Santander Bank, a subsidiary of Spanish banking group Banco Santander, has selected Black Knight Financial Services' loan origination system to support originations of first and second mortgages.
The LoanSphere Empower system will allow the bank to consolidate its origination technologies for its retail, wholesale and home equity channels in order to improve efficiency and risk management, the technology vendor said.
Santander Bank US head of mortgage banking and consumer underwriting Stephen Adamo said: "We chose to work with Black Knight to help us mitigate risk by eliminating the need to update and maintain multiple origination systems to support new and changing regulatory requirements.
"In addition, Empower will enhance our customers' experience by providing them with anytime, anywhere access to manage documents and loan status information through the system's online tools."
Empower helps electronically capture and process data for every aspect of loan origination, Black Knight said. The system can be hosted at Black Knight’s data centre or self-hosted by a lender.
Black Knight Origination Technologies division president Jerry Halbrook said: "With a full suite of integrated technology and data solutions across the entire loan lifecycle, Black Knight has a proven track record of helping lenders with regulatory requirements, collaborating with clients on solutions and providing technological support and insight to support ongoing industry changes."