Black Knight, a provider of Integration and analytics software for the mortgage and real estate industries, has announced a new API that will help developers automate bulk transaction pricing and committing within the lending process. This new API aims to improve efficiency and automation in the industry.
The pricing API will operate as a component of the company’s CompassPoint Platform, which helps users hedge, value, and sell mortgage originations (the process through which a lender secures a borrower a mortgage loan). Rob Kessel, a managing director for Black Knight noted in the announcement that:
"This API marks a new standard for correspondent buyer-seller interactions and processes by automating the exchange of data, which has historically been a very manual process. It also solves the daily price discovery problem so many correspondent sellers face."