HomeStreet Bank Signs Five-Year Renewal for LoanSphere MSP Servicing System; Implements LoanSphere Invoicing Solution
December 19 2017 - 4:15PM
Agreement continues nearly 45-year relationship
with Black Knight
Black Knight, Inc. (NYSE:BKI) announced today that HomeStreet Bank,
a mortgage banking subsidiary of HomeStreet, Inc. (Nasdaq:HMST),
has signed a five-year renewal for Black Knight’s premier,
industry-leading loan servicing system: LoanSphere MSP. This
comprehensive, end-to-end solution encompasses all aspects of
servicing – from loan boarding to default – for first mortgages and
home equity loans. The MSP system is used to service more than 33
million active loans and helps servicers increase operational
efficiency, reduce operating costs and improve risk
mitigation.
“At HomeStreet, our customers are our number-one priority. The
work that Black Knight has been doing to enhance and innovate MSP
has helped to advance our consumer offerings, which in turn helps
us provide additional capabilities and superior support to our
customers,” said Marlene Price, senior vice president, loan
servicing director for HomeStreet Bank.
HomeStreet Bank has also implemented Black Knight’s LoanSphere
Invoicing technology, a web-based invoice management solution that
consolidates invoice process tasks – from bill presentment and
processing to post-payment activities. By creating an entirely
electronic process, LoanSphere Invoicing can help servicers realize
faster, easier and more cost-effective payments on invoices.
LoanSphere Invoicing is part of Black Knight’s comprehensive
Default Solutions suite, which uses advanced workflow and
user-defined rules to help servicers more effectively manage
default-related servicing processes.
“We are proud to continue supporting HomeStreet with the
industry’s leading servicing system and our innovative invoicing
technology,” said Joe Nackashi, president of Black Knight. “As a
premier fintech, we are committed to pioneering advanced
capabilities that will help transform the mortgage industry, so
clients can gain optimal results and meet ever-changing consumer
needs for a more digital servicing experience.”
About HomeStreet, Inc. Now in its 97th year,
HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services
company headquartered in Seattle, Washington and is the holding
company for HomeStreet Bank, a state-chartered, FDIC-insured
commercial bank. HomeStreet offers consumer, commercial and private
banking services and investment and insurance products, and
originates residential and commercial mortgages and construction
loans for borrowers located in the Western United States and
Hawaii. Additional information on HomeStreet Bank can be found at
www.homestreet.com.
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:
Michelle KerschBlack Knight,
Inc.
904.854.5043
michelle.kersch@bkfs.com
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