Flagstar Bank has signed a contract extension to continue using the Black Knight MSP loan servicing system, a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default.
“Throughout our decade-long relationship with Black Knight, the MSP loan servicing system has proven to be the right platform for the evolving demands of our servicing and subservicing operations,” says Lee Smith, executive vice president and president of mortgage at Flagstar Bank. “The scalability and reliability of MSP continue to support our growing portfolios, and we appreciate Black Knight’s commitment to investing in and continuously enhancing the platform.”
Flagstar Bank has also renewed its contract to use Black Knight’s full suite of default solutions to help streamline processes for nonperforming loans and manage loss mitigation processes. The bank is a current user of Black Knight’s product, pricing and eligibility engine, as well as its marketing automation tool.
“Black Knight considers it a privilege to continue serving Flagstar Bank, a long-time and respected client, during its period of rapid growth,” mentions Joe Nackashi, CEO of Black Knight. “Our ongoing relationship is a testament to the strength and depth of the MSP loan servicing system, as well as our continued commitment to advance our solutions to support our valued clients and their customers.”