Fannie Mae Renews Agreement With Black Knight for DMRS Online Tool; Helps Servicers and Attorneys Report Default-Related Mile...
March 14 2018 - 4:05PM
Black Knight, Inc. (NYSE:BKI) announced today that Fannie Mae has
signed an agreement to continue its use of the Default Management
Reporting System (DMRS). Developed by Fannie Mae and Black Knight,
DMRS provides an online tool where servicers and the attorney firms
they work with can report foreclosure and bankruptcy milestone
events that occur on Fannie Mae loans. The tool delivers numerous
benefits to servicers and attorneys, including greater efficiencies
through the standardization of industry terminology, data
transparency and a reduction in investor data requests.
The DMRS technology aggregates and links servicer and attorney
data, then evaluates it to identify process and timeline
discrepancies. Servicers and attorneys are notified of any
discrepancies, so they can take appropriate corrective action. This
centralized data reporting tool is used throughout the bankruptcy
and foreclosure process, and offers an easy-to-use interface for
data submission and monitoring.
DMRS is integrated with Black Knight’s industry-leading
LoanSphere MSP servicing system as well as the company’s LoanSphere
Bankruptcy and LoanSphere Foreclosure applications, which leverage
workflow, automation and servicer-defined rules to streamline
default servicing processes. DMRS also supports other loan
servicing platforms, providing all servicers with easy access to
the tool.
“Black Knight is pleased to support Fannie Mae’s initiatives to
provide servicers with a streamlined reporting process and greater
efficiencies via an innovative, accessible solution,” said Joe
Nackashi, president of Black Knight and its Servicing Technologies
division. “Together, we are facilitating a faster, more efficient
process through improved data standardization and
transparency.”
About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and
affordable rental housing possible for millions of Americans. We
partner with lenders to create housing opportunities for families
across the country. We are driving positive changes in housing
finance to make the home buying process easier, while reducing
costs and risk. To learn more, visit fanniemae.com and follow us on
twitter.com/fanniemae.
About Black Knight
Black 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.
As a leading fintech, 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 http://www.blackknightinc.com/.
For more
information:
Michelle
Kersch
Black Knight,
Inc.
904.854.5043
michelle.kersch@bkfs.com
Mitch CohenBlack Knight,
Inc.
704.890.8158mitch.cohen@bkfs.com
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