Black Knight Financial Services Inc., an integrated technology, data, and analytics company, announced that LoanCare signed a seven-year renewal to continue using Black Knight’s LoanSphere MSP, which is its end-to-end servicing system.
LoanCare, a national full-service residential subservicing and ServiceLink company, uses LoanSphere MSP to help reduce the costs, resources, and potential regulatory risks associated with operating multiple systems and is currently uses the system to service over 30 million active loans.
“Black Knight’s MSP system offers us innovative features and functionality to support the expansion of LoanCare’s business to serve additional customers,” said Dave Worrall, President of LoanCare. “Black Knight’s commitment to continuous enhancements of its technologies will help LoanCare meet our clients’ servicing needs both now and in the future and support our efforts to provide a best-in-class experience for our clients’ borrowers.”
According to Joe Nackashi, President of Black Knight’s Servicing Technologies division, the company is pleased to continue its relationship with LoanCare and deliver solutions that help support its operations.
“We appreciate LoanCare’s confidence in us, and will continue to enhance the system to deliver new capabilities to support its future growth and success,” Nackashi said.
LoanCare also uses other Black Knight servicing solutions to assist servicers with managing bankruptcy processes, including, LoanSphere Bankruptcy, and LoanSphere Foreclosure. To provide a web-based invoice management solution, LoanCare utilizes LoanSphere Invoicing.