Colonial Selects Black Knight's Consumer-Focused Servicing Ecosystem to Deliver an Exceptional Experience Throughout the Servicing Journey

• Colonial Savings F.A. has signed a contract for Black Knight's ecosystem of servicing capabilities, including the MSP loan servicing system, to support its customer-first mission
• MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default
• Colonial will also use Servicing Digital, Customer Service and Loss Mitigation solutions to further enhance customer interactions and to support retention

JACKSONVILLE, Fla., Nov. 21, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that Colonial Savings F.A., a national, multi-service financial institution headquartered in Fort Worth, Texas, has signed a contract to use Black Knight's ecosystem of servicing capabilities, including the MSP loan servicing system. Colonial chose Black Knight for its powerful, consumer-focused servicing solutions that are designed to enhance the customer experience, support retention strategies and deliver greater operational efficiencies.

"Black Knight is a proven market leader with highly regarded solutions and a track record of delivering on their promise of new innovation," said Tim Neer, Senior Vice President, Colonial. "By trusting our servicing portfolio to Black Knight's technology, we gain a new level of assurance at Colonial – one only Black Knight can provide."

At the core of Black Knight's servicing ecosystem is MSP, a comprehensive, end-to-end loan servicing system that supports all aspects of servicing, from loan boarding to default. Using MSP and Black Knight's integrated servicing solutions will not only help Colonial enhance the customer experience, but it will also help the company realize greater operational efficiencies and manage regulatory compliance.

Black Knight's customer-centric capabilities are focused on exceeding the needs of homeowners throughout the servicing journey. This includes providing them with convenient, self-service tools and speedy resolutions, as well as offering technology that can help them remain in their home during periods of hardship.

Servicing Digital – an interactive, consumer-facing web and mobile solution – gives homeowners easy access to customized, timely information about their mortgage and home. This powerful application supports deeper consumer relationships and engagement by enabling customers to make mortgage payments and explore opportunities for refinancing and more – all from the convenience of the web or a mobile device.  

Colonial will also use Customer Service, which gives support representatives access to detailed, holistic and timely information at the point of customer contact. The solution presents loan, home and neighborhood information through an intuitive, easy-to-use graphical interface – helping representatives deliver exemplary service by responding to questions quickly, accurately and efficiently. Since Colonial is implementing both Customer Service and Servicing Digital, the company's support representatives will have a view of what their homeowners are seeing on their mobile device when they call, facilitating an even more productive and enriching conversation.

Colonial will use Loss Mitigation – a feature-rich, web-based solution that supports industry-standard retention, collections and liquidation workouts – to support customers experiencing hardship, with the objective of helping them remain in their home. Loss Mitigation leverages advanced rules and logic to guide users through processes step-by-step, including validation points throughout the workflow, to reduce missed steps and overlooked information. 

"By choosing Black Knight's suite of customer-first solutions, Colonial will be well positioned to deliver the self-service capabilities today's consumers expect, which can result in higher retention rates and business growth," said Joe Nackashi, CEO, Black Knight. "They selected us for the innovations we deliver, and it's our privilege to continue bringing the latest capabilities to Colonial – and all of our servicing clients."   

About Black Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.

About Colonial Savings
Founded in 1952 as Fort Worth Mortgage Corporation, today Colonial is a national, multi-service financial institution headquartered in Fort Worth, Texas. A federally chartered thrift, Colonial is one of the largest servicers of residential mortgage loans in the United States, with a servicing portfolio of more than $20 Billion. Colonial operates Colonial National Mortgage, a leading retail mortgage lender that provides home loans in all 50 states, as well as a network of six consumer/commercial banks located throughout North Central Texas. The privately held company provides a full array of personal and business financial products and originates approximately $1 billion in FHA, VA, Jumbo, Conventional, Condo, First-Time Homebuyer and innovative Single Close Construction loans annually. For additional information, please visit GoColonial.com.

SOURCE Black Knight, Inc.