Ruoff Mortgage Selects Black Knight MSP Servicing System and Suite of Solutions to Support New In-House Servicing Operation
- Ruoff Mortgage has signed a contract to use the industry-leading Black Knight MSP loan servicing system as it brings its servicing operations in-house; MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default
- Ruoff Mortgage has also selected additional Black Knight solutions, including the cloud-native Customer Service solution to help representatives assist consumers more quickly and efficiently, and the Servicing Digital solution to offer customers self-service access to personalized, timely information about their mortgage and home
- To support loss mitigation processes and streamline the handling of nonperforming loans, the company is also implementing Black Knight’s Default Suite of solutions, including Loss Mitigation
- The company will also add Black Knight’s Actionable Intelligence Platform for strategic, proactive and actionable analytics, as well as McDash industry reports for mortgage performance data
JACKSONVILLE, Fla. – April 5, 2022 – Today, Black Knight, Inc. (NYSE:BKI) announced that Ruoff Mortgage Company, Inc. (Ruoff Mortgage), a full-service residential mortgage company with more than 70 retail branch locations, has signed a contract to use the Black Knight MSP loan servicing system. MSP is a comprehensive, end-to-end platform that supports all aspects of servicing – from loan boarding to default – for first mortgages, as well as home equity loans and lines of credit, on a single system. Currently, MSP services approximately 37 million active loans. In addition to MSP, Ruoff Mortgage will leverage several other innovative Black Knight solutions as it transitions its mortgage servicing in-house and works to enhance its focus on the customer experience and operational efficiency.
“For years, our lending customers at Ruoff Mortgage have been the center of everything we do, and we’re now ready to extend this focus to our servicing customers, as we bring the management of our mortgage portfolio in-house,” said Mark Music, President and CEO of Ruoff Mortgage. “High-functioning, best-in-class technology is critical to this effort, and we feel that we’ve found that and more with Black Knight’s servicing suite.”
In addition to the MSP loan servicing system, Ruoff Mortgage’s support representatives will leverage 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. Customer Service is seamlessly integrated with both MSP and Black Knight’s Servicing Digital solution.
Servicing Digital is an interactive, user-friendly web and mobile solution for consumers that provides easy access to customized, timely information about mortgages and homes. This powerful application supports deeper consumer relationships and engagement by enabling customers to make mortgage payments and explore opportunities for refinancing and more – all from the convenience of the web or a mobile device. Since Ruoff Mortgage is implementing both Customer Service and Servicing Digital, the company’s support representatives will have a view of what their borrowers are seeing on their side when they call, facilitating an even more productive and enriching conversation.
Both solutions were built using a cloud-first strategy with Customer Service adopting a cloud-native design and implementation.
To streamline default processes, the company will also add Black Knight’s full Default Suite of 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 help streamline operations and mitigate risk. Loss Mitigation leverages advanced rules and logic to guide users through processes step-by-step, including validation points throughout the workflow, to help reduce missed steps and overlooked information.
Ruoff Mortgage is now using several servicing-focused data and analytics solutions from Black Knight, including the Actionable Intelligence Platform (AIP). The AIP delivers strategic, proactive and actionable analytics to the right people across an organization at the right time, so they know which action to take next. Additionally, the company will leverage Black Knight’s 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.
“With the MSP loan servicing system and additional Black Knight solutions, Ruoff Mortgage will be well-equipped to service its portfolio with a high degree of efficiency and customer support,” said Black Knight President Joe Nackashi. “Our team at Black Knight looks forward to seeing Ruoff’s success during this exciting time in the company’s operations.”
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 Ruoff Mortgage
Ruoff Mortgage is a full-service residential mortgage company with 70+ retail locations and originates in 45 states through their online consumer direct division. They have been recognized by several prominent industry publications such as the Scotsman Guide’s list of Top Mortgage Lenders and Mortgage Executive Magazine’s Top 100 Mortgage Companies in America and have been listed on the Inc. 5000’s Fastest Growing Companies for nine years in a row. Ruoff Mortgage has a 98.2% customer satisfaction rating, as compiled by CX leader, Customerville. www.ruoff.com