Black Knight's MSP loan servicing system aims to help servicers operate more efficiently while reducing costs – HousingWire

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MSP is used to service approximately 36 million loans
For more than 50 years, the Black Knight MSP loan servicing system has been helping power servicing operations from loan boarding, payment processing and escrow administration to investor reporting, compliance management, default processing and more.
MSP is a single, comprehensive platform used by servicers of all sizes to support a wide range of loan products, including first mortgages and home equity loans and lines of credit on a single system.
“MSP is used to service approximately 36 million loans,” Black Knight President Joe Nackashi said. “Thanks to the system’s scalability, it’s suited for portfolios of all sizes. In fact, 42% of MSP clients service fewer than 50,000 loans.”
As rising interest rates impact origination volumes, competition for purchase refinance consumers grows increasingly fierce. As a result, servicers must be critically focused on their customer retention strategies.
The MSP system is integrated with several tools that can help servicers boost retention, including Black Knight’s Customer Service solution. Using this single application, representatives have access to customer information that is required to address borrower questions quickly, leading to faster call resolutions.
Furthermore, MSP integrates with Black Knight’s Servicing Digital solution to provide customers quick, convenient access to their loan and property-related information from the convenience of any device. Offered as a mobile app and web solution, Servicing Digital delivers the self-service capabilities today’s consumers want, helping servicers amplify customer experience and retention efforts. By giving customers the power to perform tasks and access loan, home and property information on their own, Servicing Digital helps reduce workload and stress on busy servicing operations.  
MSP also supports retention with its integration  with Capture, Black Knight’s lead analytics solution that proactively monitors portfolios for loans that could benefit from refinance based on a customer’s specific equity position and/or current first-lien rate. Using the lender’s current pricing and most up-to-date market and margin structure, Capture helps generate accurate, borrower-specific pricing scenarios.
Black Knight is committed to routine updates to the MSP system to help clients address their regulatory requirements. These continuous enhancements help servicers stay up-to-date with ever-changing federal regulations, supporting compliance and reducing risk.
MSP offers integrated default functionality that assists with loss mitigation, as well as foreclosure, bankruptcy, claims and invoicing processes. This functionality is particularly critical today, as servicers are helping their borrowers get back into an active payment status following the COVID-19 pandemic.
Servicers using MSP can maximize the team they have while reducing costs and operating at higher levels of efficiency. The system leverages capabilities including advanced decisioning, workflow, and integration tools to help users simplify and streamline processes and lower costs.
“Black Knight’s MSP loan servicing system together with all of the integrated capabilities delivers a comprehensive solution that our clients trust,” said Nackashi. “Black Knight is committed to advancing mortgage servicing with scalable, innovative solutions, backed by decades of financial stability and industry expertise.”
Anthony Jabbour, CEO
Anthony Jabbour leads the company’s overall vision and direction, and is passionate about delivering innovative solutions across the loan life cycle that help lenders and servicers retain existing customers, gain new customers and operate more efficiently.
Joseph Nackashi, President
Joseph Nackashi is responsible for helping Black Knight deliver integrated and innovative solutions that help transform the industry and is committed to superior client support and helping clients achieve greater levels of success.
Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity.

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