This week, mortgage data and solutions provider Black Knight introduced a new solution that aims to help mortgage servicers deepen customer relationships and increase retention.
The white-label solution, LoanSphere Servicing Digital, is available as a native mobile app and responsive web design, the company said, explaining that the solution draws upon the servicer’s data via Black Knight’s comprehensive, end-to-end LoanSphere MSP system, as well as Black Knight’s records database, advanced analytics and automated valuation models.
Black Knight explained that the interactive, consumer-centric platform allows mortgage customers to make payments, view detailed payment history and perform other self-service functions within the application.
Once in the app, customers can easily find information about their mortgages, and explore several “what-if” scenarios, including options for quickly building equity or the relative benefits of paying down or refinancing their loan. Customers can also learn the amount of wealth that can be built from their real estate assets, according to Black Knight.
"Our goal with LoanSphere Servicing Digital is to give our servicing clients an engaging, consumer-centric tool for customer retention," Black Knight CEO Anthony Jabbour said. "For many people, a house is the single greatest asset they’ll ever own. With that in mind, and employing a ‘design thinking’ approach, we’ve developed a solution that lets our clients provide their customers with ongoing, detailed information about their loans and homes, as well as the tools to help manage the wealth they have built in their homes."
LoanSphere Servicing Digital provides customers with timely and highly personalized information, regarding local school data and demographics, neighborhood recent sales and value, as well as transaction and lien history on the property about their loans and homes, according to the company.
The company hopes these features will permit customers to make better informed financial decisions about their homes.
“Increasing engagement and providing tools that add value are key to deepening the servicer-customer relationship," Black Knight President Joe Nackashi said. "By providing anytime, anywhere access to an array of customer-specific information and functionality, LoanSphere Servicing Digital enhances the consumer’s servicing experience and adds value on an ongoing basis, which results in higher retention rates."