Mortgage lender PNC Bank NA has renewed its subscription for Black Knight Financial Services' LoanSphere MSP servicing system for seven more years and will now start servicing home equity loans using the revamped platform.
PNC is consolidating its technology onto one servicing platform for mortgages and home equity loans to improve efficiency and risk management, Black Knight says in a release.
PNC uses the all-in-one platform for loan boarding, payment processing, escrow administration, default management and more. The bank also uses Black Knight solutions to support bankruptcy and foreclosure processes; invoicing; integration and collaboration with service providers; and to access insightful data and analytics.
