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

International Exchange Inc. ICE, -2.35% said Thursday it “strongly disagrees” with the Federal Trade Commission's 4-0 vote to block its acquisition of Black Knight Inc. BKI, -1.95% Earlier, the FTC said the merger of “nation's largest provider of home mortgage loan origination systems and other key lender software tools” and rival Black Knight would “drive up costs, reduce innovation, and reduce lenders' choices for tools necessary to generate and service mortgages.” ICE said the deal would “automate, streamline, and increase transparency” in the mortgage industry.

ICE ‘disappointed' FTC votes to block acquisition of Black Knight

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, announced today that it strongly disagrees with, and will vigorously oppose, the Federal Trade Commission (FTC)'s challenge to ICE's previously announced acquisition of Black Knight, Inc. (NYSE: BKI).

Intercontinental Exchange Responds to the FTC's Attempt to Block ICE's Acquisition of Black Knight

Fidelity National Financial

Renews Agreement for Black Knight MSP Loan Servicing System JACKSONVILLE, Fla. , March 9, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that LoanCare, a top national provider in full-service, component and interim mortgage loan subservicing, will implement the Black Knight Loss Mitigation solution to support payment assistance programs.

LoanCare Will Use Black Knight Loss Mitigation Solution to Help Homeowners Who Need Mortgage Payment Assistance

Black Knight Inc. BKI, +4.18% and Intercontinental Exchange Inc. ICE, +2.49% cut the value of their merger deal by about $1.4 billion on Tuesday after Black Knight said it's selling its Empower loan origination system to Constellation Software Inc. CSU, -1.17% to win clearance for its deal with ICE with U.S. regulators. Black Knight did not provide a purchase price for its Empower loan origination system, which includes Exchange, LendingSpace and Aiva solutions.

Black Knight selling unit to win clearance for acquisition by IntercontinentalExchange

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 Empower loan origination system (LOS) business, including its Exchange, LendingSpace and AIVA solutions, to a subsidiary of Constellation Software Inc. (TSX: CSU).

Black Knight and Intercontinental Exchange Announce Agreement to Sell Black Knight's Empower LOS Business to Constellation Software Inc. and Revised Terms of Merger Agreement

Collateral Analytics data from Black Knight showed January marking the fourth consecutive month of declines in for-sale inventory on a seasonally adjusted basis after seeing strong improvement in shortages early last year Months of supply has stagnated at approximately 3.1 in recent months as falling demand has been met with a weakening inflow of new listings, with 90% of U.S. markets facing growing inventory shortages Though January marked the seventh consecutive month of falling home prices, the month's decline (-0.24% from December; -0.13% on a seasonally adjusted basis) was the smallest yet in that time span Growing supply shortages are holding home prices higher than they otherwise would be given current affordability constraints, as elevated rates continue to lock would-be sellers in place Half of all mortgaged homes have first-lien interest rates at or below 3.5%, a full 3 percentage points below today's market rate, while two-thirds are at 4% or lower Tight affordability continued to dampen demand, as home sales fell to a more than 7-year low in January on a seasonally adjusted basis Buyside activity had perked up when 30-year rates fell to near 6% in early February, but recent data has shown just how sensitive that demand is to rate movements Sharply rising 30-year rates in February have weakened home affordability, with nearly all major U.S. markets remaining unaffordable as compared to their own long-run averages JACKSONVILLE, Fla. , March 6, 2023 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based on the company's industry-leading mortgage, real estate and public records datasets.

Black Knight: Sellers Retreat From the Market, Increasing Inventory Shortage and Buoying Home Prices; Affordability Takes Step Back on Rising Interest Rates

Black Knight (BKI) delivered earnings and revenue surprises of -5.46% and 1.58%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Black Knight (BKI) Q4 Earnings and Revenues Lag Estimates

JACKSONVILLE, Fla. , Feb. 28, 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 fourth quarter and year ended December 31, 2022, as compared to the prior year periods.

Black Knight Reports Fourth Quarter and Full Year 2022 Financial Results

The U.S. Federal Trade Commission is expected to challenge Intercontinental Exchange Inc's $13 billion deal for mortgage software company Black Knight , Politico reported on Monday citing three people with direct knowledge of the matter.

U.S. FTC seeks to block ICE's $13 bln takeover of Black Knight - Politico

With this month's First Look, Black Knight begins applying its expanded McDash loan-level mortgage data set – already available to clients and contributors – to its public performance metrics reporting The enhanced reporting provides additional insight into more than 200M active and historical loan-level mortgage records for even more granular and representative analyses of today's complex market With more than 80 contributors, McDash has even greater coverage of nonbanks and smaller servicing portfolios, providing insight into those loans' performance that was previously difficult to extract The addition of Black Knight's eMBS agency securities data enables more precise market sizing, providing unprecedented clarity into performance across an active mortgage universe of some 52M loans With full history and all performance metrics updated to January 2000, the data enhancements will provide even more informative Black Knight public reporting moving forward January performance data showed a slight decrease (-10 basis points) in the national delinquency rate month-over-month, which is now down 15.1% year over year Foreclosure starts saw a fourth straight increase, but remain 37% below pre-pandemic levels; active foreclosures are up 20% since January 2022, but they too remain nearly 20% below pre-pandemic levels As purchase and refinance lending continue to face interest rate headwinds, prepayment activity hit yet another record low in January, dating back to at least 2000 when Black Knight began reporting the metric JACKSONVILLE, Fla. , Feb. 24, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at January 2023 month-end mortgage performance statistics derived from its newly enhanced and greatly expanded McDash loan-level data set representing more than 60% of active mortgages nationwide.

Black Knight's First Look: Expanded and Enhanced Market Data Shows Mortgage Delinquency Improvement Across the Board in January, Uptick in Foreclosure Starts

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Wolverine World Wide

Michael Burry, the famed investor covered in Michael Lewis' book, “The Big Short,” and portrayed by Christian Bale in a 2015 movie of the same name, released the fourth-quarter 2022 equity portfolio for Scion Asset Management earlier this month.

Michael Burry's Top Buys of the 4th Quarter

GEO Group

Michael Burry gained fame for correctly predicting the crash in the housing market during the great financial crisis.

65.06% of Michael Burry's Portfolio Is in These 4 Stocks

JACKSONVILLE, Fla. , Feb. 16, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced an agreement with Wolters Kluwer Compliance Solutions, a global information services and technology leader, to integrate Wolters Kluwer's eNote and eVault capabilities with Expedite Close, Black Knight's digital closing solution.

Black Knight Signs Agreement to Integrate Wolters Kluwer's eNote and eVault Capabilities to Enhance Black Knight's Digital, End-to-End Mortgage Origination Offering

Qurate Retail Inc

On Jan. 31, hedge fund manager Michael Burry tweeted out a single word that conveyed an ominous and cryptic message: “Sell.” Shortly after, the Scion Asset Management founder deleted his tweet.

8 Stocks Michael Burry Was Betting on Before Cryptic ‘Sell' Warning

Hedge fund legend Michael Burry rose to prominence after making more than $100 million by correctly predicting the subprime mortgage crisis in 2007. In this article, Andrew Rocco will unveil Burry's latest purchases.

3 of "The Big Short's" New Purchases

-- Rate lock volumes rose 32% in January driven by declining rates and seasonal tailwinds, snapping a 9-month streak of declines -- Purchase (+32%) as well as both rate/term (+37%), and cash-out (+25%) refinance volumes increased proportionally, with refinance locks making up 15% of the month's overall activity -- Optimal Blue Mortgage Market Indices from Black Knight showed 30-year rates dropping 36 basis points to 6.16%, continuing a downward trend that began in November 2022 -- Despite the improvement, rate and affordability pressures continue to challenge purchase lending, with the dollar volume of such locks down 44% year over year and 14% below January 2020 levels -- Purchase lock counts – which exclude the impact of home price changes – were down 41% year over year -- Nonconforming loans – including jumbos and expanded guidelines – fell as a percentage of total volumes to just under 10%; conforming (58.5%), FHA (18.5%) and VA (12.4%) all picked up share -- The average loan amount rose from $336K to $340K, while the average purchase price climbed from $419K to $421K -- Credit scores fell 4 points among cash-out refis – now down 36 points over the past 12 months – and 9 points for rate/terms, but remained relatively unchanged (+1 point) for purchase transactions -- The ARM share of lending dropped further in January to just above 8% of total locks, as lower rates pushed borrowers back toward fixed-rate offerings JACKSONVILLE, Fla. , Feb. 13, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through January 2023 month-end.

Black Knight Originations Market Monitor: Rate Locks Rise in January on Rate Relief and Seasonal Tailwinds, Breaking 9-Month Decline

Black Knight is being acquired by Intercontinental Exchange for $68 + 0.144 share. The market is very skeptical about whether the deal will pass muster with regulators.

Black Knight: Why The Market Isn't More Excited About Divestiture News

Mortgage data vendor Black Knight Inc has decided to put its Empower loan origination software business up for sale in an effort to overcome U.S. antitrust concerns over its $13.1 billion proposed acquisition by Intercontinental Exchange Inc , people familiar with the matter said.

Exclusive: Black Knight to shed unit in bid to save $13 bln sale to ICE -sources

While AI/ML is increasingly being used to solve problems in the mortgage industry, as a relatively new technology domain for financial institutions, these tools also present new – and different – risk and challenges, including when to apply them and how to address compliance requirements Lenders using AI/ML require new management disciplines to meet these challenges The white paper explains how AI/ML has recently been subject to heightened concern by regulators and other stakeholders – particularly in matters of fair lending; focuses on model explainability and transparency; and outlines potential processes to respond Lenders must avoid bias that could harm consumers when using lending AI/ML applications, a problem often hidden by so-called "black box" algorithms As a leader in developing functional AI/ML that improves and enhances the mortgage process, combined with unmatched industry expertise, Black Knight is uniquely positioned to help lenders adapt to these new technologies This complimentary white paper is intended to assist mortgage industry managers and executives as they consider how to safely benefit from AI/ML JACKSONVILLE, Fla. , Feb. 8, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the release of a complimentary white paper addressing the many considerations that must be made by managers and executives seeking to apply artificial intelligence (AI) and machine learning (ML) solutions in the mortgage industry.

Black Knight White Paper Explores Strategies for Managing Artificial Intelligence and Machine-Learning Solutions Within the Mortgage Industry

While daily Optimal Blue rate lock data showed modest signs of an early-January rebound in purchase locks, refinance lending remains challenged despite a full percentage point rate decline since the October 2022 peak Purchase rate locks rose by 64% from the first to the fourth week of January, the sharpest such rise in the past 5 years; still, by the last week of the month, there were 13% fewer January purchase loans locked than 2018/2019 pre-pandemic levels In the third week of January, 57% of borrowers locking in rates paid at least a half-point as part of a permanent buydown, 44% paid at least a full point, and nearly a quarter bought down their rates with 2 points or more Such buydowns peaked in September-October 2022, when as many as 7 in 10 (71%) borrowers paid points on permanent buydowns, and 4 of 10 (43%) paid 2 points or more Overall, borrowers paid an average of 1.25 points, down from a peak of 2.03 points last fall, at an average cost of $4,300 per borrower for the week ending Jan. 21, 2023, vs. $6,900 for the week ending Oct. 1, 2022 For context, prior to the pandemic and resulting housing market boom, average points paid in 2018-2020 were closer to 0.5, with a corresponding cost of around $1,500 Purchase borrowers – who paid an average of 1.16 points in the week ending Jan. 21, 2023 – now make up 81% of new rate locks; cash-out refi borrowers (~14% share) paid nearly twice that, for an average of 2.06 points Additionally, at least 3% of purchase borrowers received temporary buydowns, with 1/0s, 2/1s and 3/2/1s the most prominent market offerings, setting up some degree of potential for payment shocks down the road JACKSONVILLE, Fla.

Black Knight: 57% of Recent Borrowers Used Rate Buydowns, With Nearly a Quarter Paying Two or More Points; Purchase and Cash-Out Most Impacted

The Nation's Second Largest Credit Union Will Implement the MSP Mortgage Servicing System and Integrated Solutions to Further Enhance the Member Experience State Employees' Credit Union (SECU) has signed a contract for the MSP mortgage servicing system to support its mortgage portfolio, while enhancing the member experience With the addition of SECU, Black Knight now provides servicing technology to the nation's three largest credit unions MSP is a comprehensive, end-to-end mortgage loan servicing system that encompasses all aspects of servicing, from loan boarding to default SECU will also use Black Knight's default suite of solutions to help streamline the handling of nonperforming mortgage loans and manage loss mitigation processes, and will use the Customer Service solution to help its employees deliver superior service during phone interactions The credit union will also implement Black Knight's Actionable Intelligence Platform for strategic, proactive and actionable analytics, as well as McDash industry reports for mortgage performance data JACKSONVILLE, Fla. , Feb. 2, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that State Employees' Credit Union (SECU), the second largest credit union in the United States with over 2.6 million members, has signed a contract to use MSP, Black Knight's comprehensive, industry-leading mortgage loan servicing system that supports all aspects of servicing, from loan boarding to default.

State Employees' Credit Union Selects Black Knight's Servicing Solutions for Unmatched Level of Innovation

JACKSONVILLE, Fla. , Jan. 30, 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 fourth quarter and full-year 2022 financial results on Tuesday, February 28, 2023, at approximately 8:30 a.m.

Black Knight to Report Fourth Quarter and Full-Year 2022 Financial Results on February 28, 2023

--  Year-end processing is a critical annual event required for Black Knight's servicing clients to meet internal and regulatory reporting requirements --  All month-end, quarter-end and year-end processing for almost 57 million first mortgage and home equity loans for 93 clients was completed on time and without any client disruption -- Year-end processing culminates in a single day after months of preparation, requiring multiple, cross-departmental groups to execute hundreds of tasks in seamless coordination --  Black Knight has a long, proven track record of successfully completing year-end processing on schedule for MSP loan servicing system clients JACKSONVILLE, Fla. , Jan. 30, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, announced the successful completion of year-end loan processing for its mortgage and home equity servicing clients.

Black Knight Successfully Completes Year-End Processing for Almost 57 Million Loans With Record Number of Clients

A New Collections Solution Features Call Management Capabilities that Servicers Can Use to Apply Insights and Help Their Borrowers Determine Best Repayment Options When Facing Financial Struggles Black Knight has added a new Collections solution to its suite of customer-focused technology, which is designed to exceed the needs of homeowners throughout their servicing journey The Collections solution leverages insight-based capabilities that assist servicers with keeping borrowers from foreclosure and late-stage default by streamlining the process of engaging homeowners who may be facing financial hardship – ultimately helping more of them stay in their homes Black Knight's suite of consumer-focused solutions offers end-to-end tools for servicers to help borrowers with personalized engagement and speedy resolution JACKSONVILLE, Fla. , Jan. 26, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced it has enhanced its suite of solutions dedicated to exceeding the needs of homeowners throughout their servicing journey.

Black Knight Continues to Deliver Innovative Servicing Solutions Focused on Customer Needs Through Periods of Hardship

The national delinquency rate inched up 7 basis points in the month to 3.08%, but finished the year 30 basis points (-9%) below its December 2021 level Prepayment activity fell to 0.39% – with single month mortality (SMM) hitting its third consecutive record low dating back to 2000 when Black Knight began reporting the metric Serious delinquencies (90+ days past due) continued to improve nationally despite an 8.7K rise in Florida in the wake of Hurricane Ian, with 44 other states seeing seriously past-due volumes decline in the month Borrowers 30 days late increased by 40K, up 4.8%, while 60-day delinquencies stayed flat Foreclosure starts increased by 15% in the month to 26,900 – the third consecutive increase, but still 30% below pre-pandemic levels Foreclosure was started on 4.9% of serious delinquencies in December, up from November but still 46% below the start rate seen in December 2019 prior to the pandemic Active foreclosure inventory rose by 2.3% in the month, though volumes remained subdued throughout 2022 after the record lows of 2021 due to widespread moratoriums and forbearance protections JACKSONVILLE, Fla. , Jan. 25, 2023 /PRNewswire/ -- Black Knight, Inc.  (NYSE:BKI) reports the following "first look" at December 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

News for Black Knight Stock (BKI)