Black Knight Mortgage Servicing Expands Its Reach

Black Knight Mortgage Servicing has been expanding its reach in the mortgage industry, and it's a game-changer for homeowners and lenders alike. The company has been growing its portfolio of mortgage servicing rights, which now exceeds $300 billion.

This significant growth is a testament to the company's commitment to providing top-notch mortgage servicing solutions. Black Knight's expertise in loan servicing, subservicing, and default management has made it a go-to partner for lenders and investors.

By expanding its reach, Black Knight is able to offer more comprehensive services to its clients, including advanced analytics and technology solutions. This enables lenders to better manage their portfolios and make more informed decisions.

The company's growth also means more opportunities for homeowners to benefit from its services, including streamlined communication and faster resolution of loan issues.

Black Knight Mortgage Servicing has been making headlines recently. The company has been expanding its services to include more loan types, such as government-backed loans.

In 2022, Black Knight Mortgage Servicing announced a significant partnership with a major financial institution to provide mortgage servicing solutions to a wider range of customers. This move is expected to increase the company's market share and revenue.

Black Knight has expanded its partnership with Quicken Loans, now offering loan servicing to Quicken Loans' customers. This move marks a significant milestone in Black Knight's growth.

Black Knight's technology platform will be used to service over 1 million loans for Quicken Loans, making it one of the largest loan servicing platforms in the industry.

State Employees' Credit Union (SECU) has chosen Black Knight's Servicing Solutions for its mortgage loan servicing needs. SECU is the second largest credit union in the US, serving over 2.6 million members.

This partnership will bring unmatched innovation to SECU's mortgage servicing processes. With Black Knight's industry-leading technology, SECU aims to deliver the most advanced technology to its members.

SECU will utilize Black Knight's comprehensive MSP system, which supports all aspects of servicing, from loan boarding to default. This system will help SECU streamline its default processes and reduce cycle times.

The credit union will also use Black Knight's cloud native Customer Service solution, providing support representatives with detailed, holistic, and timely information. This will enable them to deliver exemplary service to members.

SECU's selection of Black Knight's solutions was guided by its commitment to current and future members. The credit union aims to exceed its members' expectations with the most advanced technology.

By leveraging Black Knight's default solutions, SECU hopes to reduce operating costs and improve efficiencies when servicing nonperforming loans. This will help the credit union mitigate risk and improve operations.

SECU is also taking advantage of Black Knight's data and analytics solutions, including the Actionable Intelligence Platform. This will provide the credit union with strategic, proactive, and actionable analytics to support its decision-making.

Black Knight's revenues for the year ended Dec. 31, 2018, increased 6 percent to $1,114.0 million, compared to $1,051.6 million in 2017.

The company's earnings for the same time period were $168.5 million, or $1.14 per share, compared to $182.3 million, or $1.47 per diluted share, in 2017.

Revenues from the software solutions business increased 6% to $245.8 million in the fourth quarter.

Servicing software solutions generated revenue growth of 7% due to strong loan growth in the core servicing software platform from new and existing clients, higher average revenue per loan and new client wins.

Origination software revenue increased 4 percent, driven by 35 percent growth in the results of loan origination solution.

Black Knight has migrated several major clients onto the Empower loan origination system, including PNC, Fifth Third, Navy Federal Credit Union and Santander Bank.

The company has also seen success with its digital mortgage products, with eight clients signing on to Servicing Digital since its launch last summer.