Black Knight Financial Services’ Data & Analytics division recently announced its Servicing Analytics Suite, a solution that leverages three Black Knight analytics products to help servicers more easily identify portfolio risk and create effective loss mitigation strategies. The solution integrates with LoanSphere MSP, Black Knight’s comprehensive mortgage and home equity loan servicing system that is in use with more than 30 million loans in the U.S.
According to Black Knight, the suite includes:
- Dialer Optimizer – Uses Black Knight’s proven behavioral models to risk-rank loans based on probability and severity of potential loss, as well as borrower historical payment pattern. Dialer Optimizer delivers a loan-level score to help servicers effectively prioritize their collections efforts by identifying the highest-risk borrowers so they can be contacted early, to comply with investor-collection guidelines and reduce loss.
- Prepayment & Default Scores – Provides loan-level default and prepayment probabilities, as well as loss given default, based on Black Knight’s proven predictive analytics, helping servicers quickly and efficiently identify risks in their portfolio. The scores can help with forecasting, loss reserving, retention and more.
- Lien Alert – Monitors loans and properties for key lien-related indicators and employs a push-notification approach to alert users, helping servicers identify early warning signs and proactively address at-risk loans.
According to the release, leveraging Black Knight’s extensive public records database that covers 99.9 percent of U.S. households, the solution provides servicers with seven standard critical lien-relates alerts: new loans recorded, property tax delinquency, foreclosure activity, ownership changes, value changes, lien status changes and ARM resets. Bankruptcy, involuntary liens and judgments, and MLS listings are also available to add.
“The integration of Black Knight’s Servicing Analytics Suite within the MSP platform is unrivaled in the market, providing a unique, powerful solution designed specifically for servicing and portfolio management,” said Julian Grey, Mortgage Market Leader, Black Knight Data & Analytics. “The solution, which leverages our vast data assets and trading-quality analytics, delivers actionable loan-level metrics, and offers an array of benefits to help servicers effectively drive improved performance.”