Black Knight, Inc., has integrated several of its products into its Servicing Digital solution, enhancing its abilities to give customized information to its customers about their homes and mortgages and providing a variety of self-service capabilities. These additions include the company’s loss mitigation, automated valuation model (AVM), and product, pricing, and eligibility (PPE) solutions.
“From the beginning, Black Knight’s vision for Servicing Digital has been to help servicers provide consumers with a one-stop shop for all tasks related to their mortgage and home throughout the servicing journey,” Black Knight President Joe Nackashi said in a release. “In just two years, we’ve seen significant demand for our Servicing Digital solution from new and existing servicing clients – a testament to the fact that today’s consumers are hungry for digital capabilities that complement their busy lives.”
The integrations fulfill a variety of tasks within Servicing Digital. Integrated AVMs from Black Knight’s Collateral Analytics allow customers to track the current value of their home by leveraging the same models used by lenders to underwrite loans, calculate refinancing opportunities, and evaluate portfolios. The company’s Optimal Blue PPE integration offers customers the ability to view personalized refinance pricing and eligibility from any device, at any time and in any location, and gives servicers a way to automatically share detailed information with customers.
Servicing Digital also has been enhanced with Black Knight’s Loss Mitigation solution, allowing customers to initiate requests for assistance or modification through an advanced self-service prompt within the app. The company said this results in significant efficiencies that will be helpful in light of the large projected volume of post-forbearance workout plans servicers will be facing in the fall.
Black Knight’s improvements also included the company’s bankruptcy solution to enable customers in bankruptcy to access current loan information and send secure messages. Enhancements also connect consumers to insurance marketplaces and home project management services, enabling customers to search for and choose homeowner’s insurance policies within Service Digital.
“The power of Black Knight is that we are able to bring many of our solutions together to create a better experience for the customer and create efficiencies for servicers,” Nackashi said. “With retention rates near historic lows, a growing number of servicers are realizing that delivering a superior customer experience is instrumental to success. Black Knight remains committed to delivering integrated solutions, such as Servicing Digital, that help servicers exceed their customers’ expectations.”