- Five-year contract includes use of MSP, Customer CareNet, Electronic Loan Interface, iDisburse and Invoice Management.
- MSP offers scalability to accommodate the servicing growth New American Funding is projecting.
- Servicing system supports mortgage industry regulatory changes and federal requirements.
JACKSONVILLE, Fla. – July 29, 2014 – Black Knight Financial Services announced today that New American Funding has signed a five-year contract to implement MSP®, Black Knight’s industry-leading mortgage and consumer loan servicing platform, to support New American Funding’s growing servicing business. MSP, a complete, end-to-end system used by financial institutions to manage all servicing processes, including loan boarding, escrow administration, investor reporting and more, gives servicers the ability to meet all mortgage and consumer loan servicing needs for any size portfolio.
New American Funding is moving its mortgage loans from its current sub-servicing provider to be serviced in-house on MSP. The MSP platform provides significant scalability that can easily support New American Funding’s planned expansion of its servicing portfolio over the next few years. New American Funding is a Fannie Mae Direct Seller/Servicer, a Freddie Mac Direct Seller/Servicer, has FHA Direct Endorsement – HUD Approved, and is a VA automatic mortgage lender. The company will also use additional Black Knight solutions that are integrated with MSP, including:
- Electronic Loan Interface to automate the loan setup process.
- Customer CareNet™
to provide an online solution that gives New American Funding borrowers instant access to their mortgage information.
- iDisburse™, a fully automated check-printing solution for reviewing, printing and auditing disbursements.
- Invoice Management™, which offers a Web-based solution that streamlines billing and invoicing processes.
“With Black Knight’s powerful technology capabilities, we are confident that the decision to bring our servicing in-house will help us expand our mortgage business,” said Christy Bunce, chief operating officer for New American Funding. “The proven stability and functionality of MSP, along with Black Knight’s commitment to helping improve compliance and risk management, will help position us for greater operational success.”
“We are eager to support the growth of New American Funding’s expanding servicing business,” said Joe Nackashi, CIO and president of Black Knight’s Servicing and Default Technologies division. “With our single, scalable servicing platform, Black Knight Financial Services can help New American Funding achieve their immediate and long-term goals for growth, increased efficiency, effective risk management and improved customer service.”
About Black Knight Financial Services, LLC
Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries’ leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage life cycle.
Black Knight Financial Services is committed to being the premier business partner that lenders and servicers rely onto achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.