Black Knight

Black Knight, Inc. engages in the provision of integrated software, data and analytics solutions. It operates through the Software Solutions, and Data and Analytics segments. The Software Solutions segment offers software and hosting solutions that support loan servicing, loan origination, and settlement services. The Data and Analytics segment caters to the mortgage, real estate, and capital markets verticals. The firm also serves the credit union, secondary markets, government, home equity, servicing, and title settlement industries. The company was founded in 1962 and is headquartered in Jacksonville, FL.

Earnings data Q2 2024

Intercontinental Exchange

Intercontinental Exchange (ICE) completed its $11.9 billion purchase of software, data, and analytics company Black Knight (BKI) after federal regulators dropped their opposition to the deal.

ICE Completes $11.9 Billion Acquisition of Black Knight After Settling FTC Concerns

-- The Black Knight HPI hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June -- The reaccelerating annual growth rate was driven as much by the price declines of last July providing a lower starting point as it was by July 2023 gains themselves -- August will likely see further reacceleration in annual growth with prices already up a seasonally adjusted 2.9% from August 2022 and 4.4% from the start of the year -- At the same time, non-adjusted monthly gains fell below their 25-year average after significantly outpacing historical averages from February through June, signaling a slowdown may be underway -- Though prices rose on both seasonally adjusted and non-adjusted levels, after five months of above average gains, July's 0.23% non-adjusted change was smaller than the 25-year average increase of 0.34% for the month -- Seasonally adjusted price gains were observed in 99 of the 100 largest markets in July; however, growth rates cooled with three-quarters of markets experiencing smaller monthly gains than they had in June -- Black Knight transaction and rate lock data both point to slowdowns in demand, with the seasonally adjusted price per square foot on closed sales falling alongside the average non-adjusted purchase price on locked loans -- As extremely tight home affordability could continue to weigh on month-to-month growth, it will be worth keeping a close eye on monthly data trends as we move through Q3 -- With rates at 7.23% as of Aug. 24, the P&I payment to purchase the median-priced home using a 20% down, 30-year fixed-rate mortgage had risen to $2,423 – a 91% increase over just the past two years -- It now takes 38.3% of the median household income to make the monthly payment on the median-priced home purchase, making housing the least affordable that it's been since 1984 JACKSONVILLE, Fla. , Aug. 31, 2023 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released a high-level summary of the latest Home Price Index for July 2023.

Black Knight HPI for July 2023: Annual Growth Rate Accelerates as Home Prices Set New Record High, Though Mixed Signals Suggest Market May Be Shifting

-- Fahe (Federation of Appalachian Housing Enterprises), a nonprofit that serves the people and communities of Appalachia, has signed a contract for the MSP loan servicing system -- MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default -- Fahe will also use Black Knight's default suite of solutions to help manage loss mitigation processes and streamline the handling of nonperforming loans, as well as the Servicing Digital solution to enhance interactions and support retention -- The servicer will also implement the Actionable Intelligence Platform for strategic, proactive and actionable analytics, as well as McDash industry reports for mortgage performance data JACKSONVILLE, Fla. , Aug. 29, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that Fahe, a nonprofit that serves the people and communities of Appalachia, has signed a contract for the MSP loan servicing system.

Nonprofit Fahe Selects MSP, Black Knight's Loan Servicing System, to Support its Commitment to Regional Housing

ATLANTA & JACKSONVILLE, Fla.--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE) and Black Knight, Inc. (NYSE: BKI) today announced that they have entered into an Agreement Containing Consent Orders (the “ACCO”) with the Bureau of Competition of the Federal Trade Commission (the “FTC”) regarding ICE's pending acquisition of Black Knight. The ACCO contains an agreed form of consent order that will be submitted to the FTC for acceptance and approval. Pursuant to the previously announced.

Intercontinental Exchange and Black Knight Announce Entry into Agreement Containing Consent Orders with FTC's Bureau of Competition

While the national delinquency rate edged up 9 basis points in July to 3.21%, it was down 12 basis points year over year and remains within 12 basis points of March's record low Meanwhile, serious delinquencies (90+ days past due) continued to improve, falling to 468K – the lowest level seen since the pre-Great Financial Crisis housing market peak and down 161K (-26%) from July 2022 30-day delinquencies rose by 35K in the month, with 60-day delinquencies rising by 17K (6.4%) – while those 90+ days past due fell by 3K (-0.6%) Loans in active foreclosure fell to 220K – the fewest since just after the end of federal foreclosure moratoria – and remain down 63K (-22%) from February 2020, prior to the pandemic July's 26.3K foreclosure starts were 4% below the average number of such actions over the preceding 12 months and remain 39% below pre-pandemic levels Foreclosure starts equated to 5.6% of 90+ day delinquencies – still more than three percentage points below pre-pandemic foreclosure referral rates – while July's 6.1K foreclosure sales (completions) nationally were down 11% from June Prepayment activity fell under easing seasonal home buying pressure along with interest rates briefly rising above 7% and ending July at 6.88%, with prepayments still down 28% from July 2022 JACKSONVILLE, Fla. , Aug. 23, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at July 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight's First Look at July Mortgage Performance Data: Foreclosure Inventory Hits Lowest Level in 15 Months, While Serious Delinquencies Continue to Decline

System Will Support Growth and Deliver a Premier Customer Experience as AimLoan Begins Servicing its Portfolio AimLoan completed its implementation of the MSP servicing system and will use it to help them manage their mortgage portfolio in-house After evaluating multiple servicing systems, AimLoan selected MSP because the single platform encompasses all aspects of servicing, from loan boarding to default The internet-direct lender is also using additional Black Knight solutions to support its servicing operations, including the consumer-focused Servicing Digital and Customer Service solutions and its suite of default solutions, including Loss Mitigation JACKSONVILLE, Fla. , Aug. 16, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that AimLoan, an internet-direct mortgage lender focused on using technology to deliver savings, transparency and convenience to mortgage customers, has successfully implemented the Black Knight MSP loan servicing system to help them manage their mortgage loan portfolio in-house.

AimLoan Completed Successful Implementation of MSP, Black Knight's Loan Servicing System

According to the Optimal Blue Mortgage Market Indices, 30-year conforming rates crossed 7% for the first time since November 2022, before falling sharply and then rebounding to 6.88% Overall rate lock volumes were down 7% month over month in July, with purchase lending continuing to make up the vast amount of lock volume, accounting for 88% of total lock activity Even so, purchase lock counts were down 27% year over year and 35% compared to 2019 pre-pandemic levels, as higher interest rates and persisting low inventories dampened demand As reported in Black Knight's most recent Mortgage Monitor report, signs of credit tightening have been seen in July locks in rising down payments, falling loan-to-value ratios and higher credit scores Average purchase price edged lower to $456K, with an average loan amount of $358K in July as we move past the historically typical June pricing peak The average credit score among primary residence purchase locks hit a record high in the first week of July before edging modestly lower to remain flat in July Adjustable-rate mortgages (ARMs) fell to 6.79% of July's rate lock activity, as rates for such products became less competitive against fixed products JACKSONVILLE, Fla. , Aug. 14, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through July 2023 month-end.

Black Knight Originations Market Monitor: Mortgage Rate Lock Activity Falls as Rates Top 7% for First Time Since November 2022; Signs of Credit Tightening Persist

The Black Knight Home Price Index (HPI) hit an all-time high in June, this time on both seasonally adjusted (SA) and unadjusted levels, with nearly every major market experiencing month-over-month growth Prices have now reached new peaks in 30 of the 50 largest markets, with several northeastern metros currently 5-8% above 2022 highs Home prices rose by +.67% (SA) month-over-month in June, while after slowing for 14 consecutive months, the annual growth rate rose to +0.8% in June, up from a revised +0.2% in May Broadly speaking, annual growth is strongest among Midwest and Northeast markets, while West Coast and pandemic boom markets continue to see prices run below last year's levels Despite overall outstanding mortgage debt surpassing $13T for the first time ever, home price growth has also pushed homeowner equity levels back to within 3% of 2022 peaks Total mortgage holder equity topped $16T again in June, with tappable equity – the amount that can be accessed while retaining a 20% equity stake – climbing to $10.5T, within $434B (4%) of 2022 peaks While the number of underwater homeowners is up nearly 70% from last year, it remains 52% below 2019 levels, with just 344K (0.65%) of mortgage holders nationwide currently owing more than their home is worth JACKSONVILLE, Fla. , Aug. 7, 2023 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its August 2023 Mortgage Monitor Report, based on the company's industry-leading mortgage, real estate and public records data sets.

Black Knight: Home Prices Hit New Record Highs in 60% of Major Markets as Annual Growth Rate Rises, Boosting Homeowner Equity Levels

ATLANTA & NEW YORK & JACKSONVILLE, Fla.--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE) and Black Knight, Inc. (NYSE: BKI) announced today that, amid progress toward a potential resolution, they have jointly stipulated, along with the Federal Trade Commission (FTC), to dismiss the preliminary injunction proceeding in the United States District Court seeking to block the close of ICE's previously announced acquisition of Black Knight. The joint stipulation dismisses the federal cou.

Intercontinental Exchange, Black Knight and the Federal Trade Commission Jointly Agree to Dismiss Federal Court Case, Pending Settlement Negotiations

Black Knight (BKI) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.65 per share a year ago.

Black Knight (BKI) Q2 Earnings and Revenues Lag Estimates

JACKSONVILLE, Fla. , Aug. 3, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced unaudited financial results for the second quarter and the six months ended June 30, 2023, as compared to the prior year periods.

Black Knight Reports Second Quarter 2023 Financial Results

Mortgage Clearing Corporation (MCC) has signed a contract to use MSP, Black Knight's comprehensive loan servicing system that encompasses all aspects of servicing, from loan boarding to default The Oklahoma-based originator and servicer will also use the Black Knight Servicing Digital solution to extend digital, self-service capabilities to its customers MCC will also implement the advanced Black Knight Loss Mitigation solution to help streamline processes and reduce risk, as well as use the company's McDash industry reports that provide comprehensive mortgage performance data JACKSONVILLE, Fla. , Aug. 2, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that Mortgage Clearing Corporation (MCC), a privately owned, full-service mortgage origination and servicing company based in Oklahoma, has signed a contract for the MSP loan servicing system.

Mortgage Clearing Corporation Selects MSP, Black Knight's Loan Servicing System, to Help Reduce Risk, Gain Operational Efficiencies and Deliver Digital Capabilities to Consumers

Inching up 2 basis points from May, the national delinquency rate continues to hover near recent record lows, with June's marking the third lowest level on record The number of serious delinquencies (loans 90+ days past due) dropped to 471K -- the lowest since August 2006 -- and a 177K (-27%) improvement from June 2022 Early-stage delinquencies (30-days late) increased by 19K (+2.2%), while borrowers who've missed two payments (60-days past due) ticked up by 5K (+1.7%) Foreclosure starts also increased slightly to 28K for the month -- just 1% above the preceding 12-month average and still 38% below the June 2019's pre-pandemic level Foreclosure was started on 5.8% of serious delinquencies in June, up from 5.1% in May but still three percentage points below the start rate in May 2019 before the onset of the pandemic The number of loans in active foreclosure shrunk another 5K in June and is still down 47K (-17%) from March 2020; meanwhile, June's 6.9K foreclosure sales (completions) marked a 1.5% increase from May JACKSONVILLE, Fla. , July 21, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at June 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight's First Look: Seriously Delinquent Mortgages Hit Lowest Level Since 2006; Prepayments Trended Seasonally Higher in June Despite Elevated Interest Rates

JACKSONVILLE, Fla. , July 20, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, today announced it will report its second quarter 2023 financial results on Thursday, August 3, 2023, at approximately 7:30 a.m.

Black Knight to Report Second Quarter 2023 Financial Results on August 3, 2023

ICE and Black Knight are selling Black Knight's Optimal Blue business to comply with regulatory concerns about ICE's purchase of Black Knight.

ICE and Black Knight Sell Optimal Blue Business to Comply With Regulator Concerns

Black Knight Inc.'s BKI, +0.07% stock was up 14% in premarket trades on Monday after the company said it agreed to sell its Optimal Blue unit for $700 million to Constellation Software Inc. CSU, +0.52% as part of its pending merger with InterContinental Exchange ICE, +0.40%. The two companies had agreed to divest Optimal Blue as part of their $13.1 billion merger announced in May, 2022, to win regulatory clearance for the deal.

Black Knight stock rallies as it agrees to sell Optimal Blue unit to clear way for ICE merger

ATLANTA & NEW YORK & JACKSONVILLE, Fla.--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE) and Black Knight, Inc. (NYSE: BKI) today announced that, in connection with their previously announced merger agreement for ICE's acquisition of Black Knight, they have agreed to sell Black Knight's Optimal Blue business to a subsidiary of Constellation Software Inc. (TSX: CSU). Under terms of the divestiture agreement, Constellation will acquire Black Knight's Optimal Blue business for $700 mi.

Intercontinental Exchange and Black Knight Announce Agreement to Sell Black Knight's Optimal Blue Business to Constellation Software Inc.

TORONTO, July 17, 2023 (GLOBE NEWSWIRE) -- Constellation Software Inc. (“Constellation”) (TSX: CSU) today announced that its Perseus operating group has entered into a binding commitment with Intercontinental Exchange, Inc. (NYSE: ICE) and Black Knight, Inc. (NYSE: BKI) to acquire Black Knight's Optimal Blue business.

Constellation Software's Perseus Group Enters into Agreement to Acquire Black Knight's Optimal Blue Business

- Black Knight data confirms that the vast majority of borrowers in forbearance – during both the pandemic and more localized disaster events – ultimately return to performing status- A multi-year analysis of servicers that offer self-service technology (SST) to their customers to seek assistance, including forbearance, reveals that many embraced the option when offered- SST is a low-stress, always-on option for borrowers that provides visibility into the loss mitigation process, improving communication and often accelerating servicer response for an ultimately improved outcome JACKSONVILLE, Fla. , July 13, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of a complimentary case study illustrating how self-service technology (SST) deployed by loan servicers during natural disasters can improve loss mitigation outcomes.

Black Knight: Case Study Highlights Servicer Success Using Self-Service Loss Mitigation Technology to Connect With and Engage Borrowers in Times of Financial Distress

The Optimal Blue Mortgage Market Indices (OBMMI) showed 30-year conforming rates rose 6 basis points in June to 6.78% Overall rate lock volumes were down 1% month over month in June, with conforming loans gaining share mainly at the expense of nonconforming loan products Purchase lock counts were down 31% year over year and 29% compared to pre-pandemic levels in 2019, as higher interest rates and low inventories continued to have a chilling effect on demand While purchase lending remains constrained, it continues to drive the overwhelming majority of volume, accounting for more than 88% of June rate locks – a record high The average purchase price rose for the seventh consecutive month to $457K, while the average loan amount remained flat at $360K Credit scores rose across the board again in June – as economic uncertainty, tightening credit and affordability concerns continued to skew the market toward higher-credit borrowers At 735, the average credit score among purchase locks hit a record high in June, with the average credit score among rate/term refinances jumping 7 points in the month The adjustable-rate mortgage (ARM) share of June lock activity fell to 7.38% The 10-year Treasury yield rose 17 basis points in June to 3.81%, as the spread with mortgage rates remains historically wide at 2.97% JACKSONVILLE, Fla. , July 12, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through June 2023 month-end.

Black Knight Originations Market Monitor: Mortgage Locks Edge Lower in June While Credit Availability Continues to Tighten

The seasonally adjusted Black Knight Home Price Index (HPI) hit a new record high in May, with the pullback in prices late last year having now fully reversed itself Twenty-seven of the 50 largest markets – primarily in the Midwest and Northeast – have returned to their prior home price peaks, or set new highs this spring Marking the fifth consecutive month of gains, May's 0.7% seasonally adjusted monthly increase equates to an annualized growth rate of 8.9%, suggesting a coming inflection in annual home price appreciation (HPA) As of May, annual home price growth sat at 0.1%; however, if recent trends hold true, that annual home price growth rate may turn and begin trending higher as early as next month For-sale inventory improved modestly but is still 51% off pre-pandemic levels and remains a massive challenge, putting upward pressure on home prices despite Fed attempts to cool the market via higher rates Inventory levels have decreased in 95% of major markets this year, with the largest swings in Western locales such as Phoenix; Boise, Idaho; Ogden, Utah; San Francisco and Colorado Springs, Colo. Each of these metros had moved into inventory oversupply late last year as sales dried up, but have since swung back more than 30 percentage points year-to-date as compared to pre-pandemic levels Affordability continues to suffer; as of June 22, with 30-year rates at 6.67%, the principal and interest (P&I) payment needed to buy the median-priced home rose to $2,258, marking the highest payment on record Nationally, it takes 35.7% of median household income to make the average P&I payment; only income growth since fall of 2022 has kept May 2023 from being the most unaffordable month for housing in the past 37 years JACKSONVILLE, Fla.

Black Knight: Housing Market Reignites as Home Prices Hit New Record High in May; Inventory, Affordability Continue to Plague Potential Buyers

Bay Federal chose to implement the Empower LOS and its integrated solutions to benefit from multiple innovative capabilities on a single unified platform provided by a trusted vendor Black Knight's ongoing investments in its technology systems and solutions and ability to support Bay Federal's range of lending products were another important factor in the credit union's decision The Empower LOS is integrated with a variety of automated solutions that will help the credit union increase operational efficiency and member satisfaction JACKSONVILLE, Fla. , June 28, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) announced today that Bay Federal Credit Union, the largest member-owned financial institution in Santa Cruz County, Calif.

Bay Federal Credit Union Selects Empower, Black Knight's Cloud-Based LOS, and its Origination Technologies Suite to Support Both Traditional and Specialized Loan Products

Reversing much pf April's calendar-driven spike, the national delinquency rate fell 11 basis points (bps) in May to hit 3.10% – the lowest it's been other than March 2023's record of 2.92% The number of borrowers a single payment past due improved by 94K (-9.5%), erasing nearly half of the prior month's increase Serious delinquencies (loans 90 or more days past due) continued to improve nationally – falling by 18K (-3.7%) from April, putting the population of such loans down more than 200K (nearly 30%) since May 2022 Though foreclosure starts increased to 25.4K for the month (+2.2%), they remain near April's 6-month low and 41% % below the same period in 2019, the last comparable May before the pandemic Foreclosure actions were started on 5.1% of serious delinquencies in May, up only marginally from April and still more than a full percentage point below the March 2020 rate at the start of the pandemic The number of loans in active foreclosure improved by 4K in the month and is now down 41K (-15%) from March 2020, with foreclosure sales (completions) rising 5.5% from April to 6.8K Prepayment activity rose to a 0.54% single-month mortality (SMM) rate – the highest level seen since September 2022, despite interest rates in the 6.7% range – but is still down 40% from May of 2022 JACKSONVILLE, Fla. , June 23, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at May 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight: Past-Due Mortgages Approach Recent Record Lows as Serious Delinquencies Continue Improvement; Prepayments See Seasonal Rise

The Validate app allows homeowners to submit property photos as part of their application for a home equity line of credit (HELOC) or home equity loan, which helps to expedite the loan approval process Validate uses artificial intelligence to calculate home condition in real time using borrower-supplied photographs Borrower-supplied photographs are time-stamped and verified via GPS to ensure they accurately reflect current property condition and location Subject address is scored against comparable properties using Black Knight Complexity Profiler to create a condition-adjusted valuation model Home equity is calculated using Black Knight's public records data, which deducts any open liens from the AVM value The property value and available equity is immediately transmitted for lender consideration via API or PDF, which helps save borrowers and lenders time and money JACKSONVILLE, Fla. , June 22, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI), announced the launch of Validate, a fast, efficient and easy-to-use mobile application that helps borrowers themselves take part in expediting the valuation and loan approval process, saving time and money for all involved.

Black Knight's New Validate Mobile App for Valuations Uses AI to Speed and Simplify Home Equity Lending, Shorten Time to Close by Shaving Days, Dollars From the Process

The Optimal Blue Mortgage Market Indices showed 30-year conforming rates rose 27 basis points in May to 6.72% after holding between 6.38% and 6.5% for the first half of the month Despite jumbo rates remaining elevated, nonconforming locks (including jumbo and expanded guidelines) gained share relative to all other products in May Overall rate lock volumes were up 14% month over month in May – a consequence of May having two more business days than April – while daily production was up a more modest 4% Purchase lock counts were down 38% year over year and down 29% compared to pre-pandemic levels in 2019, the greatest difference from 2018/2019 yet as rates rose again toward the end of the month While purchase lending remains constrained, it continues to drive the overwhelming majority of volume, accounting for 88% of May rate locks – a record high The average purchase price rose for the sixth consecutive month to hit $454K, while the average loan amount rose to $360K Credit scores of conforming, FHA and VA borrowers rose again in May – indicative of tightening credit standards in an uncertain economic environment – with purchase lock credit scores nearing record highs The adjustable-rate mortgage (ARM) share of May's lock activity climbed to 8.41% as more borrowers sought relief from rising fixed rates late in the month The 10-year Treasury yield rose 20 basis points in May to 3.64%, as the spread with mortgage rates continued to grow, briefly touching a six-year high on May 30 before ending the month at 3.08% JACKSONVILLE, Fla. , June 12, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through May 2023 month-end.

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