Virginia Housing, an agency committed to helping Virginians attain quality, affordable housing, has renewed its contract to use the MSP servicing system from Black Knight.
Virginia Housing has been a valued Black Knight client for 25 years. The agency will also add Black Knight’s Loss Mitigation solution to support deeper automation in its loss mitigation processes.
“Black Knight has been a valuable partner through Virginia Housing’s expansion for over the past two decades,” said Pamela Holmes, director of loan servicing at Virginia Housing. “The MSP system offers the functionality and flexibility to continue meeting our evolving needs, and we look forward to supporting our customers who have been impacted by the pandemic and further streamlining our risk mitigation efforts through the addition of the Loss Mitigation solution to our suite of tools.”
Black Knight says MSP helps servicers increase efficiency, reduce operating costs and improve risk mitigation for approximately 36 million active loans currently serviced on the system.
Integrated with MSP, Black Knight’s Loss Mitigation solution offers a feature-rich, web-based solution that supports industry-standard retention and liquidation workouts to streamline the loss mitigation process and reduce risk.