Welcome to our dedicated page for Black Knight news (Ticker: BKI), a resource for investors and traders seeking the latest updates and insights on Black Knight stock.
Black Knight Inc was a mortgage technology company that provided software, data, and analytics solutions to the housing finance industry. The company ceased trading as an independent public entity following its acquisition by Intercontinental Exchange (ICE), with operations integrated into ICE's mortgage technology business.
During its time as a public company, Black Knight news often focused on product launches, client implementations, strategic partnerships, and industry data releases. The company regularly published mortgage market research and performance metrics that were widely referenced by industry participants, analysts, and media outlets. Major announcements typically centered on new software releases, platform enhancements, and technology innovations designed to improve efficiency and compliance in mortgage operations.
Client wins and system implementations represented significant news events, as these deployments often involved large financial institutions migrating substantial loan portfolios to Black Knight's platforms. The company's servicing system managed millions of active loans, making major implementations newsworthy events in the mortgage technology sector.
Regulatory developments and compliance capabilities frequently appeared in Black Knight-related news, as the mortgage industry operates under extensive federal and state regulations. The company's solutions had to adapt to changing regulatory requirements, and updates to address new compliance mandates often generated press coverage.
The acquisition by Intercontinental Exchange represented the most significant corporate event in the company's history as a public entity. The transaction involved extensive regulatory review and industry analysis given the scale of both organizations and their positions in the mortgage and financial technology sectors. Following the acquisition, Black Knight-related developments are now part of ICE's broader mortgage technology initiatives and corporate communications.
Black Knight, Inc. (NYSE:BKI) will release its fourth quarter and full-year 2021 earnings on February 15, 2022, before the market opens. Following the earnings release, a conference call will take place at 8:30 a.m. Eastern Time the same day. Interested parties can access the call through Black Knight's Investor Relations website. Additionally, Kirk Larsen, the CFO, will participate in the William Blair Tech Innovators Conference on March 15, 2022.
Black Knight, Inc. (NYSE:BKI) announced the successful completion of year-end loan processing for over 57 million loans via its MSP loan servicing system on January 1, 2022. This critical annual event ensures compliance with regulatory requirements and supports clients in reporting to various agencies. The processing was completed without any downtime, reflecting the company's commitment and proven track record. Black Knight's MSP system enhances operational efficiency and compliance while reducing risks and operating costs.
Black Knight, Inc. (NYSE:BKI) released December 2021 mortgage performance metrics, indicating a total U.S. loan delinquency rate of 3.38%, reflecting a 5.88% month-over-month drop and a 44.46% year-over-year decrease. The foreclosure pre-sale inventory rate is 0.24%, with a 3.80% month-over-month decline and 27.98% year-over-year decline. Foreclosure starts totaled 4,100, up 10.81% from the previous month but down 42.25% year-over-year. Overall, serious delinquencies remain more than twice pre-pandemic levels.
Black Knight, Inc. (NYSE:BKI) announced on January 11, 2022, that Aspire Home Loans LLC has contracted to implement Black Knight's Empower Loan Origination System and integrated origination performance solutions. This technology aims to enhance the borrower experience, increase operational efficiency, and drive business growth for Aspire Home Loans. The Empower system automates loan origination processes, reducing costs and improving data integrity. Additionally, Aspire will utilize Black Knight's Optimal Blue pricing engine and Surefire CRM for enhanced customer engagement and streamlined workflows.
Black Knight, Inc. (NYSE:BKI) released its latest Originations Market Monitor report, revealing a significant decline in mortgage rate locks in December. Total locks decreased by 35% year-over-year, and down 18.3% from November, largely due to higher interest rates and seasonal factors. Purchase loan locks fell 22.5%, while refinance lending activity dropped to its lowest level in two years. Despite these trends, cash-out refinances rose 18% year-over-year, supported by high home equity levels. The average loan amount at year-end increased to $341,000.
On January 6, 2022, Black Knight, Inc. (NYSE:BKI) announced a partnership with Sound Credit Union, a Washington-based credit union. Sound has selected Black Knight's Empower loan origination system to enhance its loan processing capabilities for first mortgages and home equity loans. The system aims to provide automation, mitigate risks, and improve data integrity. Sound will also utilize a comprehensive suite of origination solutions, including AI features and mobile-friendly tools, to streamline operations and enhance member satisfaction as it grows its member base.
Black Knight, Inc. (NYSE:BKI) released its November 2021 mortgage performance statistics, showing a continued improvement in U.S. loan delinquencies and foreclosures. The overall loan delinquency rate is 3.59%, down 4.11% month-over-month and 43.29% year-over-year. Foreclosure pre-sale inventory stands at 0.25%, reflecting a 24.16% yearly decline. Notably, foreclosure starts decreased to 3,700, marking a 15.91% year-over-year decrease. The prepayment rate also fell by 36.83% year-over-year. Statistics reveal significant regional variances in non-current percentages, with Louisiana at 7.95% and Utah at 2.38%.
On December 15, 2021, Black Knight, Inc. (NYSE:BKI) announced a partnership with VyStar Credit Union, the largest credit union in Northeast Florida, to implement its integrated mortgage origination and servicing solutions. VyStar will utilize Black Knight's Empower loan origination system and MSP servicing system to enhance their operational capabilities for over 800,000 members. This collaboration aims to streamline processes, improve member experience, and provide digital solutions for loan origination and servicing, including electronic closing and real-time information access.
On December 13, 2021, Black Knight (NYSE:BKI) published its latest Originations Market Monitor report for November 2021. The report highlights a 4.7% decline in overall rate locks, with rate/term origination falling 9.4%. This marks the third consecutive monthly decline, with rate/term refinance activity down 65% year-over-year. Despite these declines, cash-out refinance volumes rose 36% from the previous year. The average loan amount increased by $7,000 to reach $337,000.
Black Knight, Inc. (NYSE:BKI) announced its latest Mortgage Monitor Report, highlighting a record $9.4 trillion in tappable equity for homeowners as of Q3 2021. This represents a staggering $250 billion increase from the previous quarter, with a 32% rise year-over-year. Homeowners accessed their equity at the highest rate in over 14 years, with cash-outs making up 54% of all refinances. Despite rising home prices and interest rates, the current market shows significantly lower leverage and improved borrower credit scores compared to the pre-Great Recession era.
