First Bank Mortgage Signs Multi-Year Renewal for Black Knight’s LoanSphere MSP Servicing System; Adds Data-Related Solution...
October 23 2017 - 9:00AM
Black Knight, Inc. (NYSE:BKI) announced today that First Bank
Mortgage, a division of First Bank, one of the nation’s largest
family-owned-and-led banks, has signed a three-year renewal for
LoanSphere MSP, Black Knight’s industry-leading servicing system.
MSP’s single, comprehensive platform will be used by First Bank
Mortgage to manage all of its mortgage servicing processes,
including loan boarding, payment processing, escrow administration,
default management and more. MSP’s innovative technology will
continue to support First Bank Mortgage’s efforts to remain
compliant with regulatory requirements.
As part of the renewal, First Bank Mortgage will also implement
Black Knight’s Lien Alert, a unique, automated solution that
monitors loans and provides alerts on critical lien-related
indicators that could impact a servicer’s business, such as
foreclosure/default activity, ownership changes, new loans
recorded, ARM resets and more. The Lien Alert solution is
integrated with MSP. In addition, First Bank Mortgage will use
Black Knight’s McDash reporting suite, which offers insights into
monthly prepayment and delinquency trends for various sectors
within the mortgage market and detailed roll-rate reporting derived
from one of the industry’s largest and most granular loan-level
mortgage performance databases.
“We are pleased to continue using Black Knight’s MSP platform
for effective management of our servicing processes and supporting
our compliance efforts,” said Bill Kusman, president at First Bank
Mortgage. “The addition of Black Knight data and analytics
capabilities will help our operations become aware of risks within
our portfolio and offer us greater insight into mortgage industry
trends, so we can plan accordingly.”
The MSP loan servicing system is an end-to-end solution that
supports both first mortgages and home equity loans and lines of
credit, encompasses all aspects of servicing, and offers
comprehensive functionality to support servicers’ regulatory
requirements. MSP is used to service more than 30 million active
loans and helps servicers increase operational efficiency, reduce
operating costs and improve risk mitigation.
“We appreciate First Bank Mortgage’s confidence in our MSP
system to continue managing the company’s servicing portfolio and
supporting its compliance initiatives,” said Black Knight President
Joe Nackashi. “We are proud to have served First Bank Mortgage for
a quarter of a century, and are pleased to continue supporting the
company’s processes with innovative software and dynamic data and
analytics capabilities.”
About First Bank MortgageFirst Bank Mortgage, a
division of First Bank, is a leading provider of premier mortgage
products and services across the United States. First Bank Mortgage
is committed to delivering a holistic home buying experience
throughout the mortgage lifecycle. From fixed-rate conventional
mortgage loans, FHA, VA, and jumbo mortgage loans up to $5 million
to adjustable rate programs and construction lending, First Bank
Mortgage’s experienced loan professionals work with clients to find
a tailored solution that’s just right for them.
About LoanSphere LoanSphere is Black Knight’s
premier, end-to-end platform of integrated technology, data and
analytics supporting the entire mortgage and home equity loan
lifecycle – from origination to servicing to default. The platform
delivers business process automation, workflow, rules, and
integrated data throughout the loan process, providing a better
user experience, cost savings and support for changing regulatory
requirements. By integrating lending functions and data, Black
Knight’s LoanSphere helps lenders and servicers reduce risk,
improve efficiency, and drive financial performance.
About Black KnightBlack Knight is a leading
provider of integrated software, data and analytics solutions that
facilitate and automate many of the business processes across the
homeownership lifecycle.
Black Knight is committed to being a premier business
partner that clients rely on to achieve their strategic goals,
realize greater success and better serve their customers by
delivering best-in-class software, services and insights with a
relentless commitment to excellence, innovation, integrity and
leadership. For more information on Black Knight, please visit
www.blackknightinc.com.
For more information:
Media
contact:
Michelle
Kersch
904.854.5043
michelle.kersch@bkfs.com
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