Black Knight announced Monday the development of LoanSphere Servicing Digital, a consumer-facing platform that allows homeowners to make and view mortgage payments, access loan information and explore options for building equity quicker, paying their balance faster or refinancing their loan.
The desktop and mobile-friendly platform, which is scheduled to officially launch in Sept. 2018, also allows homeowners to view the latest neighborhood information, such as recent sales, local school data and demographics, as well as transaction and lien history.
“Our goal with LoanSphere Servicing Digital is to give our servicing clients an engaging, consumer-centric tool for customer retention,” Black Knight Anthony Jabbour said in a statement. “For many people, a house is the single greatest asset they’ll ever own.”
“With that in mind, and employing a ‘design thinking’ approach, we’ve developed a solution that lets our clients provide their customers with ongoing, detailed information about their loans and homes, as well as the tools to help manage the wealth they have built in their homes,” Jabbour added.
Black Knight is able to provide personalized suggestions by culling customer data from the company’s end-to-end LoanSphere MSP system, proprietary property records database, advanced analytics and automated valuation models (AVMs).
Beyond making the mortgage process easier for homeowners, Black Knight president Joe Nackashi said LoanSphere Servicing Digital will help mortgage servicers bolster engagement and retention rates because they’re able to provide on-the-spot assistance to consumers.
“Increasing engagement and providing tools that add value are key to deepening the servicer-customer relationship,” Nackashi said in a press release.
“By providing anytime, anywhere access to an array of customer-specific information and functionality, LoanSphere Servicing Digital enhances the consumer’s servicing experience and adds value on an ongoing basis, which results in higher retention rates.”