Union Home Mortgage Selects MSP, Black Knight’s Industry-Leading Servicing System and Integrated Consumer-Centric Solutions
- Union Home Mortgage has selected MSP, Black Knight’s comprehensive, end-to-end system that supports all aspects of loan servicing, from loan boarding to default
- The MSP servicing system will help Union Home Mortgage deliver a world-class, personalized customer experience, while gaining operational efficiencies and mitigating risk
- Union Home Mortgage has also selected the following Black Knight solutions, which are integrated with the MSP system: the consumer-focused Servicing Digital and Customer Service solutions; Black Knight’s suite of default solutions, including Loss Mitigation; the Actionable Intelligence Platform for strategic, proactive and actionable analytics; and will use McDash industry reports for mortgage performance data
- The seamless integration of these additional capabilities with the MSP system demonstrated to Union Home Mortgage that Black Knight is continuing to deliver on significant investments in advanced servicing technologies and was a key factor in its decision to select Black Knight as its provider
JACKSONVILLE, Fla. – Aug. 25, 2022 – Black Knight, Inc. (NYSE:BKI) announced that Union Home Mortgage, a high-growth independent mortgage banking company with over 150 branches across the U.S., has selected the Black Knight MSP loan servicing system to support its servicing operations. After a thorough assessment of multiple servicing technologies in the mortgage industry, Union Home Mortgage chose Black Knight’s innovative solutions as the optimal choice to help the company enhance the customer experience, boost operational efficiencies and help manage regulatory requirements.
Used by financial institutions to service approximately 37 million active loans, MSP is a comprehensive, end-to-end system that supports all aspects of servicing for first mortgages, as well as home equity loans and lines of credit, on a single platform. MSP is used to service more loans than any other servicing system in the industry.
“After a diligent search for a high-performance system and solutions that could support our operational and customer service goals, we decided to go with Black Knight for its unmatched combination of leading solutions and an experienced support team with in-depth knowledge of both the technology and mortgages,” said Bill Cosgrove, president and CEO of Union Home Mortgage. “Through its continued investments in MSP and digital innovations, Black Knight has demonstrated their dedication to advancing mortgage servicing for the benefit of lender clients and their mortgage customers.”
In addition to MSP, Union Home Mortgage will implement the Servicing Digital solution, which gives customers self-service access to customized, timely information about their mortgages and homes. This powerful application supports deeper consumer relationships and engagement by giving customers the tools they need to make mortgage payments and explore opportunities for home equity products, refinancing and more – all from the convenience of the web or a mobile device.
Union Home Mortgage’s support representatives will also use the innovative Black Knight Customer Service solution to access a detailed, holistic and timely view of the key information needed to deliver exemplary service at the point of customer contact. The solution presents a customer’s loan, home and neighborhood information through an intuitive, easy-to-use graphical interface – helping representatives respond to customer questions more quickly, accurately and efficiently.
Since Union Home Mortgage is implementing both Customer Service and Servicing Digital, the company’s support representatives will have a view of what homeowners are seeing when they contact customer service, facilitating an even more productive and enriching conversation. Customer Service and Servicing Digital were developed with a cloud-first approach, so Union Home Mortgage can deliver innovative, secure and scalable solutions to their customers to support their evolving digital needs.
To help streamline default processes, Union Home Mortgage will also add Black Knight’s suite of default solutions to help reduce cycle times, decrease operating costs and improve efficiencies for nonperforming loans. This includes Loss Mitigation, a feature-rich, web-based solution that supports industry-standard retention and liquidation workouts to assist with streamlining operations and mitigating risk. Loss Mitigation leverages advanced rules and logic to guide users through processes step-by-step, including validation points throughout the workflow.
Union Home Mortgage is also taking advantage of several servicing-focused data and analytics solutions from Black Knight, including the Actionable Intelligence Platform, which delivers strategic, proactive and actionable analytics to the right people across an organization at the right time for meaningful insights on which actions to take next. Additionally, the company will leverage Black Knight McDash industry reports, which provide delinquency and prepayment overviews, roll rates, and state-level mortgage performance data. These reports are used to support benchmarking and analysis, portfolio management, strategy development and more.
“We welcome Union Home Mortgage to the Black Knight family, and we are committed to going above and beyond with our efforts to support their success,” said Joe Nackashi, CEO of Black Knight. “By investing in both MSP and multiple other Black Knight premier solutions, Union Home Mortgage will be able to realize even greater advantages to take their operations and customer experience to the next level.”
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
About Union Home Mortgage
Union Home Mortgage Corp. (UHM) is a high-growth, full-service retail, wholesale and consumer direct independent mortgage banking company with over 150 branches across the U.S. For eight consecutive years, UHM has been awarded a Top Workplace. With a world-class culture that stands out in the mortgage industry, UHM Partners (employees) are guided by a Code of Conduct that emphasizes respect, open communication and accountability. UHM is an approved direct lender of Fannie Mae, Freddie Mac, FHA, VA, USDA and other conforming and non-QM loan products, with over $13 billion in responsible lending per year.