theMReport.com Your trusted source for mortgage banking news
Florida-based Black Knight, Inc. has announced that Home Point Financial, a national, multi-channel mortgage originator and servicer, went live on Black Knight’s premier loan servicing system, LoanSphere MSP, as well as its suite of default products. MSP is a comprehensive, end-to-end system that encompasses all aspects of servicing—from loan boarding to default—for first mortgages and home equity loans. The system is used to service more than 34 million active loans and helps servicers streamline operations, reduce operating costs, and improve risk mitigation.“As we continue to focus on the significant growth of our servicing operations, we believe Black Knight’s MSP system and its default suite will be critical to helping us achieve our goals,” said Willie Newman, President and CEO of Home Point Financial, which is based in Ann Arbor, Michigan. “Adding these servicing and default capabilities will help us drive operational efficiencies, accommodate our expanding loan portfolio and support our regulatory compliance efforts.”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.
In addition to MSP, Home Point Financial also implemented:
- LoanSphere Bankruptcy, which assists servicers’ management of the bankruptcy process by using workflow and servicer-defined rules to automate bankruptcy-related tasks;
- LoanSphere Foreclosure, which uses workflow and automated, servicer-defined rules to help servicers with the foreclosure process; and
- LoanSphere Invoicing, a web-based invoice management solution that consolidates invoice process tasks—from bill presentment and processing to post-payment activities.
“We are proud to welcome Home Point Financial to the Black Knight family. Our innovative servicing capabilities are providing the support Home Point Financial needs to expand its servicing operations and support its growth initiatives,” said Joe Nackashi, President of Black Knight. “By delivering on these implementations, Black Knight is helping Home Point Financial perform stronger in today’s competitive marketplace.”
