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HomeStreet Bank Signs Five-Year Renewal for LoanSphere MSP Servicing System

Agreement continues nearly 45-year relationship with Black Knight

HomeStreet Bank Signs Five-Year Renewal for LoanSphere MSP Servicing System
  • HomeStreet Bank signed a five-year renewal for LoanSphere MSP to support its servicing business.
  • HomeStreet Bank also went live on LoanSphere Invoicing, a web-based invoice management solution that automates the default billing and invoice process.
  • HomeStreet Bank is one of Black Knight’s longest-standing clients.

JACKSONVILLE, Fla. – Dec. 19, 2017 – Black Knight, Inc. (NYSE:BKI) announced today that HomeStreet Bank, a mortgage banking subsidiary of HomeStreet, Inc. (Nasdaq:HMST), has signed a five-year renewal for Black Knight’s premier, industry-leading loan servicing system: LoanSphere MSP. This comprehensive, end-to-end solution encompasses all aspects of servicing – from loan boarding to default – for first mortgages and home equity loans. The MSP system is used to service more than 33 million active loans and helps servicers increase operational efficiency, reduce operating costs and improve risk mitigation.

“At HomeStreet, our customers are our number-one priority. The work that Black Knight has been doing to enhance and innovate MSP has helped to advance our consumer offerings, which in turn helps us provide additional capabilities and superior support to our customers,” said Marlene Price, senior vice president, loan servicing director for HomeStreet Bank.

HomeStreet Bank has also implemented Black Knight’s LoanSphere Invoicing technology, a web-based invoice management solution that consolidates invoice process tasks – from bill presentment and processing to post-payment activities. By creating an entirely electronic process, LoanSphere Invoicing can help servicers realize faster, easier and more cost-effective payments on invoices. LoanSphere Invoicing is part of Black Knight’s comprehensive Default Solutions suite, which uses advanced workflow and user-defined rules to help servicers more effectively manage default-related servicing processes.

“We are proud to continue supporting HomeStreet with the industry’s leading servicing system and our innovative invoicing technology,” said Joe Nackashi, president of Black Knight. “As a premier fintech, we are committed to pioneering advanced capabilities that will help transform the mortgage industry, so clients can gain optimal results and meet ever-changing consumer needs for a more digital servicing experience.”

About HomeStreet, Inc.

Now in its 97th year, HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington and is the holding company for HomeStreet Bank, a state-chartered, FDIC-insured commercial bank. HomeStreet offers consumer, commercial and private banking services and investment and insurance products, and originates residential and commercial mortgages and construction loans for borrowers located in the Western United States and Hawaii. Additional information on HomeStreet Bank can be found at www.homestreet.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 lifecycle.

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.

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