Black Knight Adds New Functionality to the Optimal Blue PPE to Support Pricing Premiums Based on a Property's Census Tract Location
Black Knight, Inc. (NYSE: BKI) has enhanced its Optimal Blue PPE, the leading product pricing and eligibility engine in the mortgage industry.
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Rhea-AI Summary
Black Knight, Inc. (NYSE: BKI) has enhanced its Optimal Blue PPE, the leading product pricing and eligibility engine in the mortgage industry. This update introduces location-based pricing incentives, automating the collection of census tract data to offer applicable pricing premiums at the rate quote stage. This feature aligns with the Community Reinvestment Act, promoting affordable housing in underserved markets. Scott Happ, president of Optimal Blue, emphasized the efficiency gains for investors and lenders as part of their commitment to market innovation.
Positive
- Introduction of location-based pricing incentives enhances the Optimal Blue PPE.
- Automation of census tract data collection improves pricing accuracy for consumers.
- Supports affordable housing initiatives in alignment with the Community Reinvestment Act.
Negative
- None.
Details
News Market Reaction – BKI
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- The Optimal Blue PPE – the most widely used product, pricing and eligibility (PPE) engine in the mortgage industry – now delivers even greater value to investors and lenders through new functionality that supports location-based pricing incentives
- The new capability automates the process of collecting census tract data to provide applicable pricing premiums to consumers at the time of rate quote
- This location-based pricing incentive feature assists both investors and lenders in promoting affordable housing in underserved markets in alignment with the Community Reinvestment Act
JACKSONVILLE, Fla., Aug. 9, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced an enhancement to its Optimal Blue PPE – the industry's most widely used product, pricing and eligibility engine – to support location-based pricing incentives. The Optimal Blue PPE delivers broad-reaching functionality that helps lenders access hundreds of investors and thousands of products for any mortgage financing scenario. This new capability automates the process of collecting census tract data to deliver applicable pricing premiums at the time of rate quote.
This advancement builds on Black Knight's efforts to lead the industry in pricing innovation by delivering deeper capabilities and greater accuracy through the powerful Optimal Blue PPE engine. With seamless access to pricing that accounts for location-based incentives, investors and lenders using the Optimal Blue PPE can support affordable housing in underserved markets in alignment with the Community Reinvestment Act.
"With the ability to automatically determine and deliver location-based pricing, investors and lenders benefit from deeper efficiency and a streamlined price-quoting process," said Scott Happ, president of Optimal Blue, a division of Black Knight. "This expanded functionality is part of Optimal Blue's ongoing commitment to provide innovation that addresses the latest needs of the market, as well as the credit needs of low- and moderate- income neighborhoods."
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
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Michelle Kersch | Mitch Cohen |
Black Knight, Inc. | Black Knight, Inc. |
904.854.5043 | 704.890.8158 |
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SOURCE Black Knight, Inc.
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