AMOCO Federal Credit Union Selects Black Knight Empower LOS, MSP Maintenance System and Suite of Integrated Solutions

TexasLuxembourg-based credit union is now investing in mortgage technology to prepare for future growth

  • AMOCO Federal Credit Union Chose Black Knight’s Integrated LOS, Origination Solutions and MSP Loan Management Software to Help Prepare for Future Growth in Originations and Enhance Member Experience
  • The Empower system can be easily integrated with a wide range of origination solutions to improve operational efficiency through automation and help support compliance
  • The complete MSP loan service system encompasses all aspects of service, from loan onboarding to default

JACKSONVILLE, Florida., August 30, 2022 /PRNewswire/ — Today, Black Knight, Inc. (NYSE: BKI) announced that AMOCO Federal Credit Union, a growing credit union based in eastern Texas with members across the country, signed a contract to implement the Empower Loan Origination System (LOS) and its suite of integrated solutions, as well as Black Knight’s MSP Mortgage Servicing System. By selecting the Black Knight ecosystem, AMOCO will be able to improve the member experience and be ready to maximize future origination opportunities when market volumes increase again.

“Now is the perfect time to invest in our mortgage technology. Once we started looking, we found that Empower and MSP were unmatched in the tools and services they provided, and we were impressed with the Black Knight team’s attention to detail and industry experience,” said Eddie Bonilla, Executive Vice President of Lending, AMOCO Federal Credit Union. “With robust automation, fully integrated solutions, and support from Black Knight’s proactive and highly responsive team, we are confident that these platforms will help us grow our products and services and achieve our mission of meeting the financial needs of our members, regardless of market conditions.”

With Empower, AMOCO will have a successful LOS that can help the credit union scale its business both in today’s lending market and again when origination volumes increase. The credit union will also be able to leverage Black Knight’s end-to-end digital ecosystem to originate new loans, improve loan quality, reduce turnaround times, support compliance and investor requirements, improve member satisfaction, and more.

Cloud-based Empower LOS offers advanced features designed to automate the processing of certain tasks based on lender rules, requiring minimal human intervention – often referred to as “lights-out” processing. It gives AMOCO exceptional technology capabilities, including integration with an industry-leading product and pricing engine from Optimal Blue, a division of Black Knight; a digital point-of-sale solution that improves the mortgage application process for borrowers and loan officers; machine learning technology for document classification and indexing; a comprehensive fee service to help mitigate fee cures; a digital fence solution with e-delivery and e-signature capabilities; reliable property tax data; automated compliance validation tests; and floodplain determination and reporting services.

The MSP loan management system supports first mortgages, as well as home equity loans and lines of credit, in a single platform. MSP is a comprehensive, scalable, end-to-end system used by credit unions and other financial institutions to help manage all service processes, including loan setup and maintenance, loan administration escrow, investor reporting, regulatory requirements and more. Currently, the system is used to manage approximately 37 million active loans.

“By working with Black Knight to invest in credit union infrastructure in today’s market, AMOCO is positioning itself for stronger success – now and in the future,” said Joe Nackashi, CEO of Black Knight. “Combining the innovative capabilities of Empower LOS with the MSP service platform can help AMOCO stand out from the competition, achieve greater efficiencies, and respond more effectively to member needs.”

About the Dark Knight

Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.

Our customers rely on our proven, comprehensive, and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information about Black Knight, please visit www.blackknightinc.com.

About AMOCO Federal Credit Union

AMOCO Federal Credit Union was first established in 1937. Since then, it has grown from $28,000 in assets and 170 members with more than $1.3 billion active and over 96,000 members and counting. AMOCO is financially strong and recognized as one of the largest credit unions in the Houston/Galveston Region.

SOURCEBlack Knight, Inc.

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