This integration will provide lenders with full visibility and control of their construction loan pipeline, from origination to post-close management, Land Gorilla said in a statement.
Through this integration, lenders will have the ability to transfer loan data from the Empower system to Land Gorilla’s Construction Loan Manager (CLM), saving time for loan onboarding, increasing process efficiency and consistency, and reducing errors. Key benefits of the integration to Land Gorilla’s end users include:
- Process automation for initiating data delivery
- Reduced loan touch time and associated costs
- Greater efficiencies for loan admin team
- Reduced risk and legal exposure
- Better consumer and builder experience
“We are very excited to bring our premier technologies together in this integration to provide a more efficient experience for lenders,” said Sean Faries, CEO, Land Gorilla. “The integration between Black Knight and Land Gorilla will equip users with the transparency, risk abatement, and cost efficiencies required to be successful and meet the growing demand for construction and renovation loans.”
LoanSphere Empower is Black Knight’s enterprise LOS used by lenders of all sizes to originate both first mortgages and home equity loans and lines of credit on one unified system. With its process automation capabilities, lenders can enhance data integrity, improve cycle times and lower their origination cost per loan.
“The integration of the Empower system and Land Gorilla’s CLM software will benefit our mutual lender clients by helping them better manage the draw management processes for the construction period more efficiently,” said Rich Gagliano, President of Black Knight’s Origination Technologies division.
Land Gorilla’s CLM software manages and streamlines all aspects of the construction loan management process—from pre-closing due diligence to post-closing draw administration.