JACKSONVILLE, Fla., Jan. 20, 2016 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE: BKFS) announced today that myCUmortgage, a credit union servicing organization (CUSO) wholly owned by Wright-Patt Credit Union, has signed a seven-year contract to implement LoanSphere MSP, Black Knight's industry-leading mortgage and home equity loan servicing platform. MSP is a complete, end-to-end system used by financial institutions to manage all servicing processes, including escrow administration, investor reporting and more. The platform offers servicers the ability to meet the mortgage and home equity loan servicing needs of any size portfolio.
myCUmortgage is moving its mortgage loans from a current sub-servicing provider to in-house servicing on Black Knight's MSP system. After a thorough RFP process, myCUmortgage selected MSP because of its scalability, its flexibility to meet changing regulatory requirements and the system's proven track record of servicing excellence. The MSP platform will support myCUmortgage's projected growth of its loan servicing portfolio, as well as help further enhance the member experience.
"MSP's scalability will allow us to service a growing portfolio of loans while delivering excellent service to our members," said Tim Mislansky, president of myCUmortgage. "We are looking forward to the process consistency and comprehensive functionality offered by MSP, as well as to working with a proven technology provider that can help support our regulatory compliance."
The organization will also use additional Black Knight solutions that are integrated with MSP, including:
- LoanSphere Loan Boarding to automate the loan setup process
- iDisburse, a fully automated solution for processing, reviewing, printing and auditing mortgage-related and other disbursements
- Director, MSP's graphical interface for users
- Customer CareNet, an online solution that gives borrowers instant access to their mortgage information
- Passport, a browser-based ad hoc query solution that accesses loan portfolio data housed on MSP
- Web Direct, online access to loan information for approved third parties
MSP is part of LoanSphere, Black Knight's sophisticated platform of integrated technology, data and analytics that supports the mortgage and home equity loan lifecycle -- from origination to servicing to default. LoanSphere significantly enhances the traditional lending industry business model by fully integrating origination and servicing functions through business process automation, workflow, configurable rules and integrated data.
"MSP delivers the automated workflow, functionality and integrations to support myCUmortgage's servicing operations and business goals," said Joe Nackashi, president of Black Knight's Servicing Technologies division. "With our single, scalable servicing platform, Black Knight helps our clients achieve their immediate and long-term goals for growth, increased efficiency, effective risk management and enhanced customer service."
About myCUmortgage myCUmortgage® is a wholly-owned Credit Union Service Organization of Wright-Patt Credit Union, based in Beavercreek, Ohio. myCUmortgage helps nearly 200 credit unions nationwide to assist their members with homeownership through quality, cost-efficient, service-driven mortgage solutions. Visit www.myCUmortgage.com for more information.
About LoanSphere LoanSphere is Black Knight's premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle -- from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight's LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance.
About Black Knight Financial Services, Inc. Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE: FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
For more information:
Michelle Kersch Black Knight Financial Services 904.854.5043 firstname.lastname@example.org
SOURCE Black Knight Financial Services, Inc.