- With the MSP servicing system, FirstBank gains a proven technology to help the bank increase operational efficiencies and support its efforts to remain compliant with regulatory requirements.
- MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default.
- FirstBank is also using capabilities from Black Knight’s new Actionable Intelligence Platform to help proactively manage risk and improve decision-making on monthly prepayment and delinquency trends.
JACKSONVILLE, Fla. – Nov. 16, 2018 – Black Knight, Inc. (NYSE:BKI) announced today that FirstBank, the nation’s third-largest privately held bank, has successfully implemented MSP, Black Knight’s industry-leading servicing system, which supports both first mortgages as well as home equity loans and lines of credit. FirstBank is now using this comprehensive, unified platform to manage all of its mortgage servicing processes, including loan boarding, payment processing, escrow administration, default management and more. MSP currently services more than 34 million active loans across the U.S. – more than any other servicing system on the market.
“We’re pleased about our MSP system implementation, and are looking forward to this system supporting FirstBank’s strong commitment to compliance initiatives and customer support,” said Rob Chaney, president of loan operations for FirstBank. “We believe the MSP system will provide our customers and employees with an exceptional servicing experience.”
FirstBank has also begun using several servicing-focused analytics from Black Knight’s new Actionable Intelligence Platform (AIP). AIP delivers actionable intelligence to help generate and protect revenue, improve efficiency and performance, and support vital compliance initiatives by putting the right information in front of the right people at the right time. As a result, everyone – at every level of the enterprise – knows what their next step should be, based upon thorough and expert analysis of the data at hand. FirstBank will use the AIP to help monitor portfolios and receive real-time alerts on critical lien-related indicators, and provide insight into monthly prepayment and delinquency trends.
“MSP’s innovative capabilities offer significant advantages to FirstBank’s servicing operations and provide both the proven technology and insightful actions to drive greater operational excellence,” said Black Knight President Joe Nackashi. “Our MSP system will also elevate FirstBank’s ability to enhance the customer experience with industry-leading capabilities and actionable analytics.”
About FirstBank
FirstBank operates more than 115 locations in Colorado, Arizona and California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 750,000 customers. Since 2000, FirstBank has contributed more than $57 million and thousands of volunteer hours to charitable organizations. FirstBank is unique in that a majority of its stock is owned by management and employees. For more information, go to efirstbank.com.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.