After using LoanSphere MSP, Black Knight Financial Services’ Loan Servicing System, for nearly six years, Bayview Loan Servicing signed a five-year renewal contract, according to a release by Black Knight.

Bayview used MSP for the previous six years in order to manage its loan portfolio and address regulatory requirements, according to the release. Bayview uses MSP’s capabilities to support its component servicing business and full servicing operations.

"We are pleased to continue our partnership with Black Knight, whose MSP servicing system provides the scalability to support our specific business needs and growth strategies," Bayview Loan Servicing president Rich O'Brien said.

Bayview also uses several other services from Black Knight such as LoanSphere Bankruptcy and Foreclosure, an application to support the bankruptcy and foreclosure process, and LoanSphere Invoicing, a service that streams billing and invoicing. These services are integrated with MSP.

"We greatly appreciate the opportunity to continue our partnership with Bayview and provide a comprehensive platform to help manage all of the company's servicing needs,” said Joe Nackashi, Black Knight's Servicing Technologies president. “MSP and our default solutions deliver the automated workflow, features and functionality to support Bayview's servicing operations and strategic goals.”