Jacksonville, Florida-based Black Knight Inc. announced today that Rushmore Loan Management Services LLC, a multi-faceted residential mortgage servicer and lender located in Irvine, California; Dallas, Texas; and San Juan, Puerto Rico, has signed a renewal agreement for LoanSphere MSP, Black Knight’s industry-leading servicing system. MSP’s innovative technology will continue to support Rushmore Loan Management’s efforts to remain compliant with regulatory requirements.
“We are pleased to continue our relationship with Black Knight, and use the MSP platform to effectively manage our servicing processes and support our compliance efforts,” said Terry Smith, CEO, Rushmore Loan Management. “The addition of Lien Alert to notify us of certain changes in lien status will serve as a valuable tool to assist our teams in proactively addressing at-risk loans.”
The MSP loan servicing system is an end-to-end solution that encompasses all aspects of servicing for both first mortgages and home equity loans and lines of credit. The system’s comprehensive functionality, which supports servicers’ regulatory requirements, is used to service more than 33 million active loans and helps servicers increase operational efficiency, reduce operating costs and improve risk mitigation. Rushmore Loan Management will continue to use Customer CareNet, a web-based portal that servicers can provide to their borrowers for instant online access to their mortgage and home equity loan information. It also enables borrowers to perform basic, self-service tasks directly from the portal.
As part of the renewal, Rushmore Loan Management will implement Lien Alert, a unique, automated solution that monitors loans and provides alerts on critical lien-related indicators that could impact a servicer’s business, such as foreclosure/default activity, ownership changes, new loans recorded, ARM resets and more. The servicer also plans to implement LoanSphere Loan Boarding, a user-friendly solution providing the functionality to efficiently board new and seasoned mortgage and home equity loans onto MSP.
“We value Rushmore Loan Management’s confidence in our MSP system and its ability to reinforce Rushmore’s commitment to providing outstanding loan servicing and customer support,” said Black Knight President Joe Nackashi. “We will continue supporting the company’s growth with our innovative software and dynamic data and analytics capabilities.”