handling title, to closing, through the channel of their choice.

With the ultimate goal of increasing client satisfaction, Digital Risk’s LoanFx solution is designed to streamline the client journey through the front end of the mortgage originations process. With the ability to aggregate data automatically, including automated income and asset information, Citi will be able to deliver digital disclosures, accelerate credit decisions, and reduce cycle times.

Black Knight’s Empower offers exceptional functionality, including integration with service providers for pricing, fees, compliance, appraisal, fraud, and settlement services with seamless workflow and fully automated processes in many instances. Its comprehensive implementation and support model includes an existing integration with Cenlar, the company undertaking the servicing of Citi’s owned mortgage loan portfolio, which will create a seamless process for clients after closing.

About Author: Nicole Casperson

Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech's College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected].

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