Old National Bank, a regional bank with more than 150 retail branches and headquartered in Evansville, Ind., recently migrated its mortgage portfolio to Black Knight’s LoanSphere MSP system, an end-to-end solution that encompasses all aspects of servicing, including loan boarding, payment processing, escrow administration and default management.
“We needed to replace our previous servicing platform with a solution that would allow us to better manage our mortgage portfolio, support our growth initiatives, and deliver valued experiences to our clients,” says Dean Happe, senior vice president, operations director at Old National Bank, in a release. “It was critical for us to improve back-office operations to better support compliance requirements, as well as manage internal processes to handle our projected business growth, and enhance our service delivery. Black Knight had the proven system we were looking for.”
The MSP system, which is used to service approximately 34 million active loans nationwide, provides a single platform for servicing both first mortgages and home equity lines and loans.
Old National Bank will use the system to take advantage of new revenue opportunities for its expanding company.
In addition, Old National Bank will use LoanSphere Loan Boarding to board mortgage loans to MSP. It will also use Customer CareNet, a Web-based consumer portal enabling servicers to offer borrowers instant online access to their mortgage and home equity loan information.
