Black Knight Financial Services says that 360 Mortgage, a privately owned mortgage banking company based in Austin, Texas, has signed a seven-year contract to implement MSP, Black Knight's mortgage and consumer loan servicing platform.
MSP, which manages all servicing processes, including loan boarding, payment processing and escrow administration, gives servicers the ability to meet all mortgage and consumer loan servicing needs for any size portfolio, says Black Knight.
Initially, 360 Mortgage Group is bringing its mortgage loans in-house from its subservicing provider to be serviced on MSP and expects the number of loans to double next year.
The company will also use two additional Black Knight solutions that are integrated with MSP: Electronic Loan Interface, which automates the loan setup and boarding process, and Customer CareNet, which gives borrowers instant online access to their mortgage information. It will also deploy TeleVoice, an interactive voice response system integrated with MSP, which provides borrowers with immediate and secure access to loan information.
Joe Nackashi, chief information officer and president of Black Knight's servicing and default technologies division, says the partnership will help support the expanding mortgage company's ‘aggressive growth plans.’