By Jacob Passy July 21, 2016
The Department of Veteran Affairs has renewed its contract with Black Knight Financial Services, the Jacksonville, Fla.-based company said Thursday.
The VA has had a contract since 2008 to use the VA Loan Electronic Reporting Interface created by Black Knight. The web-based reporting application was developed for the VA to monitor more than 2.5 million loans the department guarantees.
“We have used VALERI to help more than 530,000 veterans, active-duty service members and their families since we went live in 2008,” Michael Frueh, director of the Department of Veteran Affairs loan guaranty program, said in a news release.
VA loan servicers use VALERi to report significant events to the agency such as when a borrower becomes delinquent or when a loan modification is approved.