The end-to-end solution, which is used to service 34 million active loans, encompasses all aspects of servicing, from loan boarding to default, for first mortgages and home equity loans and lines of credit.
In addition to implementing MSP, Lake Michigan Credit Union is also using Black Knight’s Actionable Intelligence Platform (AIP) to provide proactive intelligence that will benefit its servicing operation.
The AIP delivers strategic, proactive and actionable analytics to the right people across an organization at the right time, so they know what action to take next.
“MSP offers us a number of ways to increase our credit union’s operational efficiency and improve member service, while supporting our commitment to meet compliance requirements,” says Eric Burgoon, chief lending officer at Lake Michigan Credit Union, in a release. “MSP’s scalability will allow us to easily accommodate our expected growth.”
Employing a staff of over 1,200, Lake Michigan Credit Union’s assets exceed $5.8 billion, with a mortgage serviced portfolio of over $10 billion and over 415,000 members. It currently has 55 branch locations, including 10 in southwest Florida.