Review the features below to learn how Mortgage Servicer ® can benefit your company. For more information about our mortgage servicing software or to schedule a FREE DEMO, call 972.458.8583 or email info@fics.com to request a brochure. Description This course is intended to provide an overview and direction in how to navigate Mortgage Servicing Platform (MSP) and where to find specific information within the system. This course is intended for all employees at CRFS. This system is used by servicers to house servicing information on mortgage loans.
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The COMPANY
Black Knight is a leading provider of integrated software, data and analytics to the mortgage and consumer loan, real estate and capital markets verticals. For mortgage servicers, the company provides proven, reliable and comprehensive solutions that support all aspects of servicing and default – from loan boarding to disposition.
Black Knight’s solutions help its clients address regulatory requirements, and enable servicers of all sizes to better manage and mitigate risk, realize greater efficiencies and drive improved financial performance.
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The core of Black Knight’s servicing solutions is LoanSphere MSP — the mortgage industry’s leading servicing system — which supports all sizes of portfolios, loan types and processes. The system automates all areas of loan servicing, including setup and maintenance, customer service, cashiering, escrow administration, investor accounting and default management.
Msp Mortgage Servicing Platform
The broad-based functionality of MSP supports a wide range of loan products, including fixed-rate mortgages, adjustable rate mortgages, construction, home equity loans and lines of credit, and biweekly and daily simple-interest loans.
The highly secure and reliable system has a proven track record — it has been on the market for more than 50 years and currently helps servicers manage over 33 million active loans every day.
“MSP delivers tremendous benefits to our clients, helping them improve performance and efficiencies, and better manage risk,” said Joe Nackashi, Black Knight’s president. Add special points fallout 4. “In addition, the system is continually enhanced to provide the advanced capabilities, functionality and support, as well as the innovation servicers need to compete in an ever-changing market.”
Integrated with MSP are Black Knight’s suite of LoanSphere default solutions, which include: LoanSphere Loss Mitigation, LoanSphere Bankruptcy, LoanSphere Foreclosure, LoanSphere Claims and LoanSphere Invoicing.
“Black Knight provides a comprehensive suite of technologies tailored for servicing non-performing loans,” said Nackashi. “Not only do they greatly streamline default processing, but also deliver end-to-end support via integration with MSP. No other provider can match the broad spectrum of solutions to support servicers across the loan lifecycle.”
All of Black Knight’s servicing and default solutions support evolving regulatory requirements and provide an audit trail of activities occurring on the loan to help with compliance reviews.
The company invests in its technologies to deliver innovative products with superior capabilities. The company is focused on delivering integrated, data driven and intelligent solutions that enhance automation and support clients’ digital strategies.
In addition, Black Knight sees great opportunity in its enterprise business intelligence platform, which enables servicers to take advantage of the vast amount of data they possess not only within their servicing operations, but also across their organization.
Using a client’s loan data, Black Knight now has the ability to link it with public records information and proprietary industry data to provide servicers with unsurpassed views into their operations, helping turn information into opportunities for revenue, growth and risk mitigation.
“Our solutions can provide access and deeper insight into data at any point in the loan lifecycle — from prospect capture to final mortgage disposition,” Black Knight CEO Tom Sanzone said. “Our innovative business intelligence technology can help make data easier to view, understand and act upon, getting the right data to the right person at the right time.”
The EXECUTIVES
Tom Sanzone, CEO
Tom Sanzone has more than 30 years of experience in the financial services industry. Prior to joining Black Knight, Sanzone was executive vice president at Booz Allen Hamilton. He has also served as chief administrative officer at Merrill Lynch and as chief information officer for Credit Suisse and Citigroup.
Joe Nackashi, President
Joe Nackashi has more than 25 years of experience providing innovative technology solutions to the financial services industry. Previously, he served as chief information officer and head of the servicing solutions division of Lender Processing Services.
| Financial services | |
| Traded as | NYSE: BKI Russell 1000 Component |
|---|---|
| Founded | Florida, USA October 27th, 2014[1] |
| Headquarters | 601 Riverside Avenue, Jacksonville, Florida, USA |
| William P. Foley II, Executive Chairman Anthony Jabbour, CEO Anthony Orefice, EVP and COO Kirk T Larsen, EVP and CFO Shelley Leonard, EVP and CPO | |
| Website | www.blackknightinc.com |
Black Knight, Inc., formerly known as Black Knight Financial Services, is an American corporation that provides integrated technology, services, data and analytics to the mortgage and real estate industries. On January 3, 2014, Fidelity National Financial acquired Lender Processing Services (LPS) and renamed it to Black Knight Financial Services. On October 2, 2017, upon the completion of a distribution by Fidelity National Financial of its equity interest in Black Knight Financial Services, Inc., the company rebranded as simply Black Knight (NYSE: BKI).
History[edit]
The mortgage business segment of Fidelity National Information Services was spun off in 2008 to become a fully independent, publicly traded company on the New York Stock Exchange, trading under the symbol LPS[2][3] Jeffery Carbiener, Executive Vice President and Chief Financial Officer of Fidelity National Information Services at the time of the divide, became the first President and Chief Executive Officer of LPS.
The 2010 robo-signing scandal exposed questionable behavior on the part of employees of a small subsidiary of the company. In addition to the federal government, states such as Nevada filed legal proceedings against these employees.[4] The investigation of these business practices were featured in an episode of 60 Minutes.[5] Eventually LPS settled with the federal government and other states and ceased operations of the problematic subsidiary.[6] Some controversy surrounded the resignation of two attorneys who had investigated LPS as part of their work for Florida's Economic Crime Division, as they claimed to have resigned under pressure from Attorney General Pam Bondi, who had received campaign contributions from LPS.[7]
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Msp Mortgage Servicing System User Manual Format
On March 14, 2011, the Company's subsidiary, LPS Mortgage Processing Solutions, Inc., acquired PCLender.com, Inc. (PCLender.com).[8] In May 2012, Constellation Software Inc. acquired the assets of the Local Government Solutions division of the Company.[9] In July 2012, the Company acquired LendingSpace, a provider of mortgage loan origination software.[10]
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On October 5, 2011, LPS named Hugh Harris President and CEO. Prior to coming to LPS, Harris served as President of the Financial Services Technology division at Fidelity National Financial and Fidelity National Information Services. Before joining Fidelity National Financial, Harris was President and CEO of HomeSide Lending, Inc., where he was responsible for one of the world's largest full-service mortgage companies.[11]
On January 3, 2014 LPS was renamed Black Knight Financial Services after being acquired by Fidelity National Financial, which was ranked #314 among Fortune 500 Companies in 2015.[12] LPS product offerings support origination, servicing, portfolio retention and default servicing. Its offerings include LoanSphere MSP, a mortgage loan servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume.[13] The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries. LPS was a Fortune 500 company headquartered in Jacksonville, Florida, previously employing approximately 8,000 professionals.[14]
On October 2, 2017, upon the completion of a distribution by Fidelity National Financial of its equity interest in Black Knight Financial Services, Inc., the company rebranded as simply Black Knight[15] and began trading under the NYSE symbol BKI (NYSE: BKI). In August 2018, Black Knight launched LoanSphere Actionable Intelligence Platform to provide lenders with actionable intelligence.[16][17]
Msp Loan Servicing System
On April 1, 2018, Anthony Jabbour was named CEO of Black Knight.[18] Jabbour had most recently been chief operating officer of Fidelity National Information Services’ banking and payments business.
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On November 04, 2019, Black Knight took the unprecedented step of taking legal action against one if its clients, PennyMac Financial Services for breach of contract and misappropriation of trade secrets. [19] Within 24 hours, PennyMac had filed a retaliatory lawsuit against Black Knight for alleged anti-competitive practices.[20] The PennyMac case has since been moved from the California court in which the mortgage lender and servicer had filed suit and to Florida, where Black Knight had filed the original complaint.
References[edit]
- ^'Archived copy'. Archived from the original on 2017-01-09. Retrieved 2017-01-08.CS1 maint: archived copy as title (link)
- ^'Fidelity National Information Services' Spin off to be Named Lender Processing Services'. Reuters. February 13, 2008.
- ^'Fidelity National Information Services' Spin off to be Named Lender Processing Services,..' Reuters. 2008-02-13. Retrieved 2012-11-08.
- ^'Nevada Sues Lender Processing Services Claiming Robo-Signing'. 2011-12-09.
- ^'Mortgage paperwork mess: Next housing shock?'. 2011-04-23.
- ^'Update 2-LPS settles U.S. foreclosure fraud criminal probe'. 2013-02-15.
- ^'Political notebook: Pam Bondi under fire after LPS-related resignations'.
- ^'LPS acquires PCLender to expand reach to small mortgage lenders'. housingwire.com.
- ^'Constellation Software Inc. Acquires Certain Assets of Lender Processing Services LLC'. Yahoo Finance. 4 May 2012.
- ^http://www.redorbit.com/news/technology/1112649955/lps_announces_acquisition_of_lendingspace
- ^'Archived copy'. Archived from the original on 2011-10-08. Retrieved 2013-01-15.CS1 maint: archived copy as title (link)
- ^'Latest News Headlines - NASDAQ.com'. NASDAQ.com.
- ^'distressedassetdirectory.com'.
- ^'Fortune 500 2012: Fortune 1000 Companies 1-100'. CNN.
- ^'Black Knight Financial Service Rebrands as Black Knight'.
- ^'Black Knight launches new intelligence platform'. Retrieved 2018-09-05.
- ^'Black Knight Launches LoanSphere Actionable Intelligence Platform - MortgageOrb'. MortgageOrb. 2018-08-15. Retrieved 2018-09-05.
- ^'Black Knight names Anthony Jabbour CEO'.
- ^'Black Knight CEO Addresses Lawsuit with Former Customer PennyMac'. Retrieved 2020-03-27.
- ^'PennyMac Financial Services Files Antitrust Lawsuit Against Black Knight for Anticompetitive Behavior'. Retrieved 2020-01-08.