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- AVMs should allow consumers to track the current value of their home within servicing digital.
- Black Knight’s Optimal Blue PPE will be available to consumers to personalize their refinance pricing.
- The loss mitigation solution allows customers to request assistance or modifications through a self-service prompt.
Black Knight Inc., announces the enhancement of their servicing digital solution by integrating it with the company’s other products, including loss mitigation, automated valuation model (AVM), and product, pricing, and eligibility (PPE).
President of Black Knight, Joe Nackashi, said, “From the beginning, Black Knight's vision for Servicing Digital has been to help servicers provide consumers with a one-stop shop for all tasks related to their mortgage and home throughout the servicing journey. In just two years, we've seen significant demand for our Servicing Digital solution from new and existing servicing clients – a testament to the fact that today's consumers are hungry for digital capabilities that complement their busy lives.”
The integrated AVMs should allow consumers to track the current value of their home within servicing digital, which leverages the same models used by lenders to underwrite loans, calculate refinance opportunities, and evaluate portfolios.
Black Knight’s Optimal Blue PPE, which happens to be the most widely used product and pricing engine in the mortgage industry, will be available to consumers to personalize refinance pricing. Consumers are also able to do this on any device, anywhere and anytime. The program provides servicers with a mechanism to automatically share detailed information with customers, improving their relationship.
The loss mitigation solution is also being integrated with servicing digital, which allows customers to request assistance or modifications through a self-service prompt as an alternative to calling customer service. This is expected to increase efficiency, especially due to the large volumes of post-forbearance workout plans servicers will be facing in the coming months. The integration will also enable customers in bankruptcy to access current loan information and send messages to their servicers.
"The power of Black Knight is that we are able to bring many of our solutions together to create a better experience for the customer and create efficiencies for servicers," said Nackashi. "With retention rates near historic lows, a growing number of servicers are realizing that delivering a superior customer experience is instrumental to success. Black Knight remains committed to delivering integrated solutions, such as Servicing Digital, that help servicers exceed their customers' expectations.”
For more information on Black Knight, please visit www.blackknightinc.com.