Black Knight, Inc. announced national digital lender and servicer The Money Source Inc. (TMS), which focuses on mortgage servicing, subservicing and correspondent lending, has signed a multi-year renewal for Black Knight’s suite of servicing and default solutions, including the MSP servicing system. The announcement, however, did not disclose the length of the new agreement.

TMS reportedly extended the partnership soon after implementing Black Knight’s end-to-end loss mitigation workflow and decisioning tool, and announced plans to start using the Black Knight Servicing Digital solution. The latter, ”to provide borrowers with insightful information about their loans and homes to help them build wealth through their real estate assets,” the statement notes.

The integrated suite of solutions also will further support TMS’ mortgage servicing and subservicing business, according to the announcement.

The extended commitment to using MSP validates Black Knight’s mortgage servicing system, and its suite of integrated capabilities to support our default loan processes, said Stavros Papastavrou, CEO of TMS, which according to the executive “is also committed to driving servicing innovation” through partners such as Black Knight.

The MSP loan servicing system services approximately 36 million active loans and supports both first mortgages and home equity loans and lines of credit on the same scalable system, regardless of the portfolio size. It features all aspects of servicing from payment processing to escrow administration, customer service, default management, including support for servicers’ regulatory requirements.

Integrated with MSP, Black Knight’s Servicing Digital reportedly serves as an interactive web and mobile solution with personalized mortgage loan and home information customers can review anytime and use make mortgage payments, purchase, refinance or take out a home equity loan.

Black Knight’s Loss Mitigation, also integrated with MSP to enable TMS to get end-to-end loss mitigation support and assist servicers with accurate, timely information about the borrower assistance needs. The software adds to other Black Knight default tools used by TMS including bankruptcy, foreclosure, invoicing and claims solutions, the company said.

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