Iowa Bankers Mortgage Corp. (IBMC), an affiliate of the Iowa Bankers Association, has signed a contract to use Black Knight Inc.’s Black Knight MSP loan servicing system.
MSP is a comprehensive, end-to-end platform that supports all aspects of servicing – from loan boarding to default – for first mortgages, as well as home equity loans and lines of credit, on a single system. Currently, the MSP system services approximately 37 million active loans.
In addition to the MSP system, IBMC will leverage several other Black Knight solutions to support its continued growth and focus on the customer experience.
“At IBMC, we are committed to serving the expanding needs of our banks and homeowners,” says Dan Vessely, president of IBMC. “As our company supports a growing number of customers, it’s increasingly important to have an established relationship with a trusted technology provider. We’re pleased to have Black Knight and its proven software and expertise on our side as we move forward.”
IBMC’s support representatives will also leverage the Black Knight Customer Service solution, which presents a customer’s loan, home and neighborhood information. Customer service is seamlessly integrated with both the MSP system and Black Knight’s Servicing Digital solution, which is an interactive web and mobile solution for consumers that provides access to customized, timely information about mortgages and homes.
To streamline default processes, the company is adding Black Knight’s full Default Suite of solutions to help reduce cycle times, decrease operating costs and improve efficiencies for nonperforming loans. This includes Loss Mitigation, a web-based solution that supports retention and liquidation workouts to help streamline operations and mitigate risk.
IBMC is also now using several servicing-focused data and analytics solutions from Black Knight, including the Actionable Intelligence Platform and Black Knight’s McDash industry reports.
“Black Knight recognizes that Iowa Bankers Mortgage Corporation is committed to strong relationships – from those it builds with local customers, to those it establishes with providers and third parties,” comments Joe Nackashi, president of Black Knight. “It’s a privilege to serve as one of these trusted and valued providers and an honor to supply the innovations that will help IBMC do even more for its customers.”