— Fahe (Federation of Appalachian Housing Enterprises), a nonprofit that serves the people and communities of Appalachia, has signed a contract for the MSP loan servicing system
— MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default
— Fahe will also use Black Knight’s default suite of solutions to help manage loss mitigation processes and streamline the handling of nonperforming loans, as well as the Servicing Digital solution to enhance interactions and support retention
— The servicer will also implement the Actionable Intelligence Platform for strategic, proactive and actionable analytics, as well as McDash industry reports for mortgage performance data
Today, Black Knight, Inc. (NYSE: BKI) announced that Fahe, a nonprofit that serves the people and communities of Appalachia, has signed a contract for the MSP loan servicing system. MSP is Black Knight’s comprehensive, end-to-end loan servicing system that supports all aspects of servicing, from loan boarding to default.
“For 40 years, Fahe has worked to create positive change to help achieve a more prosperous Appalachian region,” said Ed Laurel, senior vice president of Loan Servicing, Fahe. “Implementing MSP will allow us to serve our communities with the same top-tier technology used by the nation’s premier financial institutions. We appreciate that Black Knight worked closely with us to identify the right solutions for our needs within the scope of our budget.”
The nonprofit will also add Black Knight’s suite of default solutions to help reduce cycle times, decrease operating costs and improve efficiencies when servicing nonperforming loans. This includes Loss Mitigation, a feature-rich, web-based solution that supports industry-standard retention, collections and liquidation workouts to help improve 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.
In addition, Fahe is incorporating Servicing Digital, an interactive, consumer-facing web and mobile solution that provides easy access to customized, timely information about a borrower’s mortgage and home. This powerful application supports deeper consumer relationships and engagement by giving customers tools to make mortgage payments and explore opportunities for refinancing and more – all from the convenience of the web or a mobile device.
Fahe is also taking advantage of several servicing-focused data and analytics solutions from Black Knight, including the Actionable Intelligence Platform, which 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 use McDash industry reports from Black Knight. These reports – which provide delinquency and prepayment overviews, roll rates, and state-level mortgage performance data – are used to support benchmarking and analysis, portfolio management, strategy development and more.
“It’s a distinct honor to provide technology that directly supports Fahe’s mission to aid underserved individuals and communities,” said Joe Nackashi, CEO, Black Knight. “Our MSP loan servicing system uniquely offers scalability and functionality for nonprofits, large banks, and every entity in between. Additionally, the seamless integration and automation within our servicing solutions will help Fahe efficiently manage their servicing operations as they grow.”
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.
Fahe is on a mission to build the American Dream. Working with our Network of 50+ nonprofits across the Appalachian portion of Kentucky, Tennessee, West Virginia, Virginia, Alabama, and Maryland, we use our expertise in finance, collaboration, innovation, advocacy, and communication to achieve a more prosperous Appalachian region. With a focus on leadership, housing, education, health and social services, and economic opportunity, Fahe empowers the people and communities of Appalachia with the resources, opportunities, and tools needed to build a better life. Our strength in numbers creates positive change in Appalachia, one of the poorest and most difficult regions of the country to serve. Together we serve over 80,000 people each year.
SOURCE Black Knight, Inc.