Mobile and web versions of the product will be offered
Black Knight has announced the launch of LoanSphere Servicing Digital, a tool that aims to help mortgage servicers increase customer retention by delivering detailed, timely, and highly personalized information.
The offering can be branded to match the servicer’s brand identity. It will be offered in mobile and web versions.
By focusing on the consumer, the interactive LoanSphere Servicing Digital tool offers servicers a platform to continuously engage with their customers. The tool also allows customers to find information and perform tasks related to their mortgages.
Customers can access specific information about their mortgages, such as type of loan, interest rate, and estimated PMI drop date. The tool also allows customers to explore what-if scenarios, such as opportunities for building equity more quickly or the potential benefits of paying down or refinancing their loan.
LoanSphere Servicing Digital also includes neighborhood information, such as recent sales, local school data, and demographics, as well as transaction and lien history on the property. The tool further allows customers to make payments, view detailed payment history, and perform other self-service functions within the application.
The tool is powered by Black Knight’s LoanSphere MSP system, through which it draws upon the servicer’s data. The company also draws upon its property records database, advanced analytics, and automated valuation models for the offering.
“Our goal with LoanSphere Servicing Digital is to give our servicing clients an engaging, consumer-centric tool for customer retention,” Black Knight CEO Anthony Jabbour said. “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.”