Black Knight provides industry-leading servicing solutions, which includes the best-in-class servicing platform, MSP, as well as several innovative capabilities that support all size portfolios and every aspect of servicing, from loan boarding to default.
The Black Knight MSP loan servicing system automates all areas of loan servicing, increasing operational efficiencies and reducing the cost of supporting separate systems. MSP’s broad-based functionality supports a wide range of loan products, including home equity loans and lines of credit. Using a single, integrated servicing system makes it easier for servicers to provide excellent service to their customers during these busy times.
The economic impact of the COVID-19 pandemic has forced mortgage servicers to modify many processes to support their customers. Notably, the pandemic has resulted in a surge of COVID-19-driven forbearance requests.
As a result, servicers need an efficient way to both manage the increased volume of forbearance requests, as well as prepare for a surge in prepayment plans when forbearance periods end.
Black Knight has made several investments in and enhancements to MSP, and other suites of solutions that integrate with MSP, to address this need.
As an example, Black Knight offers a comprehensive Loss Mitigation system, which is tightly integrated with MSP and can easily support loans as their forbearance plans end. This solution includes preconfigured capabilities and delivers end-to-end functionality that helps significantly streamline forbearance and loan modification processes. Black Knight also added functionality to Loss Mitigation that allows business users to extend and adjust forbearances in bulk.
In today’s competitive market, servicers can distinguish themselves by elevating the level of service they provide to their customers. Black Knight’s innovative Customer Service solution is fully integrated with MSP and assists customer service representatives in providing proactive, personalized borrower support, faster responses and increased transparency.
Black Knight’s Servicing Digital solution is another powerful tool that helps servicers deliver superior support and empower their customers. Servicing Digital gives consumers the ability to make loan payments from their mobile devices, and offers detailed, timely and personalized loan information. In fact, consumers can also request extensions to their existing forbearance plans directly within Servicing Digital, which servicers can review in MSP.
“As an industry leader, Black Knight’s ability to develop and integrate advanced products, data and analytics across the loan life cycle and to support our growing client base is second to none. We are committed to helping servicers successfully navigate the unprecedented challenges of COVID-19, while providing the tools necessary to delight their customers,” said Joe Nackashi, president of Black Knight.
Black Knight continues to innovate and make significant investments in its products, regularly introducing new and enhanced solutions that help servicers successfully navigate the challenges of changing market conditions, including those experienced during the COVID-19 pandemic. In turn, servicers can address critical client needs to improve profitability and retain customers.
Anthony Jabbour, CEO
Anthony Jabbour is responsible for the company’s overall vision and direction, and is passionate about delivering innovative solutions across the loan life cycle that help lenders and servicers retain existing customers, gain new customers and operate more efficiently.
Joseph Nackashi, President
Joseph Nackashi is dedicated to Black Knight delivering integrated and innovative solutions that help transform the industry, and is committed to superior client support and helping clients achieve greater levels of success.
Shelley Leonard, Chief Product and Digital Officer
Shelley Leonard leads Black Knight’s enterprise product strategy and is responsible for defining the company’s product and digital initiatives, which are focused on helping our clients increase customer satisfaction and retention.