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ALABAMA
Regions Bank Chooses LoanSphere for Servicing, Originations
Regions Bank, a top-20 U.S. bank based in Birmingham,
Alabama, renewed its agreement to use LoanSphere MSP on its
first-mortgage loans and will also be converting home equity loans
and lines over to LoanSphere MSP.
MSP, an end-to-end mortgage and home equity loan
servicing system, is part of Black Knight Financial Services'
LoanSphere platform. MSP manages workflow for loan boarding,
payment processing, escrow, and default. Currently, MSP is used to
service more than 30 million active loans, according to Jacksonville,
Florida-based Black Knight.
"We look forward to providing an enhanced experience for our
customers and increasing our operational efficiencies by servicing
our home equity loans and lines on the same MSP platform as
our first mortgages," said Todd Chamberlain, EVP of Consumer
Lending Support Services at Regions Bank.
e bank will also begin using LoanSphere's Empower loan
origination system to originate home equity loans.
"MSP's integration with the Empower loan origination system
offers us functionality and scalability through the entire loan life-
cycle as we continue to grow both our originations and servicing
portfolios," Chamberlain said.
With the decision to use MSP and Empower for first mortgage
and home equity loans, Black Knight designated Regions Bank a
Black Knight Enterprise Client.
"Regions is a valued Enterprise customer, and we appreciate
the opportunity to continue providing them with premier capa-
bilities to support their growth and serve their customers," said
Joe Nackashi, President of Black Knight's Servicing Technolo-
gies division. "As a leading FinTech, we're extremely proud that
Black Knight's ability to service first mortgages and home equity
products on a single platform will help Regions Bank effectively
manage its operations."