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

Lake City Bank has selected the cloud-based Empower loan origination system (LOS) from Black Knight to better support its growth and automate its loan processing workflow Black Knight's wide-ranging solutions suite will allow Lake City Bank to streamline its business and focus on enhancing the borrower experience Empower is an all-in-one, industry-leading LOS that helps drive efficiency, cut costs, reduce risk and increase customer satisfaction JACKSONVILLE, Fla., Aug. 4, 2022 /PRNewswire/ -- Today, Black Knight Inc. (NYSE: BKI) announced that Lake City Bank, the largest bank 100 percent invested in Indiana with 52 locations across northern and central Indiana, has selected the Empower loan origination system (LOS) and integrated solutions to help close more loans, further drive its growth and reduce costs.

Lake City Bank Selects Black Knight Empower LOS and Originations Solutions Suite to Automate Workflow and Improve Loan Officer, Borrower Experience

JACKSONVILLE, Fla. , Aug. 4, 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 second quarter of 2022, as compared to the prior year quarter.

Black Knight Reports Second Quarter 2022 Financial Results

Black Knight Inc. BKI, -1.48% said Monday that year-over-year home price growth in June dropped by nearly two percentage points, which the data analytics company said was the "greatest single-month slowdown on record" since at least the early 1970s. Black Knight said the slowdown to 17.3% annual home price growth in June from 19.3% was broad based was a record by far, "and it wasn't even close," said Black Knight Data & Analytics President Ben Graboske; in comparison, the strongest single-month slowing during the 2006 housing downturn was 1.19 percentage points.

Black Knight sees record slowdown in home price growth in June, and biggest jump in inventory in 12 years

Annual home price growth dropped by nearly two percentage points in June – the greatest single-month slowdown on record since at least the early 1970s – with the rate of slowing this month jumping 66% from May While June's slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages It could take five months or more for the full impact of recent interest rate spikes to be reflected in traditional home price indexes, which suggests the potential for even stronger slowing to come Localized slowdowns were even more pronounced; 25% of major markets saw home price growth rates slow by three percentage points, with four of those decelerating by four or more points in June alone Though Black Knight's Collateral Analytics data shows a seasonally adjusted 22% (114K) increase in the number of homes listed for sale over the past two months, inventory is still 54% below 2017-2019 levels Facing a national shortage of 716K listings, it would take more than a year of such record increases for inventory levels to fully normalize Some metro area markets are returning to pre-pandemic inventory levels more quickly than the national rate, with price gains softening or even showing early signs of reversing course in response With the supply/demand equation shifting quickly, some of these markets – including San Jose, Calif. (-5.1%), Seattle (-3.8%) and San Francisco (-2.8%) – are now seeing home prices pull back from recent peaks JACKSONVILLE, Fla.

Black Knight: June Sees Record-Setting Slowdown in Home Price Growth, Largest Monthly Inventory Gain in 12 Years; Prices Back Off Highs in Some Major Markets

JACKSONVILLE, Fla. , July 25, 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 it will report its second quarter 2022 financial results on Thursday, August 4, 2022, at approximately 7:30 a.m.

Black Knight to Report Second Quarter 2022 Financial Results on August 4, 2022

The national delinquency rate rose nine basis points from May to reach 2.84%, after hitting consecutive record lows in each of the prior three months Increases were broad-based – the number of borrowers a single payment past due rose 5%, while 90-day delinquencies broke a 21-month streak of improvement with a modest 1% uptick from the prior month Foreclosure starts were also up 27% in June – still 40% below pre-pandemic levels – marking a 441% year-over-year increase; a significant rise from pandemic-driven lows Starts also represented the highest share (4%) of serious delinquencies since March 2020, but less than half the rate in the years leading up to the pandemic Active foreclosure inventory rose by 16K in the month as volumes continue to slowly come off the record lows brought on by widespread moratoriums and forbearance protections in 2020/21 Prepayment activity was down another 7% in June with prepays now down by 64% from the same time last year as rising rates put downward pressure on both purchase and refinance lending JACKSONVILLE, Fla. , July 25, 2022 /PRNewswire/ -- Black Knight, Inc.  (NYSE:BKI) reports the following "first look" at June 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: Mortgage Delinquencies and Foreclosure Starts Edge Higher in June but Remain Well Below Pre-Pandemic Levels

The Empower loan origination system will help support the expected growth of OnPath FCU's retail and home equity lending channels OnPath FCU will leverage the Empower LOS with Black Knight's integrated origination solutions Suite to increase automation for improved efficiency and to provide a better member experience By combining these innovative capabilities, OnPath FCU will gain an all-in-one digital ecosystem to support first mortgage and home equity lending JACKSONVILLE, Fla. , July 19, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) announced today that OnPath Federal Credit Union (OnPath FCU) has signed a long-term agreement for the Empower, Black Knight's loan origination system (LOS) and suite of integrated origination solutions to support its growing retail and home equity lending channels.

OnPath Federal Credit Union Signs Contract for Empower, Black Knight's LOS and Suite of Integrated Origination Solutions

Highlights Company's Innovations and System Enhancements Utilizing Analytics, Machine Learning and Other AWS Tech at Scale -- Black Knight has been leveraging Amazon Web Services (AWS) for several years to develop innovative real estate and mortgage solutions, while also increasing the scalability, speed, and functionality of its flagship offerings -- Currently using more than 60 AWS capabilities, Black Knight's AWS investment empowers its velocity of innovation, bringing operational products to market quickly -- Given its mission-critical role in one of the largest financial services verticals, Black Knight's approach to cloud technology is to "meet the client where they are" as opposed to forcing change -- Black Knight onboards cloud-based innovations to avoid client disruption while consistently delivering massive computational power, storage and throughput; machine learning; and analytical insights at scale using AWS -- The keynote address detailed specific AWS technologies, their use cases as part of Black Knight's overall cloud strategy and how the company helps "make home ownership possible" JACKSONVILLE, Fla. , July 14, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a premier provider of integrated technology, data and analytics for lenders and servicers, announced that Chief Information Technology Officer James Iredale participated in the keynote presentation at the AWS Summit Atlanta.

Black Knight Chief Information Technology Officer James Iredale Participates in Keynote at AWS Summit Atlanta

Black Knight's Optimal Blue Mortgage Market Indices tracked 30-year rates as they crossed 6% in mid-June before pulling back to finish the month at 5.79%, a jump of 44 basis points (bps) from May The spread between the 30-year mortgage rate and 10-year Treasury yield continued to widen, climbing 30 bps in June and – at 280 bps – is well above the long-term average of roughly 175 bps Total lock volumes were down 11% from May, with declines seen in both rate/term (-9%) and cash-out (-13%) refinances, as well as purchase loans (-11%), which accounted for 82% of all lock activity Looking at purchase lock counts – to exclude the impact of home price appreciation on volume – shows purchases down nearly 21% from last June, but still 3% above 2019 levels Government-backed FHA and VA locks captured additional market share from conforming products, a trend also likely reflected by a further decline in the average loan amount The average borrower credit score on cash-out refinances fell another five points in June to 693, the lowest point since Optimal Blue began tracking the metric in 2013 JACKSONVILLE, Fla. , July 11, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through June month-end.

Black Knight Originations Market Monitor: Mortgage Production Down for Third Straight Month in June, With Declines in Rate Locks Across All Loan Purposes

Allows Lenders to Track, Manage Fee Cures at the Loan Level and to Aggregate by Source The Black Knight Fee Cures Suite is an analytic tool that enables lenders to compare loan estimates and closing disclosures from closed loans to help minimize mandatory 0% and 10% tolerance fee cures A single dashboard combines loan information from the lender's LOS with Ernst fee data and analytics from the Actionable Intelligence Platform (AIP) to help the lender remediate costly trends and practices Lenders can quickly identify trends and drill down to causes by loan attribute, including city, state, county, loan type, fee type, loan officer, vendor, and number and size of cures Seamless integration with Empower provides Black Knight LOS clients with inline workflow access, putting the right information in front of the right person at the right time, helping to avoid costly cures JACKSONVILLE, Fla. , July 11, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics solutions, announced today it has combined the powerful analytics of its Actionable Intelligence Platform (AIP) with Ernst Fee Service data and the Empower LOS loan information to create the industry's first fee cure assessment tool integrated directly within the LOS workflow to help minimize mandatory 0% and 10% tolerance fee cures.

Black Knight Launches New Fee Cures Suite Within the Actionable Intelligence Platform

Velocity Credit Union has selected the Empower loan origination system (LOS) for its advanced automation capabilities, which will streamline back-office operations and improve the frontline member experience The credit union will also leverage Black Knight's suite of origination solutions to support the growth of its retail and home equity channels Adding these capabilities will help Velocity Credit Union take its lending operations to the next level JACKSONVILLE, Fla. , July 7, 2022 /PRNewswire/ -- Today, Black Knight, Inc.  (NYSE:BKI) announced that Velocity Credit Union, one of the largest credit unions in Texas, has selected the Black Knight Empower LOS and integrated origination solutions to support its members and employees with advanced automation and innovative digital capabilities.

Velocity Credit Union Selects Empower, Black Knight's Cloud-Based LOS and Integrated Suite of Origination Solutions to Enhance Member Experience, Support Growth

-Home price growth slowed in 97 of the 100 largest U.S. housing markets in May, with the national annual appreciation rate pulling back by more than a full percentage point from the month prior -While the slowdown to 19.3% from a revised 20.4% in April marks the largest single-month deceleration since 2006, prices were still up 1.5% month over month – nearly twice the historical average for May -Markets experiencing the strongest cooling in home price growth are those with comparatively poor affordability levels and low inventory deficits -Housing is now the least affordable it has been since the mid-1980s, when sharp Fed hikes led to double-digit mortgage rates and a greater than 50% payment-to-income (P-to-I) ratio   -Tightening affordability then was almost entirely interest rate-driven – with income growth largely keeping up with home prices -Today's 36.2% ratio is a result of both rising interest rates as well as soaring home values largely driven by historically low inventory levels -Even though May saw the largest jump in housing inventory in the past five years as pending listings begin to normalize and existing listings sit longer on the market, for-sale inventory remains at a 60% deficit JACKSONVILLE, Fla., July 6, 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: Signs of Cooling in Nation's Least Affordable Markets as Inventory Levels Improve; May Sees Largest Monthly Slowdown in Home Price Growth Since 2006

The national delinquency rate fell five basis points from April to 2.75% in May, continuing the downward trend in overall delinquencies of the prior two months and marking yet another new low Following typical seasonal patterns, early-stage delinquencies - borrowers who have missed a single mortgage payment - edged marginally higher (+0.2%) month over month While serious delinquencies saw strong improvement – falling 7% from April – the population of such loans (those 90 or more days past due but not yet in foreclosure) remains 45% above pre-pandemic levels Despite elevated serious delinquency levels, foreclosure starts dropped 12% from April and continue to hold well below pre-pandemic levels while active foreclosures edged slightly higher Prepayment activity fell by 11.1% from the prior month and is now down 59.1% year over year on sharply higher interest rates JACKSONVILLE, Fla. , June 24, 2022 /PRNewswire/ -- Black Knight, Inc.  (NYSE:BKI) reports the following "first look" at May 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: Past-Due Mortgages Fall to Third Consecutive Record Low in May; Serious Delinquencies, Foreclosure Starts See Continued Improvement

CRMLS Will Leverage Black Knight's Comprehensive Data to Develop New, Cutting-Edge Solutions for its Members Black Knight's comprehensive, nationwide public-records property data delivers exceptional currency, quality and coverage CRMLS will leverage Black Knight's California property data to build an even greater variety of leading-edge solutions for its members With Black Knight's flexible permitted uses, CRMLS will be able to provide rich, relevant content and develop the specific broker-centric data solutions its members need JACKSONVILLE, Fla. , June 20, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) announced today that California Regional Multiple Listing Service (CRMLS) signed a contract to license the company's comprehensive, industry-leading public-records property data.

California Regional Multiple Listing Service (CRMLS) Selects Black Knight's Industry-Leading Public-Records Property Data

Black Knight's Optimal Blue Mortgage Market Indices tracked a rise in conforming 30-year rates entering May, which cleared 5.5% before pulling back to finish the month at 5.34%, down 7 basis points from April Despite the leveling off in rates, overall lock volumes fell another 4.8% from April, with monthly declines seen across both rate/term (-23.6%) and cash-out (-11.9%) refinances While purchase volumes fell 2.3% from April and were flat year-over-year, looking at lock counts – to exclude the impact of home price appreciation on volume – shows purchases down 8.5% from last May While struggling under high home prices, lack of inventory and a higher rate environment, purchases now make up the largest share of rate locks (82%) since Optimal Blue began tracking the data in 2018 Government-backed FHA and VA locks captured additional market share from conforming products, a trend also likely reflected in the decline seen in the average loan amount Borrower credit scores fell in May, led by another steep drop in cash-out refinance credit scores, which are now below 700 on average, down 20 points in the last three months and 33 points year-over-year JACKSONVILLE, Fla. , June 13, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through May month-end.

Black Knight Originations Market Monitor: Despite a Plateau in Rates, Mortgage Production Fell Again in May, With Rate Locks Down Across All Loan Purposes

JACKSONVILLE, Fla. , June 8, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced that VanDyk Mortgage Corporation, a national mortgage banker with a 30-year history, has selected the Black Knight MSP loan servicing system to support its growing servicing operations.

VanDyk Mortgage Corporation Selects Industry-Leading MSP Loan Servicing System to Support Business Growth

Complimentary White Paper Explores Current Market Conditions and Contributing Causes Black Knight monitors housing market conditions via its HomePriceTrends platform and assigns market condition ratings (MCR) based on a number of quantitative indicators For-sale inventories are near historic lows, with significant implications for home affordability and severe shortages across all price ranges in nearly all major U.S. markets MCR criteria are interrelated, but one factor stands out from the rest as a driver in this current cycle: Months of Remaining Inventory (MRI) In a complimentary white paper, Black Knight analyzes property-level data from the top 100 metros to explain why home inventories are so low, and trending toward zero JACKSONVILLE, Fla. , June 6, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of a complimentary white paper analyzing dwindling single-family home inventory in major markets across the United States.

Trending Toward Zero: Black Knight Home Price Trends Data Shows Single-Family Home Inventories Remain Near Historic Low

New API Category Enables Vendors to Connect Consumers With an Array of Accurate Products and Pricing to Support a Premium Shopping Experience Optimal Blue, a division of Black Knight, offers a new lead-quoting application programming interface (API) for lead-aggregation vendors This API connects lead-aggregation vendors to the Optimal Blue PPE – the industry's most widely used product, pricing and eligibility engine – to give consumers on-demand access to extensive and accurate product and pricing information from hundreds of investors and across thousands of products Through a turnkey integration, vendors can leverage this API to connect to rates and make them accessible from their lead-generation or rate-table advertising websites, creating more seamless relationships between vendors and their lender partners, as well as more accurate pricing information for borrowers This new lead-quoting API also supports Optimal Blue's ongoing commitment to an API-first strategy JACKSONVILLE, Fla. , June 2, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI) announced the launch of a new lead-quoting application programming interface (API) that connects lead-aggregation vendors to the vast array of product and pricing information in the Optimal Blue PPE – the industry's most widely used product, pricing and eligibility engine.

Optimal Blue Launches Lead-Quoting API to Make Robust Product and Pricing Accessible From Lead-Generation and Rate-Table Advertising Websites

- Real estate professionals and lenders will be able to cultivate long-term relationships with homebuyers via the Percy machine learning tool, fueled by billions of consumer behavioral datapoints - Homeowners receive ongoing information about their homes, such as valuation estimates, potential equity and refinance options, which keeps them engaged and informed   - Using machine learning to monitor homeowner "signals" gathered through engaging, customized content, Percy helps identify the precise timing that a homeowner is likely to transact   - In today's tightly constricted housing market, the solution provides a way for industry participants to engage homeowners, generate inventory and increase purchase demand - Black Knight will be integrating Percy into several of its mortgage and real estate offerings to provide a seamless, integrated experience for users across the continuum JACKSONVILLE, Fla. , May 31, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI), an award-winning software, data and analytics company that drives innovation across the real estate and mortgage continuum, announced a strategic alliance with Nashville-based Percy – formerly known as Buyside – a data analytics and marketing company that collects and analyzes real estate consumer behavior using machine learning and artificial intelligence.

Black Knight Announces Strategic Alliance With Percy to Provide an Advanced Client Engagement Solution for Real Estate Professionals and Mortgage Lenders

Intercontinental Exchange

This transaction creates a powerhouse in the mortgage ecosystem.

Here's Why Intercontinental Exchange Bought Black Knight Financial

The national delinquency rate fell to 2.80% in April, down four basis points from March, hitting a new record low for the second consecutive month Overall delinquencies are down nearly 40% from last year as the mortgage market continues to recover from pandemic-related impacts The number of borrowers who are a single payment past due increased 7.9% month-over-month, following typical seasonal patterns This was offset by strong improvement among borrowers who are three or more payments past due – with volumes falling by 8% month-over-month Though such serious delinquencies have fallen between 6%-12% in each of the past 14 months, volumes remain more than 55% above pre-pandemic levels Despite still-elevated serious delinquency levels, foreclosure starts dropped nearly 12% from March and are holding well below pre-pandemic levels – though active foreclosures edged slightly higher Prepayment activity fell by 19.1% from March and 61.8% from a year ago as interest rates continued their sharp ascent in April JACKSONVILLE, Fla., May 20, 2022 /PRNewswire/ -- Black Knight, Inc.  (NYSE: BKI) reports the following "first look" at April 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: Mortgage Delinquencies Hit Yet Another Record Low in April, Driven by Continued Improvement Among Seriously Past-Due Loans

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Black Knight, Inc. (NYSE: BKI) to Intercontinental Exchange, Inc. (NYSE: ICE). Under the terms of the proposed transaction, shareholders of Black Knight will receive only $85 in a mix of cash (80%) and stock of Intercontinental (20%), subject to proration, for each share of Black Knight that they own. KSF is s

BLACK KNIGHT INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Black Knight, Inc. - BKI

Intercontinental Exchange ICE, +1.00% said late Thursday it priced $8 billion in bonds to finance its $13 billion acquisition of Black Knight Inc. BKI, +0.10% . The deal has 11 joint book-running managers including Bank of America Corp.'s BAC, -1.41% BofA Securities Inc. unit, Goldman Sachs Group Inc. GS, -0.71% , Wells Fargo Securities LLC WFC, -1.79% , Citigroup Global Markets Inc. C, -2.31% and PNC Capital Markets LLC PNC, -0.33%.

Intercontinental Exchange prices $8 billion in bonds to finance Black Knight acquisition

Atlanta-based Intercontinental Exchange has agreed to buy Black Knight, a real estate analytics company, for $13.1 billion, according to a news release from the companies.

Intercontinental Exchange to pay $13.1 billion for data company Black Knight

Merger activity decreased last week with three new deals announced and four deals completed. Two of the three deals announced were potential deals in the works.

News for Black Knight Stock (BKI)