Black Knight Inc. says that on Jan. 1, the company completed all month-end, quarter-end and 2022 year-end processing for 93 clients and almost 57 million active and inactive loans that are serviced using Black Knight’s MSP loan servicing system.
“This talented Black Knight team, working with our valued clients, continues to execute year-end processing flawlessly, and it’s because of all the hard work and preparation they do months in advance for this important event,” says Joe Nackashi, CEO, Black Knight. “Our staff’s deep industry knowledge, system expertise and ability to exceed customer expectations with events like year-end processing are some of the many reasons why our clients continue to rely on Black Knight for exceptional servicing performance and support.”
Black Knight servicing clients are required to report prior-year account information to borrowers to meet governmental regulations for the Internal Revenue Service, the Department of the Treasury and other agencies, as well as to meet internal reporting requirements. To help clients meet these obligations, Black Knight employees from departments across the company must complete hundreds of tasks to help servicers compile loan information; generate exception and balancing reports; and create annual statements for borrowers – all culminating in a single day.
To provide additional support for its clients, Black Knight offers training in advance of the end of the year, so clients can complete the tasks necessary on their end for a smooth and timely year-end process.
For 2022, clients were given the option of receiving automatic email alerts when processing began and ended, so their staff didn’t need to wait up at night or log into the system to confirm when the work started and finished.
