In order to move its mortgage loans from its current subservicing provider to be serviced in-house, New American Funding has signed up for a five-year subscription to Black Knight's Web-based mortgage servicing platform (MSP).
As per a press release, New American Funding is planning to expand its servicing portfolio over the next few years. By selecting a Web-based platform, it can pay just for the capacity it needs as it scales. Such is the hallmark of practically all cloud-based business software.
In addition, the lender-servicer will use Black Knight's Customer CareNet, Electronic Loan Interface, iDisburse and Invoice Management solutions, which come bundled with the platform or are available as stand-alone systems.
New American Funding is a Fannie Mae and Freddie Mac direct seller/servicer and is Federal Housing Administration Direct Endorsement/HUD Approved. The company is also a Veteran's Administration automatic mortgage lender.
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