Black Knight, Inc. 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, the companies announced in a release.
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 industry-leading system is used to service more than 34 million active loans and helps servicers streamline operations, reduce operating costs and improve risk mitigation, the release said.
“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,” Home Point Financial President/CEO Willie Newman said in the release. “Adding these servicing and default capabilities will help us drive operational efficiencies, accommodate our expanding loan portfolio and support our regulatory compliance efforts.”
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,” Black Knight President Joe Nackashi said. “By delivering on these implementations, Black Knight is helping Home Point Financial perform stronger in today’s competitive marketplace.”