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Black Knight Financial Services Inc. (BKFS) has announced that JPMorgan Chase will add home equity loans to MSP, Black Knight's servicing system, over the next year. Additionally, JPMorgan Chase signed a long-term extension for MSP.
MSP is a servicing platform currently being used by JPMorgan Chase to help manage the servicing of mortgage loans, which involves loan boarding, payment processing, escrow administration, default management and more. MSP's innovative technology is also used to reduce JPMorgan Chase's total cost of servicing. MSP was recently recognized as a "Best-in-Class" solution in CEB TowerGroup analysts' "Loan Servicing Systems Technology Analysis" report published in February 2015.
"We are excited to expand our long-time partnership with JPMorgan Chase and provide the technology to centralize its portfolios on a single platform," said Joe Nackashi, Black Knight's CIO and president of its Servicing Technologies Division. "MSP's end-to-end capabilities, supported by Black Knight's default technology and data and analytics solutions, will be key to continue JPMorgan Chase's strategic growth efforts."