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MSP Servicing System from Black Knight
A comprehensive mortgage loan servicing platform that manages all aspects of loan servicing, including payment processing, escrow administration, investor accounting, regulatory requirements, loss mitigation, and default management.
Product analysis by function
Loan Operations for Operations
Platforms for managing the operational aspects of loan servicing, documentation, and disbursement.
More Loan Operations
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Loan Origination
(8 Yes /9 Known /14 Possible features)
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Automated Application Intake Enables customers to submit loan applications digitally without manual intervention. |
Not as far as we are aware.* MSP is a loan servicing platform, not a loan origination system. It does not provide automated application intake. | |
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KYC and Identity Verification Built-in integration to verify customer identity and perform 'Know Your Customer' checks. |
No information available | |
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Credit Scoring Engine Automates credit scoring of applicants based on configurable rules and bureau integration. |
No information available | |
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Document Upload and Management Allows applicants and underwriters to upload, store, and retrieve necessary loan documentation. |
MSP supports extensive document upload, storage, and retrieval for servicing and compliance. | |
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Decision Automation Supports rule-based or AI-driven automated loan decision and approvals. |
No information available | |
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Multi-Product Support Ability to originate multiple loan products (e.g., mortgages, auto, personal) from a single system. |
MSP manages multiple loan product types, including mortgages, HELOCs, consumer, and business loans. | |
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Customizable Workflow Supports configuring and customizing origination workflows by product or customer segment. |
MSP allows configuration of workflows for different servicing requirements and investor rules. | |
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Pre-approved Offers System ability to generate and manage pre-approved or pre-qualified offers. |
No information available | |
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Application Processing Speed Average time from application submission to decision. |
No information available | |
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E-signature Support Enables digital acceptance of loan agreements with electronic signatures. |
The MSP system enables e-signature for servicer communications and borrower authorizations. | |
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Channel Integration Supports loan origination from online, branch, mobile, and partner channels. |
MSP supports servicing interaction from web portals, call centers, and batch partner interfaces. | |
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Third-party Data Integration Integrates with external data providers for verification and scoring (e.g. credit bureaus). |
MSP has various third-party integrations for payment processing, regulatory reporting, and investor management. | |
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Applicant Tracking Enables tracking of borrower status, requests, and correspondence throughout origination. |
MSP tracks borrower status, correspondence, requests, and activities within the servicing lifecycle. | |
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Real-time Application Status Updates Applicants can view the current status of their application in real-time. |
Servicer and borrower portals provide real-time status updates on accounts and requests. |
Loan Servicing
(12 Yes /12 Known /13 Possible features)
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Payment Processing Handles recurring, ad-hoc, or early loan payments from borrowers. |
MSP handles recurring and ad-hoc loan payments, as evidenced by its payment processing and servicing capabilities mentioned in product documentation. | |
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Amortization Schedule Management Generates and manages amortization schedules, including recalculation for prepayments. |
Described as managing all aspects of loan servicing, which includes amortization schedule management. Amortization information is among core loan setup and administration functions. | |
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Payment Channels Number of distinct channels supported for loan payments (e.g., online, mobile, ACH, branch). |
No information available | |
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Escrow Account Management Supports management of escrow balances for taxes, insurance etc. |
Escrow administration is explicitly cited as a key feature of MSP. | |
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Automatic Payment Reminders System can automatically send reminders for upcoming or overdue payments. |
Platform supports automatic payment reminders and notifications for due and overdue payments. | |
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Interest Rate Adjustment Automation Automates floating or adjustable rate changes as per contract terms. |
Handles adjustable-rate mortgages and automates rate changes as contractually required (cited in product feature lists). | |
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Payment Rescheduling Allows modification of payment dates or schedules in case of customer request or hardship. |
Platform supports loan modifications, forbearances, and payment schedule changes as part of loss mitigation and hardship processes. | |
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Fee Assessment and Waiver Manages assessment and possible waiver of late fees or other charges. |
Fee assessment and waivers (like late fee waivers) are configurable and supported for large servicers. | |
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Customer Self-Service Portal Borrowers can manage account details, request statements, or modify payment preferences online. |
Black Knight's MSP provides borrowers with an online self-service portal to view, manage accounts, make payments, or request statements. | |
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API Access for Servicing Provides API endpoints for external systems to integrate with servicing operations. |
MSP exposes extensive APIs for integration of servicing operations with client systems. | |
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Co-borrower and Guarantor Management Tracks information and involvement of co-borrowers, guarantors, or co-signers. |
Tracks and manages co-borrower and guarantor information as part of core functionality for mortgage loan servicing. | |
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Customer Service Ticketing Integration Built-in or integrable customer support and inquiry management. |
Black Knight documentation confirms integration with ticketing and customer service platforms. | |
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Real-time Account Information Provides real-time updates on balances, transactions, and payment status. |
MSP provides real-time account balances, payment status, and servicing history for borrowers and staff. |
Collections and Delinquency Management
(10 Yes /11 Known /11 Possible features)
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Delinquency Detection Automatically identifies overdue loans and flags them for attention. |
System automatically detects, tracks, and manages delinquencies as standard functionality. | |
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Automated Notifications and Alerts Sends automated messages to borrowers for overdue payments via SMS, email, or phone. |
Automated SMS, email, and paper notifications for collections are built in. | |
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Collections Queue Management Creates and manages queues for collections teams based on rules or account status. |
Advanced queue management for collection teams is a standard feature for large servicers. | |
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Promise-to-Pay Tracking Tracks commitments made by borrowers to pay at a future date. |
Tracks promise-to-pay and other borrower commitments for payment resolutions. | |
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Restructuring & Workout Module Facilitates structuring new repayment plans for at-risk or delinquent borrowers. |
Loss mitigation tools in MSP support formal restructuring and workout plans. | |
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Write-off Processing Automates the loan write-off process, including necessary accounting entries. |
MSP automates loan write-off processes including GL and reporting impacts. | |
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Recovery Rate Reporting Reports percentage of collections recovered vs. delinquent balances. |
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System provides reporting tools to show recovery rates on delinquent/charged-off loans. | |
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Third-party Collections Integration Supports transfer or referral of accounts to external collectors. |
MSP supports transferring nonperforming loans to external third-party collection agencies. | |
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Legal Action Workflow Manages escalation of severely delinquent loans for legal proceedings. |
Platform manages and escalates legal processes for default and foreclosure per regulatory requirements. | |
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Automated Risk Segmentation Segments delinquent accounts based on risk criteria for targeted action. |
Utilizes comprehensive borrower risk segmentation and collections processes for targeted action. | |
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Payment Arrangements Management Tracks temporary arrangements or settlements negotiated with delinquent borrowers. |
Tracks, manages, and reports on payment arrangements for borrowers in delinquency. |
Reporting and Analytics
(9 Yes /9 Known /10 Possible features)
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Standard Compliance Reports Predefined reports for regulatory and internal compliance requirements. |
MSP provides standard regulatory compliance reporting (e.g., CFPB, GSEs, HUD). | |
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Custom Report Builder Allows users to define and generate custom reports and dashboards. |
Supports custom report creation and user-defined dashboards. | |
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Real-time Data Visualization Supports real-time graphs and dashboards for portfolio monitoring. |
Features include real-time dashboards and graphical reporting on portfolios. | |
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Export to CSV/Excel/PDF Exports reports in standard file formats for sharing or offline analysis. |
Allows export of reports to CSV, Excel, and PDF formats. | |
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Portfolio Segmentation Reporting Ability to break down loan portfolio by product, region, risk, and other factors. |
Portfolio breakdowns (by investor, region, product, risk) are standard system reports. | |
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Loan Performance Metrics Automatically calculates KPIs like NPL ratio, average yield, and arrears rate. |
Automatically calculates portfolio metrics such as delinquency, loss, and yield. | |
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Trend Analysis Tracks portfolio changes and performance over time. |
Tracks portfolio status and metrics over time for trend analysis. | |
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Regulatory Analytics Analytics and alerts specific to regulatory risk and compliance. |
Includes analytics and built-in alerts for regulatory risk. | |
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Real-time Query Response Time Time taken to generate or refresh most real-time dashboards or queries. |
No information available | |
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Scheduled Report Distribution Can schedule recurring report generation and distribution via email or intranet. |
Enables scheduled batch and recurring report distribution. |
Integration and Interoperability
(9 Yes /9 Known /10 Possible features)
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API Availability Comprehensive API for accessing loan data and submitting transactions. |
Offers a comprehensive set of APIs for data access and submissions. | |
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Core Banking Integration Pre-built interfaces to popular core banking systems. |
Provides pre-built interfaces with major core banking platforms and servicers. | |
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Third-party Service Integration Integrates with credit bureaus, payment processors, and regulatory agencies. |
Integrates with third-party sources such as credit bureaus, regulators, and payment processors. | |
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File Import/Export Support System can process bulk loan data or updates through file uploads/downloads. |
Supports file import/export for bulk data processing, onboarding, and batch updates. | |
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Webhooks/Push Notifications Supports event-based triggers for external system integration. |
Platform supports push notifications and webhooks for external integration. | |
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Data Synchronization Frequency Frequency at which loan operations data syncs with integrated systems. |
No information available | |
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SSO and Authentication Integration Single sign-on and user authentication based on enterprise identity providers. |
Integrates with SSO/enterprise authentication and directory services. | |
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Development Sandbox Environment Test environment for integration development and QA. |
Has sandbox and non-prod environments for testing and QA by clients and partners. | |
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Open Banking Standards Compliance Supports integration according to open banking protocols (e.g. PSD2). |
Integrates with open banking protocols and adheres to PSD2/OpenAPI where required (not universal in US, but Black Knight serves multinational banks). | |
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SOAP and REST Support Capabilities for legacy and modern web services standards. |
Supports both REST and legacy SOAP web service integration. |
Risk and Compliance Management
(10 Yes /10 Known /10 Possible features)
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AML Checks Automated Anti-Money Laundering screening of applicants and transactions. |
MSP supports AML checks as part of compliance modules and interfaces. | |
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Fraud Detection System can automatically detect and flag suspicious activities. |
Fraud detection routines and AML red flags are integrated in the servicing workflow. | |
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Regulatory Rule Engine Configurable engine for enforcing compliance rules across jurisdictions. |
MSP provides configurable compliance rules engine for federal, state, and investor requirements. | |
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Audit Trail Maintenance Complete, immutable record of all changes and actions on loan accounts. |
Immutable audit trails are maintained for every action relevant to compliance/audit. | |
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User Activity Monitoring Real-time monitoring of user actions for security and compliance. |
User actions are monitored in real-time for security and compliance violations. | |
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Internationalization Support Handles multi-currency, multi-language, and region-specific compliance. |
Multi-currency and region-specific compliance handling is available; multi-language support at servicing level. | |
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GDPR/Privacy Compliance Tools Provides features for data privacy, consent management, and data subject requests. |
System provides GDPR/privacy-compliance tools for data handling and data subject requests. | |
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Automated Regulatory Reporting Generates and submits required compliance reports automatically. |
Regulatory reporting modules support automation for submission to agencies. | |
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Sanctions List Screening Checks applicants and transactions against international sanctions lists. |
Supports sanctions screening against government and international lists as per compliance rules. | |
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Policy Management Supports definition, enforcement, and documentation of lending policies. |
Policy management modules are included for defining and enforcing lending/servicing policies. |
Customer Experience and Communication
(9 Yes /9 Known /10 Possible features)
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Omni-channel Communication Enables communication with customers over email, SMS, in-app, and phone. |
MSP supports multi-channel communication with borrowers including letters, emails, and secure messages. | |
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Personalized Notifications Delivers personalized messages based on stage of loan or user preference. |
Personalized notifications are configurable by account and borrower status. | |
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Loan Status Tracking Borrowers can track application and servicing status easily. |
Loan status tracking available via portals and customer service for borrowers. | |
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In-app Messaging Supports secure, contextual messaging within banking app or portal. |
Secure in-app messaging and communication is provided via servicer portals. | |
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Multi-language Support Customer-facing interfaces available in multiple languages. |
Multi-language borrower interfaces are available for customer portals. | |
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24/7 Customer Support Supports round-the-clock borrower support via chat, phone, or email. |
24/7 support via online portals; additional live support tiers depend on servicer agreement. | |
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Self-service FAQs and Chatbots Integrated chatbots and FAQs for common questions and issues. |
Built-in knowledge bases and chatbot/automated FAQ tools available with MSP portals. | |
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Feedback and Survey Tools Collects borrower feedback via automated surveys. |
Feedback and survey collection is integrated in borrower portals. | |
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Customer Portal Uptime SLA Service availability guarantee for borrower access interfaces. |
No information available | |
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Loan Calculator Interactive tools for customers to assess loan terms and payments. |
Loan calculators and similar customer-facing tools are provided in the servicing portals. |
Security and Data Protection
(9 Yes /9 Known /10 Possible features)
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Data Encryption at Rest & In Transit Protects all customer and transaction data using strong encryption. |
All customer data is encrypted at rest and in transit (as stated by Black Knight in security documentation). | |
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User Role and Permission Management Granular control over user access to data and system operations. |
Includes granular role-based user permissions and entitlements management. | |
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Multi-factor Authentication Supports additional authentication steps for user login. |
Multi-factor authentication available as a security option for users. | |
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Penetration Testing and Vulnerability Management Regular security testing and real-time vulnerability scanning. |
Regular external penetration and vulnerability scanning performed as part of compliance. | |
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Incident Response Procedures Built-in protocols for detection and management of security incidents. |
Incident response protocols included in the servicing platform's compliance and audit documentation. | |
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Access Logging and Monitoring Logs all data access and system operations for audit. |
Comprehensive user activity, access, and operation logs are maintained. | |
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Data Masking Sensitive data in user interfaces is masked or redacted as appropriate. |
Sensitive information is masked/redacted in UI and report outputs as per security standards. | |
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Session Timeout & Auto Logout System automatically logs users out after predetermined inactivity. |
Session timeout and automated logout after inactivity are enforced. | |
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Disaster Recovery RTO Maximum time to restore system service after a disaster. |
No information available | |
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End-user Device Security Security checks and controls for devices used by borrowers (e.g., mobile app integrity). |
Device integrity and end-user device security checks are part of the MSP mobile and portal solutions. |
Scalability and Performance
(5 Yes /5 Known /10 Possible features)
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Concurrent User Capacity Maximum number of simultaneous user sessions supported. |
No information available | |
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Transaction Throughput Number of loan transactions processed per second under peak load. |
No information available | |
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Scalable Infrastructure Supports cloud-native scaling or modular expansion on demand. |
MSP offers cloud and modular deployments with scalable, resilient infrastructure supported by Black Knight. | |
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Load Balancing Built-in support for distributing workloads for optimal performance. |
Load balancing and workload distribution are built into the cloud deployment model and for on-premise clients. | |
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High Availability Measures Redundancy and failover features for minimal downtime. |
High availability (HA) is offered via failover, redundancy, and disaster recovery capabilities. | |
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Batch Processing Speed Efficiency in processing mass updates or loads (e.g. end-of-day settlements). |
No information available | |
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Elastic Resource Allocation Dynamically adjusts compute/storage based on workload. |
Elastic resource allocations available for cloud clients (scaling up or down as usage changes). | |
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Latency for Key Operations Time taken for key user operations (e.g., disbursement). |
No information available | |
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Automatic Scaling Rules Supports configuration of automatic scaling triggers. |
Automatic scaling rules can be configured in the cloud-based MSP environment. | |
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Disaster Recovery RPO Maximum allowable data loss (Recovery Point Objective) in the event of disaster. |
No information available |
Product Configuration and Customizability
(8 Yes /9 Known /10 Possible features)
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Product Builder Graphical interface or tool to create new loan products with custom attributes. |
Not as far as we are aware.* MSP is focused on servicing existing loans, not product origination or graphical loan product design. Product builder functionality not relevant to servicing. | |
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Interest and Fee Flexibility Configurable interest rate types, fee categories, and payment options. |
Configurable fee and interest schedules are fully supported on the MSP servicing platform. | |
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Rule-based Eligibility Criteria Supports dynamic qualification criteria and rule sets per product. |
No information available | |
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Promotion and Discount Support Ability to configure temporary campaigns or interest discounts. |
Servicing fees, promotions for loss mitigation, and interest discounts are configurable in MSP. | |
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Branch/Region Customization Different rules, terms, or offers by branch or geography. |
Custom rules for different investors, branches, or regions are supported. | |
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Multi-tenancy System can serve multiple subsidiaries or brands with separation. |
Multi-tenancy support; MSP enables separate brands/subsidiaries for larger FI clients. | |
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Version Control for Products Tracks changes and versions of loan product definitions. |
Product/servicing configuration changes are tracked, including versioning/auditing. | |
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Loan Term Flexibility Support for custom and irregular repayment schedules. |
Flexible payment schedules for workouts, loss mitigation, and payment plans are built in. | |
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Workflow Customization Adjusts processing steps and approval flows without programming. |
Servicing workflow customization (queue logic, escalation, notifications) is available. | |
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Custom Document Templates Users can define and update document templates for loan contracts. |
Customizable templates for letters and documents to borrowers are provided. |
Deployment & Maintenance
(8 Yes /8 Known /10 Possible features)
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Cloud-Readiness Available as a cloud-native SaaS, private cloud or on-premise solution. |
Offered as a SaaS platform and supports private cloud and on-premise deployments. | |
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Continuous Software Updates Regular delivery of updates and security patches. |
Service is updated regularly; Black Knight maintains continuous patch and update schedules. | |
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Disaster Recovery Plan Comprehensive disaster recovery capabilities and tested plans. |
Comprehensive, tested disaster recovery plans are required and provided for mortgage servicing systems. | |
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Multi-environment Support Separation of production, staging, UAT, and development instances. |
Supports multiple separated environments for production, staging, UAT, and development. | |
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Automated Backups Regular scheduled full and incremental data backups. |
Regular automated backups and data replication are standard and highlighted in technical documentation. | |
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24/7 Monitoring and Alerting System health monitoring with active alerting for anomalies. |
System health monitoring and 24/7 alerting is standard for Black Knight's MSP SaaS clients. | |
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Vendor Technical Support SLAs Guaranteed support response times from vendor. |
No information available | |
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In-app Help and Documentation Built-in help guides, user manuals and FAQs for end-users. |
In-app user help and online documentation is available for clients and end users. | |
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Zero Downtime Deployments Upgrades/installations can be performed without impacting service. |
No information available | |
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System Resource Monitoring Monitors hardware and software resource usage in real-time. |
Detailed system resource and usage monitoring provided via admin console. |
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