Lower Selects Industry-Leading Black Knight MSP Maintenance System and Additional Integrated Solutions to Support Business Growth
– Lower signed a contract to use the Black Knight MSP service system and complementary service solutions to help drive growth, support regulatory compliance and increase customer retention by providing the tools to deliver exceptional customer experience
– MSP is a complete end-to-end loan servicing system that encompasses all aspects of servicing from loan onboarding to default
– In addition to MSP, Lower will implement Black Knight’s full suite of service solutions, including Servicing Digital, Customer Service, Loss Mitigation and Actionable Intelligence Platform
JACKSONVILLE, Florida., April 21, 2022 /PRNewswire/ — Today, Dark Knight, Inc. (NYSE: BKI) announced that Lower signed a contract to use the first Black Knight MSP loan service system. Lower and its family of companies, including national retail lender Financial at home and several regional brands, are working to increase consumer wealth through home ownership. Using MSP, which supports first mortgages, as well as home equity loans and lines of credit on a single platform, is a comprehensive, scalable, end-to-end system used by financial institutions to manage all service processes, including loan setup. and maintenance, escrow administration, investor reporting, regulatory requirements and more. Today, it is used to service approximately 37 million active loans and helps managers increase operational efficiency, reduce costs and improve risk mitigation.
“We always strive to provide our customers with a smooth and enjoyable experience when working with Lower, so we knew Black Knight’s industry-leading solutions were the obvious choice to support our portfolio maintenance in-house,” said co-founder and managing partner Mike. Baynes. “Through their collaborative approach, we are improving our processes to provide our clients with the best service throughout the life of their loan.”
In addition to the MSP service system, Lower will implement Servicing Digital. This self-service, customer-centric solution allows homeowners to easily perform tasks and view information related to their mortgages through a simple, user-friendly interface, while providing a platform for ongoing engagement between agents. of service and their customers. This innovative solution provides useful information specific to an individual’s local mortgage, real estate and real estate market. Servicing Digital accesses data through the MSP system and leverages the company’s state-of-the-art real estate records database, advanced analytics and automated valuation models to deliver this comprehensive data. Servicing Digital is available in both responsive web design and native mobile app versions.
Lower will also use the Black Knight customer service solution, which provides a holistic view of consumers and their loans, allowing customer service representatives to respond to issues efficiently and quickly. With the customer service solution, reps can easily view a wide range of information, including an overview of the customer’s loan, a snapshot of the last 30 days and the next 90 days of key activities on the loan, pending payments , escrow and waiver information. eligibility. Conversation threads can be viewed by multiple employees, and reps can gauge customer sentiment at the start and end of the call to support customer follow-up and retention efforts.
Finally, to further improve its maintenance operations, Lower will also use the Black Knight Loss Mitigation application and Actionable Intelligence Platform (AIP), both integrated with MSP. Loss Mitigation is a feature-rich, web-based solution that supports industry-standard retention and liquidation procedures to streamline the loss mitigation process and reduce risk. AIP delivers strategic and proactive analytics to the right people at the right time to help lending and servicing customers win and retain customers, reduce risk and reduce operational costs.
“Black Knight is ready to help Lower leverage our innovative end-to-end maintenance technologies to meet and exceed its growth goals,” said Joe Nackashi, Chairman, Black Knight. “In addition to helping Lower increase operational efficiency and manage regulatory compliance, we believe our integrated solutions will have a significant impact on customer retention by providing the capabilities Lower needs to deliver a premier experience. order to its customers, which is essential in today’s competitive environment. “
About the Dark Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.
Our customers rely on our proven, comprehensive, and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
About the bottom
Lower’s multi-channel fintech platform helps consumers create wealth through homeownership, no matter where they are in their life journey. Our mortgage, banking, insurance and real estate products provide customers with an intuitive ecosystem to simplify their homeownership goals, whether it’s their first or their last. Lower is a national and local Better Workplace and the naming rights partner of Lower.com Field, home of the Columbus Crew.
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Dark Knight, Inc.
Dark Knight, Inc.
SOURCEBlack Knight, Inc.