For non-performing loans, Black Knight’s suite of innovative default solutions helps reduce cycle times, decrease operating costs and improve efficiencies.
Black Knight’s leading servicing system, MSP®, includes comprehensive functionality to manage non-performing loans. It is also fully integrated with Black Knight’s suite of default solutions.
MSP delivers a single, integrated platform for mortgage and home equity loans, and automates all areas of loan servicing. The system supports clients with portfolios of 7,000 loans to more than 9 million loans.
Servicing more than 34 million active loans in the U.S., MSP is proven to help:
Black Knight solutions help simplify the complex process for loans that move into default, while supporting servicers with their compliance requirements.
When loans go into default, servicers need to provide borrowers with timely loss mitigation assistance. Loss Mitigation℠ offers a comprehensive, end-to-end loss mitigation workflow and decisioning solution that creates an audit trail to show compliance with evolving regulations.
Replace a time-consuming, labor-intensive process with robust automation. Using workflow and configurable, rules-based technology, Bankruptcy℠ is a flexible, scalable solution that helps you:
Using Bankruptcy’s integration with Black Knight’s MSP® servicing system, loan data can be retrieved to produce approved U.S. Bankruptcy Court Proof of Claim (POC) forms:
Foreclosure℠ helps you:
Manage all types of claims and loss analysis functions with the automation of Black Knight’s Claims℠ application.
Consolidate invoice process tasks – from bill presentment and processing to post-payment activities – with Invoicing℠. By creating an entirely electronic process, Invoicing can help you:
Black Knight offers an Enterprise Business Intelligence platform that can help make portfolio data easier to access, understand and act upon.
Black Knight’s Portfolio Overview Insight provides powerful business intelligence that helps servicers more effectively monitor and manage default trends in their portfolio. Through real-time dashboards, key performance metrics and on-demand, interactive reporting, servicers gain greater portfolio visibility and critical insights.
Black Knight offers one of the most accurate, reliable and complete U.S. real estate databases in the industry. Our industry-leading data covers 99.9 percent of the U.S. population. This robust, current data offers unmatched depth, breadth and quality to help you manage risk, evaluate collateral value, understand the lien status of portfolio loans and access property/neighborhood information.
AFTSM Prepayment and Credit Model: Competing risk model for mortgages, loans, securities and portfolios that forecasts monthly prepayment, default and loss probabilities based on loan and macroeconomic inputs. Mortgage Scores: Measures the risk, borrower equity and value of each loan for identifying, prioritizing and predicting risk of prepay, default and loss over time. Dialer Optimizer: Combines risk ranking, powered by Black Knight’s behavioral models, with payment history to facilitate timely collection and counseling strategies.
Public Record Only Lien Identification (PROLI): Analyzes the various data points for a given property and mortgage. Checks the validity of the collateral position of the mortgage and then displays a current snapshot of the property with historical view.
Lien AlertSM: Instantly provides alerts on up to 10 key lien-related indicators that could negatively impact a servicer’s business, such as foreclosure/default activity, tax delinquency, bankruptcy and more.
Secure, Black Knight-hosted analytics platform, allowing users to import their proprietary data and link it to Black Knight’s McDashSM, public records and government data. Used for measuring and determining mark-to-market analyses, portfolio retention data, estimated losses, run-off/loan-loss analyses and for creating data cohorts.
To help mortgage professionals get the time-sensitive property information they need during the loss mitigation process, Black Knight offers:
Identify open encumbrances (e.g., mortgages, assignments, subordination agreements and involuntary liens and judgments) and tax payment status.
Validate recording information for the subject deed of trust or mortgage, and validate and identify potential breaks in the assignment chain.