First Interstate Bank, a $12 billion community bank with more than 120 banking offices across Idaho, Montana, Oregon, South Dakota, Washington and Wyoming, has renewed its subscription for LoanSphere MSP, Black Knight’s mortgage servicing system, for another three years.
The bank has been using MSP for 35 years. It uses the current version to service first mortgages, home equity loans and home equity lines of credit.
In fact, the bank uses MSP to manage all of its mortgage servicing processes, including loan boarding, payment processing, escrow administration, default management and more, Black Knight says in a release.
As part of its renewal, First Interstate Bank will implement Black Knight’s Lien Alert solution, which monitors loans and provides automatic alerts on critical lien-related indicators that could impact a servicer’s business, such as foreclosure/default activity, ownership changes, new loans recorded, ARM resets and more.
In addition, the company will use Black Knight’s Portfolio Overview Insight solution, which leverages both Black Knight’s LoanSphere Data Hub technology and the LoanSphere Motivity enterprise business intelligence tool.
The Data Hub collects, links and stores loan data from client applications, Black Knight technologies and industry data in a central location. Meanwhile, the Motivity solution offers on-demand, dynamic reporting that servicers can use to quickly view detailed information about their servicing portfolio without printing a report or opening a file.