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CHICAGO, IL – March 17, 2021 City Capital Advisors (“CCA”), a leading results-driven boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to NexSpring Financial in connection with the sale of the company’s cloud based loan origination system (LOS) to Black Knight, Inc. (NYSE: BKI) to broaden Black Knight’s ability to serve mortgage brokers. The new digital lending platform will be a key part of the company’s powerful, integrated, end-to-end ecosystem.
This comprehensive platform will be seamlessly integrated into the powerful Black Knight Empower LOS, so brokers using the new digital lending platform and wholesalers using Empower will benefit from a more streamlined and connected experience. The power and value of the new platform will be further enhanced by integrations with Black Knight’s comprehensive suite of origination performance solutions, including a single point to order services and obtain fees, compliance validation testing, actionable data and analytics, and Black Knight’s significantly enhanced, broker-focused Optimal Blue Loansifter product, pricing and eligibility engine (PPE).
“Black Knight is on a mission to share the advantages of our high-performance software, data and analytics with mortgage brokers, who represent the fastest-growing origination channel in the industry,” said Anthony Jabbour, CEO, Black Knight. “This broker-specific digital lending platform enables these entrepreneurs to benefit from many of the same powerful capabilities used by large lenders on a platform that meets their own unique needs and can easily scale as their business expands.”
The platform – which also features a mobile-friendly application – is designed for entrepreneurial originators looking for a better and more efficient way to originate loans. A seamless on-boarding process provides credentials in just minutes, so users can quickly start increasing their productivity with the platform’s dynamic toolset. This easy-to-use digital lending platform supports collaboration between all stakeholders in the origination process – borrowers, processors, brokers and real estate agents – by enabling them to collaborate securely on the same loan platform. Configured as a multi-tenant model, mortgage brokers using the platform will benefit from the simple cost-effective setup.
“Black Knight’s culture of investment and innovation makes it the perfect home for what NexSpring initiated,” said Mike Fabian, CEO, NexSpring. “Through further development and integration with the wider Black Knight mortgage ecosystem, we are confident that the new digital lending platform will be quickly recognized as the industry’s premier solution for mortgage brokers.”
The platform is highly configurable and allows for rapid deployment of new business rules into production in a highly transparent and controlled way. Users can also leverage proprietary content management system-enabled marketing tools, which can be accessed via a drag-and-drop lead form generator with embedded analytics.
About NexSpring Financial
NexSpring Financial is a secure and safe online mortgage company headquartered in St. Louis, Missouri.
About Black Knight
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 it’s robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively. For more information on Black Knight, please visit www.blackknightinc.com.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives.