- Lake Michigan Credit Union is using the MSP servicing system to help increase operational efficiency and support the expansion of its servicing business.
- The credit union has also deployed several data and analytics solutions from Black Knight's new Actionable Intelligence Platform.
- MSP is used to service over 34 million active loans and supports both first mortgages and home equity products on one unified system.
JACKSONVILLE, Fla., Oct. 24, 2018 /PRNewswire/ -- Black Knight, Inc. (BKI) announced today that Lake Michigan Credit Union, the largest credit union in Michigan and growing in Florida, successfully implemented MSP, Black Knight's premier loan servicing system. This comprehensive, end-to-end solution encompasses all aspects of servicing – from loan boarding to default – for first mortgages and home equity loans and lines of credit. MSP is used to service 34 million active loans and helps servicers increase operational efficiency, reduce operating costs and improve risk mitigation.
In addition to implementing MSP, Lake Michigan Credit Union is also using Black Knight's Actionable Intelligence Platform (AIP) to provide proactive intelligence that will benefit its servicing operation. The AIP delivers strategic, proactive and actionable analytics to the right people across an organization at the right time, so they know what action to take next.
"MSP offers us a number of ways to increase our credit union's operational efficiency and improve member service, while supporting our commitment to meet compliance requirements," said Eric Burgoon, Chief Lending Officer of Lake Michigan Credit Union. "MSP's scalability will allow us to easily accommodate our expected growth."
"We are excited that Lake Michigan Credit Union has selected Black Knight to support its growing business. As a leading mortgage software provider, we've made significant investments to further innovate our servicing system, which offers our clients many compelling advantages to optimize their servicing operations and mitigate risk," said Black Knight President Joe Nackashi. "Integrating Black Knight's comprehensive analytics with our MSP technology will help Lake Michigan Credit Union prepare its business for the future of the mortgage industry."
About Lake Michigan Credit Union
Lake Michigan Credit Union is the largest credit union in Michigan. Employing a staff of over 1,200, LMCU's assets exceed $5.8 billion, with a mortgage serviced portfolio of over $10 billion and over 415,000 members. LMCU has 55 convenient branch locations overall, including ten in southwest Florida. LMCU members have access to over 55,000 AllPoint ATMs worldwide. LMCU provides a full-range of financial services, from high interest-bearing checking accounts to personal loans, mortgages, investments and commercial banking.
To find out more, visit LMCU.org.
About Black Knight
Black Knight (BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.
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