- Colonial Savings F.A. has signed a contract for Black Knight's
ecosystem of servicing capabilities, including the MSP loan
servicing system, to support its customer-first mission
- MSP is a comprehensive, end-to-end loan servicing system
that encompasses all aspects of servicing, from loan boarding to
- Colonial will also use Servicing Digital, Customer Service and
Loss Mitigation solutions to further enhance customer interactions
and to support retention
JACKSONVILLE, Fla., Nov. 21,
2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:
BKI) announced that Colonial Savings F.A., a national,
multi-service financial institution headquartered in Fort Worth, Texas, has signed a contract to
use Black Knight's ecosystem of servicing capabilities, including
the MSP loan servicing system. Colonial chose Black Knight for its
powerful, consumer-focused servicing solutions that are designed to
enhance the customer experience, support retention strategies and
deliver greater operational efficiencies.
"Black Knight is a proven market leader with highly regarded
solutions and a track record of delivering on their promise of new
innovation," said Tim Neer, Senior
Vice President, Colonial. "By trusting our servicing portfolio to
Black Knight's technology, we gain a new level of assurance at
Colonial – one only Black Knight can provide."
At the core of Black Knight's servicing ecosystem is MSP, a
comprehensive, end-to-end loan servicing system that supports
all aspects of servicing, from loan boarding to default. Using MSP
and Black Knight's integrated servicing solutions will not only
help Colonial enhance the customer experience, but it will also
help the company realize greater operational efficiencies and
manage regulatory compliance.
Black Knight's customer-centric capabilities are focused on
exceeding the needs of homeowners throughout the servicing journey.
This includes providing them with convenient, self-service tools
and speedy resolutions, as well as offering technology that can
help them remain in their home during periods of hardship.
Servicing Digital – an interactive, consumer-facing
web and mobile solution – gives homeowners easy access to
customized, timely information about their mortgage and home. This
powerful application supports deeper consumer relationships and
engagement by enabling customers to make mortgage payments and
explore opportunities for refinancing and more – all from the
convenience of the web or a mobile device.
Colonial will also use Customer Service, which gives support
representatives access to detailed, holistic and timely information
at the point of customer contact. The solution presents loan, home
and neighborhood information through an intuitive, easy-to-use
graphical interface – helping representatives deliver exemplary
service by responding to questions quickly, accurately and
efficiently. Since Colonial is implementing both Customer Service
and Servicing Digital, the company's support representatives will
have a view of what their homeowners are seeing on their mobile
device when they call, facilitating an even more productive and
Colonial will use Loss Mitigation – a feature-rich,
web-based solution that supports industry-standard retention,
collections and liquidation workouts – to support customers
experiencing hardship, with the objective of helping them remain in
their home. Loss Mitigation leverages advanced rules and logic to
guide users through processes step-by-step, including validation
points throughout the workflow, to reduce missed steps and
"By choosing Black Knight's suite of customer-first solutions,
Colonial will be well positioned to deliver the self-service
capabilities today's consumers expect, which can result in higher
retention rates and business growth," said Joe Nackashi, CEO, Black Knight. "They selected
us for the innovations we deliver, and it's our privilege to
continue bringing the latest capabilities to Colonial – and all of
our servicing clients."
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 our robust, integrated solutions across the
entire homeownership life cycle to help retain existing customers,
gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products
and our unwavering commitment to delivering superior client support
to achieve their strategic goals and better serve their customers.
For more information on Black Knight, please visit
About Colonial Savings
Founded in 1952 as Fort Worth
Mortgage Corporation, today Colonial is a national, multi-service
financial institution headquartered in Fort Worth, Texas. A federally chartered
thrift, Colonial is one of the largest servicers of residential
mortgage loans in the United
States, with a servicing portfolio of more than $20 Billion. Colonial operates Colonial National
Mortgage, a leading retail mortgage lender that provides home loans
in all 50 states, as well as a network of six consumer/commercial
banks located throughout North Central
Texas. The privately held company provides a full array of
personal and business financial products and originates
approximately $1 billion in FHA, VA,
Jumbo, Conventional, Condo, First-Time Homebuyer and innovative
Single Close Construction loans annually. For additional
information, please visit GoColonial.com.
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SOURCE Black Knight, Inc.