Black Knight Processes a Record 41M Loans for Servicers
Black Knight Financial Services finished yearend loan processing on a record 41 million loans last month.
The Jacksonville, Fla.-based mortgage technology and services company was formerly known as Lender Processing Services until it was acquired by Fidelity National Financial at the beginning of the year and combined with FNF's ServiceLink division.
The annual loan processing is conducted on Black Knight's Mortgage Servicing Package, the system of record technology used by 60 mortgage and consumer loan servicing clients.
"The seamless execution of yearend processing is critically important to our clients, company and the industry," says Joe Nackashi, chief information officer and president of Black Knight Financial Services servicing and default technologies division, in a press release.
The yearend processing of loans helps servicers compile loan information to report prior year account details to mortgagors to meet regulations for the Internal Revenue Service and other government agencies.