Cenlar Renews Five-Year Deal With Black Knight Financial for Use of LoanSphere – NMP Skip to main content

Cenlar Renews Five-Year Deal With Black Knight Financial for Use of LoanSphere

NationalMortgageProfessional.com
Feb 01, 2017
Black Knight Financial Services Inc. (BKFS) has announced that Cenlar FSB has signed a five-year renewal for LoanSphere MSP

Black Knight Financial Services Inc. (BKFS) has announced that Cenlar FSB has signed a five-year renewal for LoanSphere MSPBlack Knight Financial Services Inc. (BKFS) has announced that Cenlar FSB has signed a five-year renewal for LoanSphere MSP, Black Knight's loan servicing system. MSP is a scalable, end-to-end system used by financial institutions to manage all servicing processes, including loan setup and maintenance, escrow administration, investor reporting, regulatory requirements and more. Cenlar has been an MSP customer for 30 years.
 
"As a longstanding client, we knew MSP offered robust, best-in-class servicing capabilities to support our growth, improve our efficiencies and help identify risk," said Michael Blair, Cenlar FSB's executive vice president and director of Loan Administration. "Other factors in our decision to renew the MSP contract included the system's scalability to easily accommodate the ongoing expansion of Cenlar's loan portfolio; Cenlar's ability to service both first mortgages and home equity lines and loans on a single platform; and its proven effectiveness at managing our loan servicing tasks while supporting our current and evolving regulatory requirements."
 
As part of Cenlar's MSP renewal agreement, the company will also begin use of Lien Alert, a solution that is integrated with MSP. Based on Cenlar's predetermined rules and frequencies for individual loans or loan portfolios, the Lien Alert solution will automatically send notifications to Cenlar when a key lien-related indicator is triggered—such as tax delinquency, foreclosure/default activity, bankruptcy, changes in valuation and ARM reset.
 
"Black Knight is proud to continue its decades-long business relationship with Cenlar, and offer the innovative capabilities their organization needs to support Cenlar's growth," said Joe Nackashi, president of Black Knight's Servicing Technologies Division.
Published
Feb 01, 2017
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021