MReport April 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | M R EP O RT MTECH Opportunities Abound News of new technology, processes, automation, and a $2.5 billion commitment to housing are opening doors for the industry. Black Knight, Quicken Loans Broaden Relationship SOFTWARE USED TO MEET THE NEEDS OF TODAY'S MORTGAGE CUSTOMERS. B lack Knight, Inc. and Detroit-based Quicken Loans, announced the companies have broadened their relationship as Quicken Loans extended its contract for Black Knight's MSP servicing system and is adding multiple Black Knight solutions. Additionally, Black Knight purchased the source code for Quicken Loans' "Cyclops" mortgage servicing customer relationship management (CRM) software. The Cyclops software pro- vides a number of tools Quicken Loans uses to meet the needs of today's mortgage consumers. This software suite will serve as the foundation for a highly advanced customer service solution that Black Knight will be offering to clients of its industry-leading MSP servicing system. "After decades of disruption, this acquisition is further proof of our technology team's power and innovation," said Jay Farner, CEO of Quicken Loans. "Our focus is always on our clients and how we can make their experience easier and more transparent. Our success comes from groundbreak- ing technology and the stream- lined processes it can provide. We are looking forward to Cyclops benefiting even more consumers with the industry-leading client service the tool can facilitate." Upon launch, this advanced software from Black Knight will include highly personalized infor- mation about loans, homes, and neighborhoods. By accessing the home's value, a customer service professional can present refinance and home equity opportunities to borrowers. This solution will give professionals the ability to provide an omni-channel customer experi- ence, whenever and however the customer wants to interact with their servicer, which will result in

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