AHP Servicing Signs 10-Year Contract to Use Black Knight's Suite of Servicing Technologies, Including the MSP Servicing System
Agreement also includes Servicing Digital, Actionable Intelligence and Default Solutions
- AHP Servicing will use the MSP system to help expand its mortgage servicing business and access its comprehensive functionality to support all areas of mortgage servicing
- Use of the Black Knight Servicing Digital solution will let AHP Servicing deliver to its borrowers information about their property and loan and how much wealth can be built from their real estate assets
- AHP Servicing will also use the servicing collection available in Black Knight's Actionable Intelligence Platform
- Black Knight's suite of default solutions will support AHP Servicing's bankruptcy and foreclosure processes, while helping to streamline billing and invoicing
JACKSONVILLE, Fla., Nov. 13, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) announced today that AHP Servicing, the country's only crowdfunded residential loan servicer, has signed a contract for multiple Black Knight servicing solutions, including MSP, Black Knight's industry-leading mortgage and home equity servicing system. MSP currently services more than 35 million active loans for numerous Black Knight clients. AHP Servicing will use MSP to manage all of its mortgage servicing processes, including loan boarding, customer service, payment processing, escrow administration, default management and more.
"AHP Servicing is expanding its business and looking for a system to help us better service loans for our investors and borrowers. We chose MSP for its proven, comprehensive technology capabilities that will enable us to deliver a premier customer experience and support our loan servicing growth initiatives," said Kenny Daniel, president of AHP Servicing. "Black Knight offers everything we want in a technology partner – from reliability to innovation – and we look forward to utilizing MSP and additional servicing solutions to take our business to the next level."
AHP Servicing will also use Black Knight's Servicing Digital solution to deliver detailed, timely and highly personalized loan information to borrowers about the value of their homes and how much wealth can be built from these real estate assets. Servicing Digital will help AHP Servicing deepen both investor and borrower relationships and increase member retention by giving consumers easy, round-the-clock access to home and loan information; the ability to make a mortgage payment online; and over time present opportunities for refinancing, taking out a home equity loan or purchasing another home.
In addition, AHP Servicing will use Black Knight's Actionable Intelligence Platform (AIP), a unified framework for delivering strategic, proactive and actionable analytics to the right people within an organization at the right time, so they know the right actions to initiate next. The analytics include AIP's Portfolio Overview Suite, which helps servicers proactively monitor and manage their operations through the use of key performance metrics; and AIP's Lien Alert Suite, which provides servicers with instant notifications about key lien-related indicators on loans in their portfolio.
Additionally, AHP Servicing will also use several of Black Knight's default solutions, including Foreclosure and Bankruptcy, an enterprise workflow application to support bankruptcy and foreclosure processes; and Invoicing, a web-based solution that streamlines billing and invoicing. Both of these default solutions are integrated with the MSP system.
"We are pleased that AHP Servicing is using our comprehensive and integrated technology, data and analytics solutions to support the company's business expansion," said Joe Nackashi, president of Black Knight. "AHP Servicing chose Black Knight because our suite of innovative products can help them grow revenue, improve margins and reduce risk."
About AHP Servicing AHP Servicing is transforming the loan servicing process. In addition to servicing loans for third parties, it invests in and services performing and non-performing loans that have the potential to be restructured or settled rather than being written off or liquidated. It delivers the technology needed to track and manage these loans, and trained client advocates help borrowers maintain a momentum that keeps payments on track. www.ahpservicing.com
About Black Knight Black Knight (NYSE: BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.