Tammac Holdings Corporation Signs Contract to Use Black Knight's MSP Servicing System and Integrated Servicing Solutions

Rhea-AI Summary

On October 13, 2021, Black Knight, Inc. (NYSE:BKI) announced a partnership with Tammac Holdings Corporation, a lender specializing in mobile home financing, to implement Black Knight's comprehensive servicing technologies, including the MSP loan servicing system. This contract aims to enhance Tammac's customer experience through advanced solutions like Servicing Digital and Loss Mitigation. Tammac seeks to improve operational efficiency and mitigate risks, especially as loans exit forbearance. This collaboration underscores Black Knight's commitment to the mortgage industry, supporting client objectives for growth and retention.

Positive

• Partnership with Tammac Holdings to implement MSP loan servicing system expected to enhance operational efficiency.
• Introduction of Servicing Digital and Loss Mitigation solutions aims to improve customer experience and retention.

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• None.

JACKSONVILLE, Fla., Oct. 13, 2021 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that Tammac Holdings Corporation, a direct lender and servicer with over 40 years in the mobile and manufactured home financing industry, will implement Black Knight's suite of servicing technologies, including its MSP loan servicing system. MSP is a comprehensive, end-to-end solution 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. The company will also add Black Knight's Servicing Digital and Loss Mitigation solutions to further enhance the customer experience, operational efficiencies and risk mitigation.

"Tammac Holdings Corporation is experiencing an exciting period of growth, and enhancing our technology is an important part of this journey," said Troy Cavallaro, chief operating officer at Tammac Holdings Corporation. "Black Knight has been a trusted leader in the mortgage space for decades, and the MSP system and additional servicing solutions were the clear answer for our needs."

Black Knight's innovative Servicing Digital solution will help Tammac Holdings Corporation deepen customer relationships and increase retention. This powerful, interactive application delivers detailed, timely and highly personalized loan information about the value of consumers' homes and how much wealth can be built from their real estate assets. Servicing Digital also enables 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, Tammac Holdings Corporation will implement the Black Knight Loss Mitigation solution to facilitate a more efficient loss mitigation process. This feature-rich, web-based solution supports industry-standard retention and liquidation workouts to streamline operations and mitigate risk, which is important as loans exit forbearance and move into loss mitigation programs. Loss Mitigation leverages advanced rules and logic to guide users through processes step-by-step – including validation points throughout the workflow – to reduce both missed steps and overlooked information. 

"At Black Knight, we continuously make significant investments in our software to support our clients' goals for efficiency, risk mitigation, and growth and retention," said Joe Nackashi, president of Black Knight. "We're pleased that Tammac Holdings Corporation will be leveraging our servicing solutions to help optimize its operations and enhance their customers' experience to compete even more effectively."

About Tammac Holdings Corporation
Founded in 1976, Tammac Holdings Corporation is a private equity-backed mortgage lender that specializes in programs for the manufactured housing industry. Based in Wilkes-Barre, Pennsylvania and currently operating in 14 states, Tammac has been a leader in offering new and competitive financing options to the manufactured housing industry. Tammac has originated over $1 billion in manufactured housing loans. For more information, please visit www.tammac.com.

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.

For more information: Michelle Kersch, Black Knight, Inc. 904.854.5043, michelle.kersch@bkfs.com ; Mitch Cohen, Black Knight, Inc., 704.890.8158, mitch.cohen@bkfs.com

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SOURCE Black Knight, Inc.

FAQ

What is the significance of Black Knight's partnership with Tammac Holdings?

The partnership signifies Black Knight's expansion in the mortgage servicing sector, utilizing its MSP system to enhance Tammac's operational efficiency and customer service.

What technologies will Tammac Holdings implement from Black Knight?

Tammac Holdings will implement Black Knight's MSP loan servicing system, as well as Servicing Digital and Loss Mitigation solutions.

When was the contract between Black Knight and Tammac Holdings announced?

The contract was announced on October 13, 2021.

How does the Loss Mitigation solution benefit Tammac Holdings?

The Loss Mitigation solution streamlines operations and reduces risks, particularly important as loans exit forbearance.