- The renewal of Black Knight's LendingSpace LOS offers extensive scalability to accommodate PennyMac's correspondent strategy.
- PennyMac will also use Black Knight's indexing services to help with accurately placing scanned document images into LendingSpace.
JACKSONVILLE, Fla., Nov. 9, 2015 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE: BKFS) announced today that PennyMac Loan Services, LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI), one of the top correspondent aggregators in the U.S., has signed a five-year extension for Black Knight's LoanSphere LendingSpace loan origination system (LOS) to support its correspondent aggregation operations. PennyMac will also use Black Knight's indexing services, which provide a dedicated, highly trained team to sort and properly index scanned loan-related documents into the correct online folders for PennyMac's loan professionals to easily find the information they need.
"LendingSpace has made PennyMac's operations even more efficient, while helping us meet evolving compliance requirements," said Jim Follette, PennyMac's chief mortgage fulfillment officer. "As one of the top correspondent aggregators in the United States, we need systems that are both scalable and stable, and LendingSpace delivers on both counts. Additionally, the ability to configure LendingSpace to meet our unique business requirements provides PennyMac a competitive edge, and we are looking forward to continuing our partnership with Black Knight."
"As lenders increase their focus on the correspondent market, Black Knight can help them take advantage of this growth opportunity with a platform specifically designed to deliver all the functionality needed to effectively support the loan review and purchase process," said Jerry Halbrook, president of Black Knight's Origination Technologies division. "PennyMac is realizing the benefits of using multiple Black Knight technologies to support its operations across the loan lifecycle to improve efficiencies and reduce risk."
About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. PennyMac Financial Services, Inc. trades under the ticker symbol "PFSI" and is headquartered in Moorpark, California. Additional information about PennyMac Financial Services, Inc. is available at www.IR.PennyMacFinancial.com.
About LoanSphere
LoanSphere is Black Knight's premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight's LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance. Black Knight LoanSphere Enterprise clients use at least three of the company's integrated technology applications and data offerings across the loan lifecycle to gain the exponential value of using multiple Black Knight solutions.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to 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.
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SOURCE Black Knight Financial Services, Inc.
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