Black Knight Financial Services, Inc. (BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that EverBank has renewed for another five years its long-term contract for LoanSphere MSP, Black Knight's premier mortgage and home equity loan servicing system.
The company is also implementing Black Knight's Lien Alert solution and will continue to use Black Knight's LoanSphere Bankruptcy, LoanSphere Foreclosure and LoanSphere Invoicing solutions.
Headquartered in Jacksonville, Fla., EverBank is Black Knight's longest-tenured MSP client. EverBank uses MSP to manage all servicing processes, including loan setup and maintenance, escrow administration, investor reporting and regulatory requirements. MSP supports EverBank's mortgage loans on a single platform, helping to reduce the costs, resources and potential risks associated with operating multiple systems.
"We are pleased to continue our longstanding and trusted relationship with Black Knight," said Blake Wilson, president and chief operating officer of EverBank. "MSP is critical to our mortgage operations, and its comprehensive functionality and scalability will help support our future growth and success."
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.
Black Knight's Lien Alert solution instantly provides alerts on loans in the servicer's portfolio when any of 10 key lien-related indicators occur that could negatively impact the servicer's business.
The LoanSphere Bankruptcy and LoanSphere Foreclosure solutions uses workflow and servicer-defined rules to help servicers more efficiently manage the bankruptcy and foreclosure processes through task automation, while the LoanSphere Invoicing solution consolidates the invoice process, from bill presentment and processing to post-payment activities.
"We value our long-time partnership with EverBank, and look forward to providing the capabilities that will help support its future growth and EverBank's regulatory compliance," said Joe Nackashi, president of Black Knight's Servicing Technologies division. "EverBank will benefit from Black Knight's continual investments in MSP, as well as our other innovative technologies, to deliver solutions that help support our clients' operations, reduce costs and mitigate risk."