- The Pennsylvania Housing Finance Agency (PHFA) chose the MSP system for its comprehensive functionality, support for regulatory compliance and award-winning client support
- MSP is a complete, end-to-end loan servicing system, encompassing all aspects of mortgage servicing
- PHFA will use Black Knight’s new mobile solution to give its customers ongoing, detailed information about their loans and homes, the tools to manage their housing wealth and an improved user experience
- PHFA is also implementing Black Knight’s electronic signature and document fulfillment capabilities; data and analytics tools; and several default servicing solutions
- PHFA joins a growing number of housing authorities using MSP
JACKSONVILLE, Fla. – July 30, 2018 – Black Knight, Inc. (NYSE:BKI) announced today that the Pennsylvania Housing Finance Agency (PHFA) signed a multi-year contract to use LoanSphere MSP, Black Knight’s industry-leading servicing system. Headquartered in Harrisburg, Pa., PHFA serves the people of Pennsylvania by offering affordable housing resources, including loans and tax credits for the construction of affordable rental housing. PHFA selected MSP for its comprehensive functionality and support for regulatory compliance, and to increase efficiencies as the organization continues to grow.
As part of the agreement, PHFA will also implement LoanSphere Servicing Digital, a powerful, interactive mobile solution providing detailed, timely and highly personalized information to PHFA customers about the value of their homes and how much wealth can be built from these real estate assets. This consumer-centric tool delivers useful information specific to the consumer’s mortgage, property and local housing market by accessing the servicing data via Black Knight’s MSP system.
“PHFA looks forward to working with Black Knight as we continue on our mission of providing capital for decent, safe and affordable homes for older adults, people on moderate incomes and others with special housing needs,” said Brian A. Hudson Sr., PHFA executive director and CEO. “We believe the company’s technology provides the capabilities and support that will allow us to focus on growing our operations and improving the customer experience, while helping us maintain compliance.”
MSP offers a robust and scalable end-to-end loan servicing system that helps clients manage all servicing processes – from payment processing to escrow administration, customer service, default management and more. The system can accommodate any size portfolio, and is augmented by the company’s award-winning client support services. Used to service more than 34 million active loans across the U.S., MSP helps servicers increase operational efficiency, reduce operating costs and improve risk mitigation.
PHFA will also implement LoanSphere Expedite’s electronic signature and document fulfillment capabilities; data and analytics; and suite of LoanSphere default servicing applications.
“We are pleased to provide a comprehensive, integrated approach to meeting PHFA’s servicing needs,” said Joe Nackashi, president of Black Knight. “MSP and our other innovative offerings provide the deep and broad functionality necessary to support PHFA’s future growth, regulatory compliance and an improved customer experience. Our flexible, scalable technology is now being used by multiple state housing authorities, as well as financial institutions of all sizes across the U.S., to help them manage their operations more efficiently and improve service to their customers.”
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs. Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state. Since its creation by the legislature in 1972, it has generated more than $13.9 billion of funding for more than 173,000 single-family home mortgage loans, helped fund the construction of 134,507 rental units, and saved the homes of more than 49,300 families from foreclosure. PHFA programs and operations are funded primarily by the sale of securities and from fees paid by program users, not by public tax dollars. The agency is governed by a 14-member board.
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.
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.