Huntington National Bank Renews Contract With Black Knight for its MSP Servicing System
On November 4, 2021, Black Knight (NYSE:BKI) announced that Huntington National Bank renewed its contract for the MSP loan servicing system. The renewal signifies a strong partnership as Huntington seeks growth in its consumer real estate loan portfolio. Black Knight will also provide additional solutions, including Servicing Digital, enhancing customer engagement and streamlining mortgage processes. The deal includes data analytics tools like McDash reports for better portfolio management.
- Contract renewal with Huntington National Bank strengthens partnership and supports growth.
- Implementation of additional Black Knight solutions enhances customer experience and regulatory compliance.
- None.
JACKSONVILLE, Fla., Nov. 4, 2021 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that Huntington National Bank has renewed its contract to use the Black Knight MSP loan servicing system. In addition, Huntington is implementing several other Black Knight solutions to support growth, the customer experience and regulatory compliance.
"Huntington and Black Knight have a track record of success working together, and we're pleased to extend our relationship with them," said Paul Heller, Huntington chief technology and operations officer. "Consumer real estate loan portfolio growth is an important part of our strategic plan, and we value Black Knight's scalable solutions that have helped us manage our expansion and scale in recent years."
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.
Huntington also uses Black Knight's Servicing Digital solution, which is integrated with the bank's digital consumer platform. Servicing Digital is an interactive, user-friendly web and mobile solution for consumers that provides easy access to customized, timely information about their mortgages. 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.
In addition, Huntington has implemented Black Knight's Loss Mitigation solution to facilitate more efficient loss mitigation processes. Loss Mitigation leverages advanced rules and logic to guide users through processes step-by-step, including validation points throughout the workflow, to reduce missed steps and overlooked information.
Huntington also is planning to use several servicing-focused data and analytics solutions from Black Knight, including McDash industry reports. These reports provide delinquency and prepayment overviews, roll rates, and state-level mortgage performance data. McDash industry reports are used to support benchmarking and analysis, portfolio management, strategy development and much more. The bank also will use Black Knight's AFT Prepayment and Credit Model, which forecasts voluntary and involuntary prepayments, defaults, delinquency, cash flow and loss severity for residential and multifamily mortgage types.
"Black Knight and Huntington have a strong relationship built on trust, and we are committed to providing our premier MSP servicing system to support their success. In fact, Huntington was valuable in helping Black Knight build home equity capabilities in MSP, and we appreciate their leaders' willingness to help us advance the platform," said Joe Nackashi, president of Black Knight. "It's a pleasure to continue supporting the bank's ongoing growth, and we look forward to seeing the company's success with our customer- and compliance-focused solutions."
About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a
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.
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