First Interstate Bank Signs Renewal for Black Knight’s Comprehensive LoanSphere MSP Servicing System; Agreement Extends Ban...
December 04 2017 - 9:10AM
Black Knight, Inc. (NYSE:BKI) announced today that First Interstate
Bank, a $12 billion community bank with more than 120 banking
offices, has signed a three-year renewal for LoanSphere MSP, Black
Knight’s industry-leading servicing system that supports first
mortgages, as well as home equity loans and lines of credit. MSP’s
single, comprehensive platform will be used by First Interstate
Bank to manage all of its mortgage servicing processes, including
loan boarding, payment processing, escrow administration, default
management and more. First Interstate Bank has been an MSP client
for 35 years.
As part of its renewal, First Interstate Bank will implement
Black Knight’s Lien Alert solution, which monitors loans and
provides automatic 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. In addition, First Interstate Bank will use Black Knight’s
Portfolio Overview Insight solution, which leverages both Black
Knight’s LoanSphere Data Hub technology and the LoanSphere Motivity
enterprise business intelligence tool. The Data Hub collects, links
and stores loan data from client applications, Black Knight
technologies and industry data in a central location. The Motivity
solution offers on-demand, dynamic reporting that servicers can use
to quickly view detailed information about their servicing
portfolio without printing a report or opening a file.
“We are pleased to continue using Black Knight’s MSP servicing
system to increase our operational efficiency and support our focus
on providing superior client service,” said Lee Groom, senior vice
president of Home Loans, Indirect and Payments at First Interstate
Bank. “By adding Black Knight data and analytics capabilities, our
operations gain additional information on the risks within our
portfolio and offer us greater insight into mortgage industry
trends, which we can use to plan for both the near- and
long-term.”
The MSP loan servicing system is an end-to-end solution that
encompasses all aspects of servicing, and offers comprehensive
functionality to support servicers’ regulatory requirements. MSP is
used to service more than 33 million active loans and helps
servicers increase operational efficiency, reduce operating costs
and improve risk mitigation.
“We appreciate and value First Interstate Bank’s confidence in
our MSP system to continue managing the company’s expanding
servicing portfolio and supporting its client support initiatives,”
said Black Knight President Joe Nackashi. “We are proud to have
served First Interstate Bank for over 35 years, and are pleased to
continue supporting the company with innovative software and
dynamic data and analytics capabilities.”
About First Interstate BancSystem, Inc. First
Interstate BancSystem, Inc. is a financial services holding company
headquartered in Billings, Montana. It is the parent company of
First Interstate Bank. First Interstate Bank is a community bank
with $12.2 billion in assets as of September 30, 2017, delivering
financial solutions through over 125 locations across Idaho,
Montana, Oregon, South Dakota, Washington, and Wyoming. As a
recognized leader in community banking services, First Interstate
is guided by strong values as well as a commitment to delivering
long-term organic growth by exceeding client expectations and
supporting, with leadership and resources, the communities it
serves.
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
(NYSE:BKI) 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
Black Knight (NYSE:BKI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Black Knight (NYSE:BKI)
Historical Stock Chart
From Apr 2023 to Apr 2024