Black Knight Financial Services (BKFS) says that Webster Bank has agreed to continue its use of LoanSphere MSP, Black Knight’s loan servicing system.
According to BKFS, the MSP is a complete, scalable, end-to-end system used by financial institutions to manage all servicing processes on a single, comprehensive platform, including loan setup and maintenance, payment processing, escrow administration, investor reporting, regulatory requirements, default management, and more.
Webster Bank has been using MSP for over 12 years to help efficiently manage the company’s growth, as well as address regulatory requirements and deliver comprehensive support to its customers.
Webster Bank says it uses several of Black Knight’s default solutions, including LoanSphere Bankruptcy and Foreclosure, an enterprise workflow application to support the bankruptcy and foreclosure processes; and LoanSphere Invoicing, a Web-based solution that streamlines billing and invoicing. The company says both of these default solutions are integrated with the MSP system.
“We’re pleased that Webster Bank selected MSP for its extensive capabilities to help build a greater competitive advantage and improve risk mitigation,” says Joe Nackashi, president of Black Knight’s servicing technologies division.