HomeStreet Bank, the bank subsidiary of HomeStreet, Inc. (Nasdaq:HMST), has signed a multi-year contract extension for the MSP loan servicing system. MSP is Black Knight’s comprehensive, end-to-end loan servicing system that supports all aspects of servicing, from loan boarding to default. The bank will also implement new solutions to help further expand its ability to deliver high-quality customer service and efficiently manage outstanding receivables.
“We’ve trusted our servicing needs to the MSP loan servicing system for 50 years, and we appreciate the fact that Black Knight continually invests in and delivers new solutions that help us better support our customers,” said Marlene Price, Senior Vice President and Director of Single Family and Commercial Loan Operations for HomeStreet Bank. “It’s rare to find an organization that has both a proven reputation and a commitment to continuous innovation. We look forward to further enhancing the experience we deliver to our customers with the addition of these new solutions.”
To support its customer-first mission, HomeStreet Bank will implement the Black Knight Customer Service solution, which gives support representatives access to detailed, holistic and timely information at the point of customer contact. The solution presents loan, home and neighborhood information through an intuitive, easy-to-use graphical interface – helping representatives deliver exemplary service by responding to questions quickly, accurately and efficiently. The bank will also use the new Financial Transaction Administration (FTA) web-based solution that helps servicers accurately and efficiently manage outstanding receivables. Seamlessly integrated with MSP, FTA streamlines the process of tracking down corporate advances at the transactional level, helping to reduce manual tasks across many functions, including corporate accounting, loss mitigation, claims and more.
“It’s always an honor when our clients choose to extend their use of MSP,” said Joe Nackashi, vice chair, ICE Mortgage Technology. “Our relationship with HomeStreet Bank is a particularly special one, as they’ve trusted our technology to assist them with their servicing operations for 50 years. That’s half of the bank’s 100-year history, and we consider the longevity of our relationship both an immense privilege and a testament to the quality of our solutions, our renowned client support and our focus on innovation.”
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