Black Knight Financial Services Streamlines Bayview Loan Servicing's Business Operations
JACKSONVILLE, FL: Black Knight Financial Services, a provider of integrated technology, data and analytics solutions for mortgage lifecycle management, announces that Bayview Loan Servicing has renewed a five-year contract for LoanSphere MSP.
LoanSphere MSP is a scalable, end-to-end loan servicing system that helps financial institutions manage servicing processes that include loan setup and maintenance, escrow administration along with investor reporting. Black Knight Financial Services’ MSP system has helped Bayview to proficiently expand its loan portfolio and address evolving regulatory compliance requirements.
LoanSphere MSP platform aims to significantly change the traditional business model for mortgage, home equity loans and lines of credit through business automation, risk management, configurable rules and integrated data. As a mortgage loan servicer, Bayview needed an end-to-end connectivity solution to enable efficient and accurate loan data exchange from function to function. LoanSphere MSP manages data exchange across the entire loan lifecycle without the need to rekey information in separate systems. The solution also drives decision-making capabilities and improves quality of processes.
In addition to MSP, Bayview uses LoanSphere Bankruptcy and Foreclosure— Black Knight's default enterprise workflow applications to support the bankruptcy and foreclosure processes. Bayview also streamlines its billing and invoicing processes through LoanSphere Invoicing, a web-based solution. LoanSphere Bankruptcy and Foreclosure are integrated with MSP.
“MSP and our default solutions deliver the automated workflow, features and functionality to support Bayview's servicing operations and strategic goals," says Joe Nackashi, President, Black Knight's Servicing Technologies division.