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SOURCE Black Knight Financial Services
-- Five-year contract includes use of MSP, Customer CareNet, Electronic Loan Interface and iDisburse.
-- Union Bank & Trust is expanding its lending operations to encompass mortgage servicing.
-- Black Knight was selected for MSP's continual updates to keep pace with mortgage industry regulatory changes and federal requirements; experienced customer service; and Black Knight's reputation for client commitment.
JACKSONVILLE, Fla., June 25, 2014 /PRNewswire/ -- Black Knight Financial Services announced that Union Bank & Trust, based in Lincoln, Nebraska, has signed a five-year contract to service mortgage loans in-house using MSP, Black Knight's industry-leading mortgage and consumer loan servicing platform. MSP, a complete, end-to-end system used by financial institutions to manage all servicing processes, including loan boarding, escrow administration, investor reporting and more, offers servicers the ability to meet all mortgage and consumer loan servicing needs for any size portfolio.
The implementation of MSP supports Union Bank & Trust's expansion into mortgage servicing, which complements the broad mix of financial services the bank offers to businesses and individuals. To expand the capabilities of its new servicing platform, Union Bank & Trust will integrate the following Black Knight solutions with MSP:
-- Electronic Loan Interface to automate the loan setup process.
-- Customer CareNet to provide an online solution that gives Union Bank & Trust borrowers instant access to their mortgage information.
-- iDisburse to provide Union Bank & Trust with a fully automated check-printing solution for reviewing, printing and auditing disbursements.
"MSP offers us the ability to centrally manage all servicing functions on a single technology platform and to easily accommodate our growing loan portfolio," said Alan Fosler, senior vice president, Union Bank & Trust. "The powerful capabilities of Black Knight's technology give us the confidence that MSP is the best system to support our bank's expansion into loan servicing."
"Our technology will allow Union Bank & Trust to reallocate resources to higher-priority customer service and revenue-building initiatives, which will support its growth goals," said Joe Nackashi, CIO and president of Black Knight's Servicing and Default Technologies division. "With MSP, we expect Union Bank & Trust to realize greater operational efficiency, reduce regulatory risk and provide a better borrower experience."
Financial Services, LLC
Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries' leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage life cycle.
Black Knight Financial Services is committed to being the premier business partner that lenders and servicers rely onto achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
About Union Bank & Trust Company
Union Bank & Trust Company is a privately owned, Nebraska-based bank that offers complete banking, lending, investment, and trust services. The bank has thirty-six full service and loan production offices in Nebraska and Kansas. In addition to Lincoln and Omaha, branches are located in nineteen Nebraska communities and the Kansas City metro area. It is the third largest privately-owned bank in Nebraska with bank assets of $2.8 billion and trust assets under management of $12.8 billion as of December 31, 2013.
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