The company that previously operated as Lender Processing Services Inc. reported record activity for year-end processing performed for loan servicers.
LPS was acquired late last year by its former parent Fidelity National Financial Inc. and consolidated with ServiceLink Holdings LLC.
Last month, Jacksonville, Fla.-based Fidelity announced that the combined entities were re-branded as Black Knight Financial Services Inc.
On Wednesday, Black Knight reported that its servicing and default technology division completed year-end 2013 loan processing for its 60 mortgage and consumer loan servicing clients on Jan. 1.
Among its clients is Quicken Loans Inc.
Processing helps servicers with loan information needed to report to borrowers as required by the Internal Revenue Service and other government agencies.
“The year-end processing of loans is a vitally important annual project,” the news release said. “Black Knight employees from various departments across the company must complete hundreds of tasks to help servicers compile loan information; generate exception and balancing reports; and create annual statements for mortgagors.”
Processing was completed on 41 million loans — an all-time high, the statement said.
