JACKSONVILLE, Fla., Feb. 22, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that Cenlar FSB, the nation's leading residential mortgage subservicer, has renewed its contract to continue using Black Knight's industry-leading MSP loan servicing system, in addition to Black Knight's innovative Servicing Digital and default solutions.
"Black Knight is a trusted strategic partner with a deep understanding of Cenlar's business operations and is dedicated to supporting our future needs," said Robert Lux, chief operating officer of Cenlar. "Black Knight's commitment to investing in solutions that benefit our business, along with their industry- leading servicing solutions, have supported our operations, and their solutions easily scale to accommodate our business as it has expanded."
The MSP servicing platform offers a robust and scalable end-to-end loan servicing system that helps clients manage all servicing processes, including loan onboarding, cash management, investor reporting, loss mitigation and default. The system can accommodate virtually any size portfolio and is augmented by award-winning client support. Used to service approximately 37 million active first mortgages and home equity loans across the U.S. on one unified platform, MSP helps servicers increase operational efficiency, reduce operating costs and improve risk mitigation.
Integrated with MSP is Black Knight's Servicing Digital solution, which enables homeowners to easily perform tasks and view information related to their mortgages through a simple, user-friendly interface, while providing a platform for continual engagement between servicers and their customers. The innovative, consumer-centric solution delivers useful information specific to an individual's mortgage, property and local housing market by accessing the servicer's data through the MSP system, as well as the company's industry-leading property records database, advanced analytics and automated valuation models.
Cenlar also uses Black Knight's suite of default capabilities, including Bankruptcy, Foreclosure, Invoicing and Claims solutions to help decrease cycle times, reduce costs, mitigate risk and improve operating efficiencies with the management of non-performing loans.
"Cenlar is a valued, long-standing client of Black Knight, and we are proud to continue supporting the organization's growth through all stages with our integrated solutions and innovative capabilities," said Joe Nackashi, president of Black Knight and its Servicing Technologies division. "It's a privilege to serve the Cenlar organization, and we are committed to providing advanced solutions to meet its needs, both now and in the future."
About Cenlar FSB
Cenlar FSB is a federally chartered, employee-owned wholesale bank, servicing loans in 50 states and its U.S. territories. As the nation's leading subservicer, Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers. Our nearly 4,000 employees, strategically located throughout the United States, are dedicated to customer satisfaction and teamwork that drives client solutions that are unparalleled in quality, flexibility and innovation. Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties. For more information about Cenlar, visit www.cenlar.com
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
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SOURCE Black Knight, Inc.