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

HOMESTAR Will Benefit from Lead Generation and Enhanced Customer Engagement HOMESTAR selected Surefire for its powerful automation and award-winning content HOMESTAR will benefit from Surefire's ability to deliver a highly tailored customer experience, which is needed to gain and retain customers in the current purchase market The mortgage-specific Surefire CRM and marketing engine is built to address the unique needs of professionals in the mortgage industry and to help them earn repeat business JACKSONVILLE, Fla. , Jan. 24, 2023 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) announced today that Homestar Financial Corporation, a top national mortgage purchase lender, is implementing Surefire, Black Knight's award-winning, mortgage-specific customer relationship management (CRM) solution and marketing engine.

Homestar Financial Corporation Selects Surefire, Black Knight's Award-Winning Mortgage-Specific CRM and Marketing Automation Engine

loanDepot

loanDepot will begin migration to Black Knight's cloud-based version of the Empower loan origination system (LOS) in mid-2023, with conversion expected to be complete in 2024 Empower will complement loanDepot's proprietary mello ecosystem, ensuring the company continues to delight customers and provide best-in-class tools to originators and loan professionals Leveraging Black Knight's expertise and system flexibility, loanDepot's migration to Empower is expected to reduce the company's cost to produce and further increase efficiency and quality JACKSONVILLE, Fla. , Jan. 19, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced it will be integrated with loanDepot's next generation of lending services as the company migrates some of its backend operations to Black Knight's scalable and secure cloud-based Empower loan origination system (LOS).

Industry Leader Black Knight to Help Fuel loanDepot's Next Generation of Lending Services

The Storefront Provides a Central Directory Where Clients Can Access Information About Available APIs Across Black Knight's Various Applications Black Knight announced its new Developer Portal, an extension of its commitment to continuously delivering new value to clients in the form of seamless integrations across its ecosystem of solutions The first phase of the Developer Portal includes APIs specific to Black Knight's servicing technologies; future phases will include integration offerings across the loan life cycle JACKSONVILLE, Fla. , Jan. 12, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the launch of its new Developer Portal – a one-stop storefront where clients, third-party providers and their developers will have access to the company's catalog of application program interfaces (APIs) across the mortgage life cycle.

Black Knight Announces the Developer Portal, a Comprehensive Catalog of APIs to Enhance Integration and Efficiency for Clients

Provides On-Demand Access to Up-to-Date Product and Pricing Information for Lead Generation Cordless Media is the first company to implement the lead-quoting API from Optimal Blue, a division of Black Knight, one of the leading software, data and analytics providers in the mortgage, real estate, capital markets and secondary marketing verticals The Optimal Blue lead-quoting API is a new integration that allows third parties to connect consumers with an array of products and pricing to support a premium shopping experience This API connects the Optimal Blue PPE to Cordless Media's technology to give its consumers on-demand access to extensive and accurate product and pricing information from hundreds of investors and across thousands of products JACKSONVILLE, Fla. , Jan. 10, 2023 /PRNewswire/ -- Today, Optimal Blue, a division of Black Knight, Inc. (NYSE:BKI), announced that Cordless Media, a technology company dedicated to increasing revenue for real estate and investor website owners and adding value to site visitors, has implemented the Optimal Blue lead-quoting application programming interface (API).

Cordless Media Implements the Optimal Blue Lead-Quoting API to Quickly Connect Lenders With Homebuyers

Rate lock volumes declined by 19.4% in December as elevated mortgage rates kept buyers, sellers and refi candidates on the sidelines Purchase locks fell 20.5%, while rate/term refis dropped 11.2% and cash-out refis were down 14.1%, with total refinance locks making up 16% of the month's overall activity Optimal Blue Mortgage Market Indices from Black Knight showed 30-year rates dipping below 6.25% in mid-December before reversing course to finish the month at 6.52%, roughly even with the previous month Seasonal headwinds combined with interest rate and affordability pressures continue to challenge purchase lending, with the dollar volume of such locks down 45.9% over the past three months and down 48.9% from December 2021 Purchase lock counts – which exclude the impact of home price changes – were down 47% year-over-year with total rate lock counts down nearly 70% over that same span Using Black Knight's McDash mortgage performance data to provide comparative history, that represents the fewest purchase locks in a single month since early 2014, and fewest overall rate locks on record dating back to January 2000 when Black Knight began reporting origination metrics The number of mortgage holders locking in a rate to refinance hit a record low for the fourth consecutive month in December, and is now more than 50% below the previous record low set back in July 2000 Credit scores for cash-out refinances rose 5 points to 691 (down 34 points over the past 12 months) and fell 4 points for rate/term refinances but remained unchanged for purchase transactions JACKSONVILLE, Fla. , Jan. 9, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through December month-end.

Black Knight Originations Market Monitor: Rate Locks Hit Record Low For Second Consecutive Month; Rate and Affordability Pressures Amplify Seasonal Downturn

TransUnion

TRU vs. BKI: Which Stock Is the Better Value Option?

TRU vs. BKI: Which Stock Should Value Investors Buy Now?

Intercontinental Exchange

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

38% Upside To Black Knight Shareholders If Intercontinental Exchange Closes

Washington is skeptical of the transaction.

The Combination of Black Knight and Intercontinental Exchange Might Unravel. Here's Why.

Prepayment activity in November dropped 15.6% to a single month mortality (SMM) rate of 0.40% – once again marking the lowest rate on record since before 2000 when Black Knight started reporting the metric The national delinquency rate rose another 3.5% in November to 3.01%, up 10 basis points since October, driven by a 31K (+3.9%) increase in 30-day delinquencies and a 25K (+11%) rise in 60-day delinquencies The delinquency rate in Florida rose another 18 basis points in the month to 3.60% as the impact of Hurricane Ian on homeowners' ability to make mortgage payments continues Improvement among seriously past-due loans continues to stagnate, with the population of 90-day delinquencies ticking down -0.2% from the month prior Foreclosure starts rose again (+19%) on the heels of October's increase, but the month's 23.4K starts are still below the recent high seen in June 2022 and remain 30% below pre-pandemic levels Foreclosure was started on 4.3% of serious delinquencies in November, up 7 basis points from October but still 44% less than the rate seen in the years leading up to the pandemic Active foreclosure inventory rose 5.3%, though 2022 volumes remain subdued after the record lows of 2021 due to widespread moratoriums and forbearance protections JACKSONVILLE, Fla. , Dec. 22, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at November 2022 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 Hit Third Consecutive Record Low in November, While Mortgage Delinquencies Top 3.0% and Foreclosure Starts Bounce 19%

Emerging trend of municipalities introducing variable real estate transaction tax increases to address local policy issues poses a new TRID compliance challenge for lenders Following state and local elections nationwide in November, scores of new, differing rules are being put into effect quickly, greatly compressing the amount of time lenders have to respond to the changes Responsibility to monitor hyperlocal real estate transaction tax changes, which can involve complex variability, substantially increases lender exposure to regulatory risk  In certain high-cost municipalities, failure to properly disclose increased real estate transaction taxes can cost lenders substantial amounts in fee cures  Ernst Fee Service continuously tracks and updates the system with fee changes, helping lenders address these challenges efficiently and effectively while reducing regulatory risk, fee cures and time spent monitoring fees JACKSONVILLE, Fla. , Dec. 19, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) a leading provider of integrated software, data and analytics solutions, reports that its Ernst Fee Service solution has been enhanced to help clients address the challenges that are resulting from a growing number of municipalities requiring additional and more complex real estate transaction taxes.

Ernst Fee Service from Black Knight Supports New, Hyperlocal Requirements Amid Rapid Shift to More Frequent and Complex Real Estate Transaction and Fee Changes

AdvanSix

FB Financial

ASIX, BKI and FBK have been added to the Zacks Rank #5 (Strong Sell) List on December 16, 2022.

New Strong Sell Stocks for December 16th

The Optimal Blue Mortgage Market Indices from Black Knight showed 30-year rates fell 48 basis points in the month to finish November at 6.58%; but still 3.3 percentage points higher than this time last year Despite the rate reduction, overall lock volumes dropped 21.5% in November and are now down 39% over the past three months and 68% off last year's level All loan purposes were off by similar amounts, with purchase locks down 22%, rate/term refis down 17% and cash-out refis down 18%, with total refinance locks making up 15% of the month's overall activity  Headwinds from both interest rates and affordability continue to challenge purchase lending, with the dollar volume of such locks down 37% over the past three months and more than 50% from November 2021   Purchase lock counts -- which exclude the impact of rising home prices -- were down 48% year over year and 27% compared to pre-pandemic levels in 2019 Credit scores for cash-out refinances fell 4 points to 686 (down 40 points over the past 12 months) but remained unchanged for purchase and rate/term refinance transactions Adjustable-rate mortgages (ARMs), which surged amid rising rates, pulled back slightly to 10% for the month from 13% in October as the interest rate dip pushed demand back toward fixed rates Nonconforming locks (including jumbo and expanded guidelines) as a share of the month's total volume continued to fall in November, with conforming and FHA locks picking up market share as a result Both the average purchase price and average loan amount fell in November to $414,000 (-1.3% M/M) and $340,000 (-2.2% M/M), respectively JACKSONVILLE, Fla. , Dec. 12, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through November month-end.

Black Knight Originations Market Monitor: Purchase Locks Fall 22% in November Despite Lower Rates; Seasonal Slowdown Amplified by Affordability, Inventory Pressures

Black Knight's HPI showed that while home prices continued to pull back in October, the month's 0.43% decline (a seasonally adjusted 0.13% decrease) was the smallest seen since prices peaked in June Annualized appreciation slowed to 9.3% from September's 10.7%, marking the seventh consecutive month of cooling, but the smallest such decline since May New for-sale listings in October were 19% (-94K) below 2017-2019 levels, marking the largest deficit in six years – outside of March and April 2020 when much of the country was in lockdown Three months of stalled inventory growth is softening downward pressure on home prices from home affordability that still remains near 35-year lows Despite the slowdown in price corrections, equity risk among 2022 purchase mortgages persists, while risk remains minimal among those who bought 12 or more months ago Of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans Overall, at just 0.84%, negative equity rates among all mortgaged properties remain extremely low by historical standards More than 20% of 2022 FHA/VA purchase mortgage holders have now dipped into negative equity, with nearly two-thirds having less than 10% equity Early-payment defaults – loans delinquent within six months of origination – have been rising among FHA borrowers over the past year and now sit above pre-pandemic levels JACKSONVILLE, Fla. , Dec. 5, 2022 /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: 8% of 2022 Mortgaged Home Purchases Now Underwater; FHA Loans See Early-Payment Defaults Rise

- Prepayments fell 16.5% to a single-month mortality (SMM) rate of 0.48%, well below the previous record of 0.55% and the lowest recorded since at least 2000 when Black Knight began reporting the metric - The national delinquency rate rose 4.5% in October to 2.91% – up 12 basis points since September – driven by a sharp 9.4% rise in 30-day delinquencies - Florida led the jump in new early delinquencies (+19K) – with the state delinquency rate rising 53 basis points to 3.42% -- giving an initial indication of Hurricane Ian impact - Loans 60 days past due ticked up 2.9% nationally, while those 90 or more days delinquent saw continued – if modest – improvement, inching down another 1.5% in October - October's 19.6K foreclosure starts represented a 7% increase that partly reversed September's decline, but are still 55% below pre-pandemic levels - Foreclosure starts were initiated on 4% of existing serious delinquencies in October, up slightly from September but still less than half the rate seen in the years leading up to the pandemic - Active foreclosure inventory held steady as volumes have remained subdued in 2022 due to still historically low foreclosure start levels JACKSONVILLE, Fla. , Nov. 22, 2022 /PRNewswire/ -- Black Knight, Inc.  (NYSE:BKI) reports the following "first look" at October 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight's First Look: Prepayment Activity Hit Record Low in October as Rates Topped 7%; Mortgage Delinquencies Up 4.5% in First Signs of Hurricane Ian Impact

Colonial Savings F.A. has signed a contract for Black Knight's ecosystem of servicing capabilities, including the MSP loan servicing system, to support its customer-first mission MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default Colonial will also use Servicing Digital, Customer Service and Loss Mitigation solutions to further enhance customer interactions and to support retention JACKSONVILLE, Fla.

Colonial Selects Black Knight's Consumer-Focused Servicing Ecosystem to Deliver an Exceptional Experience Throughout the Servicing Journey

Fidelity National Financial

JACKSONVILLE, Fla. , Nov. 18, 2022 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF) ("FNF"), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF's wholly-owned subsidiary, F&G Annuities & Life, Inc. ("F&G"), today announced it has agreed to acquire TitlePoint from Black Knight, Inc. (NYSE: BKI) ("Black Knight") for $225 million in cash.

Fidelity National Financial to Acquire TitlePoint from Black Knight

JACKSONVILLE, Fla. , Nov. 18, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced that it has agreed to sell its TitlePoint line of business to Fidelity National Financial, Inc. (NYSE: FNF) for $225 million in cash.

Black Knight to Sell TitlePoint Line of Business to Fidelity National Financial

All In Credit Union placed robust automation above all else in its search for a new LOS to provide exceptional service for borrowers and to help retain employees While the credit union wanted an LOS to help navigate a down market, it also wanted to ensure that same platform would scale to its growth when volumes return All In Credit Union was already using the Ernst Fee Service solution and the Optimal Blue PPE, both of which are integrated with the Empower LOS JACKSONVILLE, Fla. , Nov. 15, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that All In Credit Union has signed a contract to implement Empower, Black Knight's loan origination system (LOS).

All In Credit Union Selects Empower, Black Knight's Loan Origination System, to Drive New Efficiencies, Retain Employees in Low-Volume Market

- Optimal Blue Mortgage Market Indices from Black Knight tracked 30-year rates as they rose 34 basis points (BPS) overall throughout the month to finish October at 7.06%, the highest level in more than 20 years - The impact of elevated rates has been clear on overall lock volumes, which dropped more than 14% in October, and are now down 30% over the past three months and 61% off last year's level - October's decline was led by yet another steep drop (-25.1%) in cash-out locks and further deterioration (-15.7%) in the rate/term market – ultimately, refis made up just 14% of the month's lock activity - Interest rates and affordability challenges continue to put downward pressure on purchase lending as well, with the dollar volume of such locks 13% off the prior month and down 39% from October 2021 - Purchase lock counts – which exclude the impact of rising home prices – were down 37% year over year and 26% compared to pre-pandemic levels in 2019 - Credit scores fell across the board with cash-out borrower average scores falling another 3 points; the average credit score on cash-out refinances is now at 690, 37 BPS lower than the same time last year - Adjustable-rate mortgages (ARMs) are gaining in popularity as affordability pressures rise, rising to account for 13.1% of October lock activity, up from 11.3% in September - After seeing a brief uptick In September, both the average purchase price and average loan amount fell in October to $423,000 and $337,000, respectively JACKSONVILLE, Fla. , Nov. 14, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through October month-end.

Black Knight Originations Market Monitor: Credit Scores Fall, Increased Demand for ARMs, Affordability Challenges Continue as Interest Rates Top 7% in October

Comcast

CoStar Group

Dun & Bradstreet Holdings

Visa

Weitz Investment Management, the firm led by Wallace Weitz (Trades, Portfolio), disclosed in a regulatory filing that its top sells during the third quarter included reductions to its holdings of Comcast Corp. ( CMCSA , Financial), Dun & Bradstreet Holdings Inc. ( DNB , Financial), CoStar Group Inc. ( CSGP , Financial), Black Knight Inc. ( BKI , Financial) and Visa Inc. ( V , Financial).

Wallace Weitz's Top 5 Sells of the 3rd Quarter

BluPeak Credit Union chose the Empower loan origination system (LOS) to support growth plans in a tight originations market Empower will also automate employee workflows and elevate BluPeak's member experience In addition to Empower, BluPeak will implement Black Knight's suite of integrated technology, data and analytics solutions to enhance retail lending channels while promoting steady growth JACKSONVILLE, Fla. , Nov. 9, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that BluPeak Credit Union, a San Diego-based credit union with nearly 60,000 members and more than $1.2 billion in assets, has signed a contract to implement the Empower loan origination system (LOS) and its suite of integrated solutions to help automate the processing of loans, and to elevate the borrowing experience for its members.

BluPeak Credit Union Selects Empower LOS to Support Growth in Tight Originations Market and Help Elevate Member Experience

According to the Black Knight Home Price Index, median home prices fell 0.52% in September, continuing a three-month streak of declines -- but slowed at half the pace of the prior two months Annualized appreciation slowed to 10.7% -- still more than twice long-term norms -- and, while indicative of continued correction, the 1.2% decline from August is the smallest seen in four months Despite price corrections, home values in the nation's 50 largest markets remain elevated by anywhere from 19% to 66% since the start of the pandemic Still, $1.3T (-7.6%) in recently added equity vanished from the market in the third quarter, the largest quarterly dollar decline on record, and the largest on a percentage basis since 2009 Equity among mortgaged homes is now nearly $1.5T (-8.4%) off its May 2022 peak, with the equity of the average borrower down $30K from earlier this year While additional declines may be on the horizon, equity positions remain strong; at $5T (46%) above pre-pandemic levels, the average mortgage holder still has more than $92K more equity than before Though the number of underwater homeowners has climbed nearly 275K over the past four months --more than doubling the population -- fewer than 500K homes are currently underwater nationwide Nationally, 3.6% of borrowers are either underwater or have less than 10% equity, roughly half the pre-pandemic share; a historically and extremely low share (0.84%) are in negative equity positions JACKSONVILLE, Fla. , Nov. 7, 2022 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based upon the company's industry-leading mortgage, real estate and public records datasets.

Black Knight: Mortgage Holders Lose $1.3 Trillion in Equity in Q3 as Price Correction Continues; Nationally, Homes Shed 2.6% of Value Over Past Three Months

Black Knight (BKI) delivered earnings and revenue surprises of -16.42% and 5.37%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Black Knight (BKI) Q3 Earnings and Revenues Miss Estimates

JACKSONVILLE, Fla. , Nov. 3, 2022 /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 third quarter and nine months ended September 30, 2022, as compared to the prior year periods.

Black Knight Reports Third Quarter 2022 Financial Results

A pivotal consideration is that once BKI's software is put into action, the software is indispensable to the operation of mortgage lenders. BKI has shown exemplary strength through COVID but has fallen victim to much of the restrictive inefficiencies that are the product of inflation.

News for Black Knight Stock (BKI)