Bayview Loan Servicing LLC, a residential and small-balance commercial mortgage loan servicer headquartered in Coral Gables, Fla., has signed a five-year contract renewal for LoanSphere MSP, Black Knight Financial Services’ loan servicing system.
According to Black Knight, MSP is a complete, scalable, end-to-end system used by financial institutions to manage all servicing processes, including loan setup and maintenance, escrow administration, investor reporting, regulatory requirements, and more.
Bayview has been using MSP for six years to manage the company’s expanding loan portfolio and address evolving regulatory requirements. Bayview says that MSP’s scalability and capabilities can support its component servicing business and its full servicing operations.
In addition to MSP, Bayview uses several of Black Knight’s default solutions, including LoanSphere Bankruptcy and Foreclosure, an enterprise workflow application to support the bankruptcy and foreclosure processes; and LoanSphere Invoicing, a Web-based solution that streamlines billing and invoicing. Both of these default solutions are integrated with MSP.