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

With 30-year rates rising again in May, each of the 100 largest U.S. markets is once again less affordable than its own long-term average Nationally, it now takes 34.2% of the median household income to make principal and interest (P&I) payments on the median-priced home purchased with 20% down using a 30-year fixed-rate mortgage According to Optimal Blue rate lock data from Black Knight, after pulling within 15% of pre-pandemic levels on rate dips earlier this year, in recent weeks purchase activity fell back to a 34% deficit on shrinking demand Likewise, rising borrower credit scores and down payments among recent rate locks point to the tightening of credit availability compounding the challenges facing potential homebuyers Black Knight Collateral Analytics data showed home sales volumes fell in April, as a lack of both affordability and inventory continue to create major market headwinds Having worsened in eight of the past nine months on a seasonally adjusted basis, for-sale inventory is now at its lowest level since April 2022, with inventory deteriorating in 95% of major markets since the start of 2023 This continues to put upward pressure on home prices this spring, with April marking the fourth consecutive monthly increase on a seasonally adjusted basis April's seasonally adjusted +0.46% increase was roughly on par with the 30-year average of +0.48% for the month, and would equate to a 5.5% annualized growth rate if sustained for a 12-month period Despite prices firming, annual growth slipped to 0.0% in April – marking the first time home prices have been flat year over year since the market began to recover in the wake of the Great Financial Crisis Price strengthening this spring has erased more than 60% of the declines seen late last year at the national level, and at the current rate of growth would fully erase those corrections by mid-2023 JACKSONVILLE, Fla. , June 5, 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 data sets.

Black Knight: Tightening Credit Availability Adds to Affordability Struggles as Rates Remain Elevated, Inventory Shortages Worsen and Home Prices Strengthen

The national delinquency rate spiked 13% higher in April from March's record low, with the month ending on a Sunday impacting the processing of payments made on the last calendar day of the month Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%) which matches the impact of previous similar calendar-related events Serious delinquencies (90+ days past due) continued to improve nationally, with the number of such loans shrinking in 45 states (90%) plus the District of Columbia in April Foreclosure starts fell 23% to 25K for the month – the lowest since September 2022 – and 45% below April 2019's pre-pandemic level Foreclosure actions were started on 4.9% of serious delinquencies in April, down slightly from March and still more than four percentage points below the monthly average prior to the pandemic Active foreclosure inventory declined by 6K in the month, and is down 60K or 21% from March 2020 March saw 6,400 foreclosure sales (completions) nationally, down 14% from the month prior Prepayment activity (SMM) fell to 0.44% – giving back some of the previous month's gain and suggesting the spring homebuying season is faltering on high rates and low inventory – remaining 59% off last April's levels JACKSONVILLE, Fla. , May 24, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at April 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: Early-Stage Mortgage Delinquencies Rise on Calendar Effect; Prepayments Slow as Spring Homebuying Season Falters on High Rates, Low Inventory

7 Servicing has signed a contract for MSP, Black Knight's loan servicing system, and other integrated solutions to help deliver a superior member experience and support portfolio growth as it transitions its subserviced mortgages to 7 Servicing MSP, Black Knight's mortgage servicing software, is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default 7 Servicing, a credit union service organization, will also use Black Knight's default suite of solutions to help manage loss mitigation processes and streamline the handling of nonperforming loans; the Servicing Digital solution will also help 7 Servicing enhance interactions with members 7 Servicing will also implement several of Black Knight's analytics solutions, including the Actionable Intelligence Platform for strategic, proactive and actionable analytics; McDash industry reports for mortgage performance data; Lien Alert to monitor portfolio loans for lien changes; and Quarterly Portfolio Analysis for quarterly updates on ownership changes and estimated LTV for risk analysis and portfolio valuation JACKSONVILLE, Fla. , May 9, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that 7 Servicing , a credit union service organization based in Knoxville, Tennessee, has signed a contract to use the MSP loan servicing system.

7 Servicing Chooses the MSP Servicing System to Support Growth and Member Experience as it Transitions to Servicing ORNL Federal Credit Union and 7 Mortgage Portfolios

The Optimal Blue Mortgage Market Indices showed 30-year conforming rates dipping below 6.25% in the first week of April before finishing at 6.45%, for an average of 6.38% for the month, 17 basis points lower than March's average The 10-year Treasury yield ended April at 3.44%, pushing the spread with mortgage rates back above 3%, nearing its high point since the Fed began raising rates last year Rate lock volumes fell 22% month over month, with half the change attributable to March having three additional business days; adjusted for these calendar effects, April volumes dropped just 10% Month-over-month changes were similar across all loan purposes, with purchase locks down 21.8%, cash-out refinances declining 20.6% and rate/term refis down 27.6% The refi share of lock volume dipped below 13% to 12.8%, setting a new floor for refi production Conforming loans took share from all other loan products in April, while FHA saw the biggest drop – a rare pullback since FHA began regaining share in late 2021 when it held 10% of total volume Purchase lock counts were down 45% year over year; 38% below those in pre-pandemic April 2019 Average loan amount remained flat at $355K, while the average purchase price rose slightly from $445K to $447K Credit quality ticked higher across the board with purchase, cash-outs and rate/term refis all picking up 2 points on average ARM share dropped to 7.8% of all lock volume, down from 8.8% in March JACKSONVILLE, Fla. , May 8, 2023 /PRNewswire/ -- Today, Black Knight, Inc.  (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through April 2023 month-end.

Black Knight Originations Market Monitor: Lock Volumes Fall Despite Marginally Lower Rates as Reluctant Buyers Face Continuing Inventory Shortage

Black Knight (BKI) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.63 per share a year ago.

Black Knight (BKI) Q1 Earnings and Revenues Beat Estimates

The Optimal Blue product, pricing and eligibility engine (PPE) now includes investor content from 54 state-based housing finance agencies (HFAs) HFAs provide affordable homeownership options to low- and moderate-income borrowers within the states where they operate; assistance may include down payment and closing cost assistance, as well as reduced mortgage payments By hosting investor content from HFAs in the Optimal Blue PPE, lenders can offer more diverse financing options to consumers JACKSONVILLE, Fla. , May 4, 2023 /PRNewswire/ -- Today, Optimal Blue, a division of Black Knight, Inc. (NYSE:BKI), announced that the Optimal Blue product, pricing and eligibility engine (PPE) now includes investor content from 54 state-based housing finance agencies (HFAs).

Optimal Blue PPE Expands Investor Content to 54 State-Based Housing Finance Agencies to Give Lenders and Homebuyers Access to Additional Financing Options

JACKSONVILLE, Fla. , May 4, 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 first quarter of 2023, as compared to the prior year quarter.

Black Knight Reports First Quarter 2023 Financial Results

According to the latest Black Knight HPI, home prices rose in March on both non-adjusted and seasonally adjusted bases, driven by a modest bump in demand and further deterioration in for-sale inventory levels Sales activity experienced a modest increase for the second consecutive month in March, with seasonally adjusted volumes up 13% from January's low, but still roughly 13% below their pre-pandemic average At the same time, Collateral Analytics data from Black Knight showed the supply of active for-sale listings fell for the sixth straight month, dropping to the lowest level since April of last year Further, 30% fewer new listings came on the market in March as compared to pre-pandemic norms, with the deficit having increased from 27% below pre-pandemic norms in February and 25% below in January Home prices were up a seasonally adjusted 0.45% in March (+1.38% non-adjusted) for the third consecutive month of increases, with 92% of markets seeing prices increase in the month Despite prices hardening this spring, annual home price growth continues to cool; prices were up just 1.0% on an annual basis, a backward-looking metric that has been falling by 1.3-1.4% each month since the start of 2023 While home prices in many western and pandemic boom markets are still well off their peaks, 40% of major markets have seen prices return to peak levels Of the top 50 markets (by population), only Austin (-0.7%), Salt Lake City (-0.12%) and San Antonio (-0.07%) are still seeing prices falling on an adjusted basis, with Phoenix and Dallas effectively flat month over month JACKSONVILLE, Fla. , May 3, 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 data sets.

Black Knight: Home Prices Up Again in March on Worsening Inventory Shortages and Modest Rise in Demand

WEOKIE chose the Empower LOS for its ability to reduce manual work for loan officers through automation of specific tasks, an enhanced application experience for its members, better technology, and several other benefits WEOKIE also selected Black Knight for the company's depth and breadth of mortgage expertise With Empower, the credit union will be able to develop its own in-house workflows to best support its employees' needs and give them more time to focus on members The Empower LOS also supported WEOKIE's goal of consolidating multiple lending solutions under a single provider JACKSONVILLE, Fla., May 2, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that WEOKIE Federal Credit Union, serving members in the greater Oklahoma City area and surrounding counties, has signed a contract to implement the Empower loan origination system (LOS).

WEOKIE Federal Credit Union Selects Empower LOS to Automate Manual Processes and Fuel Growth in Retail, Home Equity Lending

The national delinquency rate dropped 53 basis points (-15%) in March, falling below 3% for the first time on record, ending the month at just 2.92% While delinquency rates almost always fall in March – as borrowers utilize tax refunds and other seasonal revenues to pay down past-due debt – the drop marked the second largest decline in the past 17 years Factoring in March's decline, the total number of past-due mortgages (including active foreclosures) has fallen to its lowest level in nearly 23 years, dating all the way back to April 2000 Serious delinquencies (90+ days past due) showed marked improvement, falling by 51K to their lowest level since March 2020, with volumes shrinking in every state Likewise, every state saw overall delinquencies fall in March, with improvements ranging from 11.9% in Washington to 21.5% in Vermont Both foreclosure starts (+9.0%) and sales (+4.6%) rose in the month but still remain well below pre-pandemic volumes at the national level Active foreclosure inventory held steady, but remains 31K (12%) below March 2020 levels The prepayment rate (SMM) rose to 0.50% (+44% month over month) driven, as anticipated, by seasonal tailwinds in sale-related prepayments and an increased demand for refis due to falling rates JACKSONVILLE, Fla. , April 21, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at March 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: Mortgage Delinquencies Hit Record Low in March, While Prepayments Rose on Easing Rates and Seasonal Tailwinds

JACKSONVILLE, Fla. , April 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 first quarter 2023 financial results on Thursday, May 4, 2023, at approximately 7:30 a.m.

Black Knight to Report First Quarter 2023 Financial Results on May 4, 2023

Investors can gain 32.5% if the merger between ICE and BKI goes through at the current price. BKI and ICE have taken significant steps to ensure the deal goes through. The FTC is unlikely to block this merger.

How To Profit From The Black Knight-Intercontinental Exchange Merger With A Simple Arbitrage Strategy

JACKSONVILLE, Fla. , April 11, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of a new mobile app for the Optimal Blue PPE – the industry's most innovative product, pricing and eligibility engine.

Black Knight Announces New Mobile App for the Optimal Blue PPE to Expand On-the-Go Access to Scenario Pricing and More

Intercontinental Exchange

The U.S. Federal Trade Commission opened a new front in its fight against the Intercontinental Exchange deal to buy Black Knight by asking a federal court for a preliminary injunction to halt the deal while its internal administrative process moves forward.

FTC asks for temporary halt to Intercontinental Exchange deal for Black Knight

JACKSONVILLE, Fla. , April 10, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through March 2023 month-end.

Black Knight Originations Market Monitor: Rate Lock Volumes Jump 43% in March on Seasonal Tailwinds, Falling Rates and Lower FHA Insurance Premiums

New Feature Provides Customer-Friendly Visualization of Mortgage Options Optimal Blue, a division of Black Knight, has added a new Product Comparison tool to its Loansifter PPE, allowing brokers to provide their borrowers with a user-friendly, interactive report of mortgage options to aid in the loan shopping experience Now available as a standard feature with all Loansifter PPE subscriptions, Product Comparison generates a side-by-side breakdown of mortgage rates to help borrowers better understand and compare their loan options Product Comparison gives brokers flexibility to configure consumer-facing reports with their own distinct brand elements Designed specifically for mortgage brokers, the Loansifter PPE supports best execution searches across more than 120 wholesale investors, allowing leading brokers to stay competitive and confidently execute profitable lending strategies JACKSONVILLE, Fla. , April 6, 2023 /PRNewswire/ -- Optimal Blue, a division of Black Knight, Inc. (NYSE:BKI), announced the release of Product Comparison, a new feature available in the company's cloud-based Loansifter product, pricing and eligibility (PPE) engine for mortgage brokers.

Optimal Blue Adds Product Comparison Feature to its Loansifter PPE to Help Brokers Enhance the Mortgage Shopping Experience for Their Borrowers

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One of the best-performing property sectors this year, Single-Family Rental REITs have rebounded as the previously-sluggish U.S. housing sector has shown signs of life amid a moderation in mortgage rates. The dire predictions of a "hard landing" in rental markets have been rebuffed in recent months by steadying rental rates and strong occupancy trends seen across the major rent indexes.

Single-Family Rental REITs: Renting The American Dream

Home prices rose in February on both non-adjusted and seasonally adjusted bases, driven by a combination of modestly easing affordability in January and early February along with worsening inventory levels Sales were up in the month on interest rate dips according to Collateral Analytics data from Black Knight, but remained 18% below 2019 pre-pandemic averages as affordability pressures continue to weigh on demand Inventory levels continued to deteriorate, with the seasonally adjusted number of homes available for sale falling for the fifth consecutive month to their lowest level since May of last year Adjusted for seasonality, prices were up 0.16% in February – the strongest single-month gain since May 2022 – while at the same time, at 1.94%, annual home price growth fell below 2% for the first time since 2012 The national annual growth rate is expected to fall below 0% by April, but this could be a temporary milestone should inventory challenges persist and interest rates ease Home prices are now -2.6% off their 2022 seasonally adjusted peak nationally, a marginal strengthening from -2.7% in January More noteworthy, 39 of the 50 largest U.S. markets saw home prices rise on an adjusted basis in February; that's in sharp contrast to this past November, when prices were falling in 48 of 50 markets February's price strengthening also helped shore up homeowner tappable equity levels, which are now $1.6T off peak (-15%); collectively, homeowners with mortgages still have $9.3T in tappable equity available Though down from $210K early last year, the average mortgage holder still has $178K in tappable equity to borrow against while retaining a healthy 20% equity stake in the home JACKSONVILLE, Fla. , April 3, 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 data sets.

Black Knight: February Home Prices See First Monthly Rise After Seven Straight Declines as Sales Pick Up on Lower Rates While Inventory Shrinks Even Further

-  Extraco Banks will use Empower to spearhead its move into the digital lending arena -  The cloud-based Empower LOS and its full digital ecosystem, will help the bank automate manual processes and allow loan officers to communicate better with borrowers -  The bank will also leverage the award-winning content library within the Surefire CRM tool to engage borrowers with timely, relevant outreach to strengthen customer relationships JACKSONVILLE, Fla. , March 28, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that Extraco Banks, the largest and most comprehensive locally owned bank between Dallas and Austin, Texas, has signed a contract to implement the Empower loan origination system (LOS).

Extraco Banks Selects Empower, Black Knight's High-Performance LOS, to Drive Growth in Digital Mortgage Operations

The national mortgage delinquency rate increased 7 basis points in February to 3.45%, but remains down 12.6% year over year Prepayment activity (SMM) inched up to 0.35% -- breaking a four-month streak of record lows, with relief likely to extend as the spring homebuying season takes hold A 36K rise in overall delinquencies was driven by a nearly 65K increase in those just a single payment behind, while 60-day delinquencies fell by nearly 12K (-4.0%) and 90-day delinquencies fell by 17K (-3.0%) 45 states saw their serious delinquency volumes (90+ days past due) improve in February Foreclosure starts decreased by 9% in the month to 29K, breaking a streak of increases, with starts remaining 19% below pre-pandemic levels Foreclosure starts equated to 5.1% of serious delinquencies in February, down from January and still 25% below the start rate seen in February 2020 prior to the pandemic Active foreclosure inventory rose marginally (+2K) in the month, and is up 34K (+15%) from February 2022 despite remaining 15% below its pre-pandemic level February saw 7.1K foreclosure sales (completions) nationally, up 2.5% from the month prior JACKSONVILLE, Fla. , March 23, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at February 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: Prepayments Rebound from All-Time Low; Overall Mortgage Delinquencies Inch Up As 30-Days Late Payments Rise

Black Knight's innovative SCOUT mobile property inspection solution approved for data collection as part of the GSE's appraisal modernization initiative   -  Black Knight is one of only six vendors currently approved by Fannie Mae to support the GSE's new valuation option: value acceptance plus property data-  SCOUT, Black Knight's innovative property inspection application, enables appraisers and other approved data collectors to easily collect interior and exterior property data using a mobile device-  Property data collection providers, such as appraisal management companies (AMCs) and other service providers, can use SCOUT to complete the data collection process for Fannie Mae's value acceptance plus property data valuation option, as well as other GSE solutions.-  The intuitive SCOUT mobile app simplifies the lender and borrower experience by creating efficiencies and cost savings, as well as faster origination turn times JACKSONVILLE, Fla.

Black Knight Approved to Support Fannie Mae's New Valuation Option

The credit union will also leverage integration with Surefire, Black Knight's CRM tool,  to enhance member experience Frontwave Credit Union selected the Empower loan origination system (LOS) for its powerful digital solutions, robust integrations and ease of use The credit union will also use Surefire, Black Knight's powerful mortgage marketing CRM solution to enhance its communications and outreach channels to help develop members for life Frontwave Credit Union, which serves the military and civilian communities, also chose Black Knight for its positive reputation in the military community JACKSONVILLE, Fla. , March 20, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that Frontwave Credit Union, a growing credit union serving military and civilian communities in Southern California, has signed a contract to implement the Empower loan origination system (LOS) and several of its integrated solutions to support its expanding mortgage operations.

Frontwave Credit Union Selects Empower, Black Knight's Cloud-based LOS, to Help Expand and Scale Mortgage Operations

Rate lock dollar volumes rose 2% month over month in February, although the number of locks dropped, as loan production shifted toward jumbos, which offered more favorable rates than GSE products Purchase lock volumes rose 4%, driven by seasonal tailwinds, while cash-out refinance volumes fell 11% on rising interest rates and rate/term locks remained near record lows The refinance share of the market fell back to 14% of overall activity, the low point in this cycle first reached in October Despite the month-over-month gains, purchase lock counts – which exclude the impact of home price changes – are well below both last year's (-42%) and pre-pandemic (-35% against 2020) levels Nonconforming loans – including jumbos and expanded guidelines – picked up share relative to all other loan products (12.2%), while conforming (56.6%), FHA (18.4%) and VA (12.0%) products all lost share Likewise, the ARM share of lending popped back above 10% in February as the rise in rates pushed borrowers to consider alternatives to fixed-rate loans Optimal Blue Mortgage Market Indices from Black Knight showed 30-year rates dipped below 6% for the first time since September, before rising 52 basis points to finish the month at 6.68% The spread between the 10-year Treasury and 30-year conforming mortgage rate widened by 12 basis points as Agency MBS sold off relative to Treasuries in response to revived inflation concerns The average loan amount rose from $340K to $349K, while the average purchase price climbed from $421K to $434K Credit scores remained essentially flat for cash-out refis and purchases but dropped 7 points for the limited number of rate/term refi locks JACKSONVILLE, Fla. , March 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 February 2023 month-end.

Black Knight Originations Market Monitor: Loan Demand Dips and Borrowers Shift Toward Jumbos, ARMs as Rate Rise Resumes

The U.S. Federal Trade Commission on Thursday said it would take action aimed at stopping New York Stock Exchange parent Intercontinental Exchange from acquiring mortgage data vendor Black Knight in a $13.1 billion deal.

US FTC will seek to stop ICE from buying Black Knight

Antitrust agency's move is a setback for efforts by ICE, parent of the New York Stock Exchange, to become a bigger force in home-loan finance.

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