Black Knight Financial Services, Inc., a provider of integrated technology, data and analytics to the mortgage and real estate industries, announced that it has completed the conversion of more than 1 million home equity and private banking loans onto the company’s advanced LoanSphere MSP servicing system for JPMorgan Chase, a global financial services firm.
JPMorgan Chase also implemented LoanSphere Loan Boarding, a tool that helps servicers efficiently board loans onto MSP. Additionally, JPMorgan Chase added loans to Black Knight’s LoanSphere Invoicing, a web-based solution that streamlines billing and invoicing.
“Chase continues to make great progress improving the experience for our Home Lending customers. As part of that effort, this conversion will help streamline processes and improve efficiencies. The Chase Home Lending team greatly appreciates Black Knight’s partnership during this conversion,” Peter Muriungi, head of servicing for Chase Home Lending, said in a press release.
MSP offers a single, comprehensive system used by financial institutions to service more than 30 million active loans – more than any other in the mortgage industry, according to the release. The system helps clients manage all servicing processes – from loan boarding and payment processing to escrow administration, default management and more. Black Knight’s streamlined implementation experience, technology infrastructure, continual system updates to meet changing regulatory requirements and data transparency will help Chase achieve greater operational efficiency, improve risk management and enhance customer service to its customers.
“We are immensely proud to have successfully delivered this large conversion for JPMorgan Chase through exceptional teamwork, tireless dedication and steadfast diligence from both companies’ teams,” Joe Nackashi, president of Black Knight’s Servicing Technologies division, said in the release. “Using MSP’s end-to-end capabilities, supported by Black Knight’s default technology and data and analytics solutions, will help position Chase Home Loans for further growth and enhance the level of service that is foundational to longer-term customer satisfaction.”