VanDyk Mortgage Corporation has signed a contract to use Black Knight‘s MSP system to expand its servicing operations, the company announced Wednesday.
Black Knight, which provides integrated technology, services, data and analytics to the mortgage lending, servicing and real estate industries, has contracts providing its MSP servicing system to companies, such as multi-channel fintech platform Lower and Iowa Bankers Mortgage Corporation.
Black Knight’s MSP loan servicing system is a single, comprehensive platform used by servicers to support a range of loan products including first mortgages and home equity loans, and lines of credit on a single system.
“Replacing our current technology with the MSP servicing system offers us the scalability, robust automation, strong compliance tools and flexibility we need moving forward into the future,” Jeanie Nivison, chief operating officer at VanDyk Mortgage, said in a statement.
As rising interest rates affect origination volumes, many servicers are focusing on customer retention strategies. Black Knight representatives said its MSP system is integrated with tools that can help servicers boost retention, including Black Knight’s “customer service solution.”
To enhance its operations and provide better service, VanDyk Mortgage Corporation also will use Black Knight’s servicing digital and loss mitigation solutions, as well as its “actionable intelligence platform.”
In the rapid-fire, volatile mortgage marketplace, lenders need technologies to help them remain nimble and successfully navigate constant change. Advanced product, pricing and eligibility technology creates efficiencies and helps lenders compete in a fast-paced market.
Presented by: Black Knight
Offered as a mobile app and web solution, servicing digital gives customers the power to perform tasks and access home, property and loan information on their own, according to Black Knight.
VanDyk, established in 1987, is licensed in 43 states with more than 90 brand offices nationwide. The firm closed more than 120,000 mortgage loans over more than 30 years, according to VanDyk’s website.