Black Knight Financial Services Inc. reports that it has integrated its Lien Alert portfolio monitoring tool with its LoanSphere MSP servicing system.
That means servicers using MSP can get automatic notifications about changes in the status of properties in their loan portfolios – including when liens have been placed on those properties.
Black Knight’s MSP is a complete loan servicing system that handles all servicing processes – from loan boarding and payment processing, to escrow administration, default management and more.
The alerts that a client gets via Lien Alert can be set to their own unique rules, including the frequency with which the alerts are received.
In addition, the system can be programmed to trigger automated tasks once an alert is received. This helps servicers automate workflows, which can be organized based on the type of alert and steps required.
Servicers can choose to have specific loans or entire portfolios monitored.
Alerts can be created for the following:
- Tax delinquency;
- Payment shock due to adjustable-rate mortgage reset;
- Value changes;
- Lien status changes;
- New mortgages recorded;
- Ownership and occupancy changes;
- MLS listings; and
- Involuntary liens and judgments.
In a release, Joe Nackashi, president of Black Knight’s Servicing Technologies, says this integration gives servicers the early, critical lien warning notifications they need to enhance decision-making and take timely actions to proactively protect the properties securing their portfolios.