JACKSONVILLE, Fla., April 25, 2016 /PRNewswire/ -- Ditech Financial LLC ("Ditech") and Black Knight Financial Services, Inc. (NYSE: BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that Ditech, has converted approximately 1.4 million customers from its servicing and sub-servicing portfolios onto LoanSphere MSP, Black Knight's industry-leading loan servicing system.
MSP offers a single, comprehensive platform to support mortgage loans and home equity products that helps clients manage all servicing processes, including loan boarding, payment processing, escrow administration, default management and more.
"We selected MSP because of its ability to provide Ditech with a robust, industry-standard servicing solution with the scale to support our servicing and sub-servicing business. We anticipate this technology will further enhance our ability to deliver an exceptional customer experience as well as our compliance capabilities, an important consideration in our industry's ever-changing regulatory environment," said David Schneider, president of Ditech. "We believe the conversion was successful, largely due to the tireless efforts of Ditech's knowledgeable and talented staff coupled with Black Knight's experienced implementation and support teams, who provided strong technical, application and operational assistance throughout the process."
As previously announced, Ditech also implemented 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 solutions integrate with MSP.
"Black Knight has a strong track record of successful conversions, and we were pleased to partner with Ditech to support this implementation," said Joe Nackashi, president of Black Knight's Servicing Technologies division. "We look forward to continuing our partnership with Ditech by supporting their operational goals and future successes."
Ditech Financial LLC ("Ditech") makes financially sound homeownership possible for millions of customers. Ditech is a well-known lender and servicer of residential mortgages. With over 4,500 employees in locations across the U.S., the company provides residential mortgage products through a team of home loan specialists who are easily accessible by phone (1-800-700-9212) and online. Additionally, Ditech's Correspondent Lending Division partners with 600+ financial institutions nationwide. Ditech is owned by Walter Investment Management Corp. (NYSE: WAC), a leading diversified mortgage banking firm. For more information, please visit www.ditech.com.
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.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, certain of which are related to Ditech Financial LLC, a wholly owned subsidiary of Walter Investment Management Corp. ("Walter Investment"). Statements that are not historical fact are forward-looking statements. Certain of these forward-looking statements can be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "assumes," "may," "should," "will," "targets," or other similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, and Walter Investment's actual results, performance or achievements could differ materially from future results, performance or achievements expressed in these forward-looking statements. These forward-looking statements are based on Walter Investment's current beliefs, intentions and expectations. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause Walter Investment's actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described under the caption "Risk Factors" in the Walter Investment Annual Report on Form 10-K for the year ended December 31, 2015 and in Walter Investment's other filings with the SEC.
In addition, this press release may contain statements of Walter Investment's opinion or belief concerning market conditions and similar matters. In certain instances, those opinions and beliefs could be based upon general observations by members of Walter Investment's management, anecdotal evidence and/or Walter Investment's experience in the conduct of its business, without specific investigation or statistical analyses. Therefore, while such statements reflect Walter Investment's view of the industries and markets in which it is involved, they should not be viewed as reflecting verifiable views and such views may not be shared by all who are involved in those industries or markets.
SOURCE Black Knight Financial Services, Inc.