Covius, a provider of technology-enabled solutions to the financial services industry, announced that its extensive compliance document library is now available within the Black Knight Loss Mitigation platform.
With this integration, servicers using the Black Knight Loss Mitigation solution will be able to access Covius’ 50-state, warranted template document library covering GSE, Ginnie Mae and proprietary loss mitigation programs. Covius’ on-staff regulatory and compliance team continually monitors all federal, state and local legislation, as well as regulatory and judicial decisions, to ensure that the templates remain compliant.
The Black Knight Loss Mitigation solution is a comprehensive, end-to-end loss mitigation workflow and decisioning tool that supports industry-standard retention and liquidation workouts, as well as proprietary forbearance and modification programs to support borrowers impacted by COVID-19 or other unprecedented circumstances. The solution is integrated into Black Knight’s MSP loan servicing system and helps servicers manage the influx of repayment plans, FHA Partial Claims, GSE Payment Deferrals and other types of loan modifications.
“We were pleased to be integrated with Black Knight as an option for its many clients who represent millions of borrowers, some of whom may need options to help them as forbearance ends,” said Jennifer Keys, head of Covius Compliance Solutions. “In uncertain economic times like these, servicers need best-of-breed solutions to help affected borrowers and to maintain unassailable levels of compliance.”