JACKSONVILLE, Fla., Feb. 22, 2021 /PRNewswire/ — Black Knight, Inc. (NYSE:BKI), a number one supplier of built-in software program, information and analytics to the mortgage and actual property industries, introduced the growth of its relationship with The Money Source Inc. (TMS), a number one fintech supplier centered on mortgage servicing, subservicing and correspondent lending. TMS signed a multi-year renewal for Black Knight’s suite of servicing and default options, together with the MSP servicing system. TMS additionally lately applied Black Knight’s Loss Mitigation, a complete, end-to-end loss mitigation workflow and decisioning software, and can quickly be utilizing Servicing Digital, an modern answer that provides debtors ongoing, detailed details about their loans and houses, and the instruments to handle housing wealth.
“We take nice satisfaction in providing our clients best-in-class expertise, so it was essential for us to increase our dedication to utilizing MSP, the business’s main servicing system, and its suite of built-in capabilities to assist our default mortgage processes,” mentioned Stavros Papastavrou, CEO, TMS. “TMS can be dedicated to driving servicing innovation in our operations, and there’s merely no higher associate on this regard than Black Knight and its confirmed document of bringing transformational expertise to the mortgage business.”
The MSP mortgage servicing system, used to service roughly 36 million energetic loans, is an end-to-end answer that helps each first mortgages and residential fairness loans and features of credit score on the identical system. The scalable system can accommodate nearly any dimension portfolio and encompasses all facets of servicing – from fee processing to escrow administration, customer support, default administration and extra – and affords complete performance to assist servicers’ regulatory necessities.
Servicing Digital – seamlessly built-in with MSP – is an interactive, user-friendly net and cell answer that gives customized, well timed data to clients about their mortgage loans and houses. Prospects can use the answer to evaluate their residence and mortgage data; make mortgage funds on-line; and discover alternatives for buying a house, refinancing, or taking out a house fairness mortgage. Out there as a responsive net design or as a local cell app, Servicing Digital will assist TMS deepen buyer relationships, improve service and enhance satisfaction.
Loss Mitigation can be built-in with MSP and offers TMS with complete, end-to-end loss mitigation assist. The answer assists servicers with correct, well timed details about the borrower help course of, whereas creating an audit path to trace compliance with regulatory necessities. Loss Mitigation additionally offers all stakeholders the identical perception into the borrower’s standing.
TMS at the moment makes use of Black Knight’s suite of default capabilities, together with Chapter, Foreclosures, Invoicing and Claims options to assist lower cycle instances, cut back prices, mitigate threat and enhance working efficiencies with the administration of non-performing loans.
“Black Knight is deeply dedicated to delivering premier expertise options with distinctive, educated service to our shoppers,” mentioned Black Knight President Joe Nackashi. “We’re happy to be increasing our relationship with an modern mortgage business chief and sit up for supporting TMS with modern capabilities that elevate its subservicing enterprise to the subsequent degree.”
The Cash Supply Inc.(TMS) is a special type of firm that does enterprise in a special type of method. Based in 1997, with a mission to Develop Happiness, TMS is a quick rising fintech firm that gives merchandise, expertise, pace of service and a singular buyer expertise to debtors, shoppers and workforce members of their pursuit of happiness. With greater than 600 workforce members, TMS is a nationwide lender and servicer licensed or exempt from licensing in all 50 states and the District of Columbia. For extra data, go to TheMoneySource.com.
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software program, information and analytics firm that drives innovation within the mortgage lending and servicing and actual property industries, in addition to the capital and secondary markets. Companies leverage our sturdy, built-in options throughout your entire homeownership life cycle to assist retain current clients, achieve new clients, mitigate threat and function extra successfully.
Our shoppers depend on our confirmed, complete, scalable merchandise and our unwavering dedication to delivering superior shopper assist to realize their strategic objectives and higher serving their clients. For extra data on Black Knight, please go to www.blackknightinc.com.
SOURCE Black Knight, Inc.
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