JACKSONVILLE, Fla., Feb. 14, 2017 /PRNewswire/ -- 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 The Huntington National Bank, a primary subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN), has signed a multi-year contract extension for LoanSphere MSP, Black Knight's industry-leading mortgage and home equity loan servicing platform. Huntington uses Black Knight's servicing platform to help reduce operational costs, maximize efficiencies, improve customer service and improve overall performance.
"We are pleased to continue our partnership with Black Knight and are eager to realize the advantages of using MSP as our company's single servicing platform for our mortgage and home equity products," said Paul Heller, Huntington's senior executive vice president, chief technology and operations officer. "By helping Huntington consolidate our technologies, MSP will save us the time and cost of updating and operating multiple, disparate systems and let us focus more on growing the bank's loan portfolio."
The MSP loan servicing system is an end-to-end solution that encompasses all aspects of servicing, and offers comprehensive functionality to support servicers' regulatory requirements. MSP, which is used to service more than 30 million active loans, supports first mortgages, as well as home equity loans and lines of credit on one platform to help servicers increase operational efficiency, reduce operating costs and improve risk mitigation.
In addition to MSP, Huntington also uses Black Knight's LoanSphere Invoicing, a Web-based solution that is tightly integrated with MSP and streamlines billing and invoicing. To support its origination operations, Huntington uses Black Knight's LoanSphere Exchange, an open technology platform that electronically connects lenders with more than 25,000 of the mortgage industry's service and solution providers. Through Exchange, lenders gain a fast, secure way to aggregate data and centralize ordering of settlement services, such as title, closing, appraisal, credit, flood, fraud, verifications, fees and more.
"We value our long-time partnership with Huntington, and are committed to supporting the bank's current and future growth initiatives," said Joe Nackashi, president of Black Knight's Servicing Technologies division. "Our continual investments in our servicing platform, along with our knowledgeable staff, supports Huntington's goals to achieve stronger performance and grow its business."
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $100 billion of assets and a network of 1,115 branches and 1,891 ATMs across eight Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides auto dealer, equipment finance, national settlement and capital market services that extend beyond its core states. Visit huntington.com for more information.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS) 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.