State Employees’ Credit Union (SECU), the second largest credit union in the U.S., has signed a contract to use MSP, Black Knight Inc.’s mortgage loan servicing system.
SECU will also use Black Knight’s cloud-native Customer Service solution, which will give SECU support representatives access to detailed, holistic and timely information at the point of member contact. Seamlessly integrated with MSP, the solution presents customer service representatives with the relevant loan, home and neighborhood information they need through an intuitive, easy-to-use graphical interface.
For more streamlined default processes, SECU will also add Black Knight’s suite of default solutions to help reduce cycle times, decrease operating costs and improve efficiencies when servicing nonperforming loans. This includes Loss Mitigation, a feature-rich, web-based solution that supports industry-standard retention, collections and liquidation workouts to help improve operations and mitigate risk.
SECU is also taking advantage of several servicing-focused data and analytics solutions from Black Knight, including the Actionable Intelligence Platform and McDash industry reports.
“Our members count on us to deliver the most advanced technology, and we work tirelessly to exceed their expectations,” says Jim Hayes, president and CEO of SECU. “Our selection of MSP and integrated solutions was guided by our commitment to our current and future members, as Black Knight is the industry leader in innovative mortgage technology.”
With the addition of SECU, Black Knight now provides servicing solutions to the nation’s three largest credit unions, as well as several other credit unions and credit union service organizations.
