JACKSONVILLE, Fla., April 21, 2016 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE:BKFS) announced today that Bayview Loan Servicing, LLC, a residential and small-balance commercial mortgage loan servicer headquartered in Coral Gables, Fla., has signed a five-year contract renewal for LoanSphere MSP, Black Knight's industry-leading loan servicing system. MSP is a complete, scalable, end-to-end system used by financial institutions to manage all servicing processes, including loan setup and maintenance, escrow administration, investor reporting, regulatory requirements and more.
Bayview has been using MSP for six years to help efficiently manage the company's expanding loan portfolio, as well as address evolving regulatory requirements. MSP's scalability and innovative capabilities can support Bayview's component servicing business, as well as its full servicing operations. In addition to MSP, Bayview uses several of Black Knight's default solutions, including LoanSphere Bankruptcy and Foreclosure, an enterprise workflow application to support the bankruptcy and foreclosure processes; and LoanSphere Invoicing, a Web-based solution that streamlines billing and invoicing. Both of these default solutions are integrated with MSP.
"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," said Rich O'Brien, president of Bayview Loan Servicing.
"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. MSP and our default solutions deliver the automated workflow, features and functionality to support Bayview's servicing operations and strategic goals," said Joe Nackashi, president of Black Knight's Servicing Technologies division.
About Bayview Loan Servicing
Bayview Loan Servicing, LLC is a top-rated residential and commercial mortgage loan servicer focused on helping homeowners preserve ownership, and as a mortgage lender, is dedicated to meeting the needs of customers nationwide.
With over 1300 mortgage professionals, Bayview Loan Servicing is headquartered in Coral Gables, Fla., and has offices in Fort Lauderdale, Fla., Hurst, Texas, Ft. Washington, Pa. and Doral, Fla. Bayview Loan Servicing is a subsidiary of Bayview Asset Management, LLC, a full-service mortgage investment firm with expertise in the analysis and management of distressed and performing mortgages.
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.
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SOURCE Black Knight Financial Services, Inc.