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First Bank Mortgage Signs Multi-Year Renewal for Black Knight's LoanSphere MSP Servicing System; Adds Data-Related Solutions
JACKSONVILLE, Fla., Oct. 23, 2017 (GLOBE NEWSWIRE) -- 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 anddelinquency 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 Mortgage About LoanSphere About Black Knight 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: |