Black Knight rolls out new marketing tools for mortgage brokers

Black Knight has added a brokerage portal to its Surefire CRM and marketing automation software, allowing wholesale lenders to provide white-label marketing collateral that mortgage brokers can customize with their own brand before sending them to customers and prospects.

A new smart broker assignment feature in Surefire also allows wholesale account managers to group and manage brokers and other third party originators (TPOs) within their assigned territories.

Rich Gagliano

“For a long time, mortgage lenders have sought an effective way to provide marketing support to their wholesale operations while honoring their brokerage partners’ preference to keep the individual brand front and center,” said Rich Gagliano, president of Black Knight origin technologies, in a declaration. “Our new Surefire Broker Portal enables wholesale lenders to better manage their TPOs and create impactful marketing materials at scale that their brokers can use to connect with customers and promote their individual brand.”

The nation’s largest wholesale mortgage lender, United Wholesale Mortgage, already offers similar capabilities through its Brand Suite 360 marketing and customer relations tools. Brand 360 tools include Brand Builder, which allows mortgage brokers to create customizable marketing materials; Client Connect, which automates communications with borrowers; and Marketing Calendar, which schedules social media posts up to 30 days in advance.

Software, data and analytics provider Black Knight has expanded the services it provides to mortgage brokers, which have steadily increased their market share in recent years.

Mortgage brokers fell out of favor after the housing crisis and recession of 2007-2009, when many traditional banks shut down their wholesale lending services. But thanks in part to growth in non-bank lending, mortgage brokers accounted for about a fifth of conventional and conforming loans in January 2021, according to data compiled by CoreLogic.

Mortgage broker market share, 2007-2021

Market share of mortgage brokers on conventional and conforming loans. Source: CoreLogic TrueStandings

Last month, Black Knight launched a new cloud-based loan origination system (LOS), LoanCatcher, which the company says was aimed at giving mortgage brokers affordable access to the same level of technology used by lenders. largest and most successful in the country.

“Entrepreneur brokers have been driving a growing share of mortgage lending, and Black Knight is committed to serving this community and furthering its growth,” Gagliano said at the time.

While UWM has controversially said it won’t do business with mortgage brokers who send loan applications to rivals Rocket Mortgage or Fairway Independent Mortgage, Black Knight boasts that LoanCatcher allows mortgage brokers to work with any wholesale lender of their choice, regardless of system.

LoanCatcher also integrates with Surefire, which Black Knight acquired in May for $250 million from developer Top of Mind Networks.

Email Matt Carter