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Black Knight, a key player in the mortgage and consumer loan software sector, will release its first quarter 2021 earnings on May 6, 2021, before market opening. A conference call is scheduled for 8:30 a.m. ET the same day to discuss results. Investors can join via the webcast on the company’s Investor Relations site. Additionally, executives will present at several upcoming investor conferences between May 26 and June 8, 2021, enhancing investor engagement and providing insights into company performance.
Black Knight (NYSE:BKI) announced a long-term contract extension with First United Bank for its MSP loan servicing system. This comprehensive platform includes support for mortgages and home equity loans. Additionally, First United Bank will implement Black Knight's Servicing Digital solution to enhance customer experience. The MSP system serves approximately 36 million active loans, helping servicers reduce costs and improve efficiency. First United Bank has over $10 billion in assets and aims to improve customer engagement through integrated services while continuing its longstanding partnership with Black Knight.
Black Knight, Inc. (NYSE:BKI) has launched the Originations Market Monitor, a monthly report utilizing data from its Optimal Blue PPE to provide insights into mortgage origination activity. The inaugural report reveals a 2.5% increase in overall rate locks for March, with a significant 32% rise in purchase locks compared to February. In contrast, rate/term refinances plummeted over 26% in March and more than 35% since December 2020. This shift marks the first time since December 2019 that purchase loans outnumbered refinances in the mortgage market.
Black Knight, Inc. (NYSE:BKI) launched its new Early Warning Suite aimed at helping lenders avoid closing loans impacted by natural disasters. This innovative solution, integrated with the Actionable Intelligence Platform (AIP) and the Empower loan origination system, provides actionable analytics to enhance performance management and communication with borrowers. It allows lenders to postpone loans at risk of disaster, ensuring informed decisions can be made. By offering daily updates on affected properties, the suite aims to protect lenders from financial losses and improve operational efficiency.
Black Knight (NYSE:BKI) announced the launch of the second generation of its Rapid Analytics Platform (RAP) on April 6, 2021. The updated platform features a new design and expanded datasets, enhancing user workflow and supporting critical business needs in mortgage and real estate sectors. RAP allows users to access diverse data, perform custom analytics, and create machine-learning models within a single interface. Key new datasets include Collateral Analytics solutions and daily mortgage data. Black Knight aims to help clients gain insights through a unified interface, continuing to evolve the platform.
On April 5, 2021, Black Knight, Inc. (NYSE:BKI) released its Mortgage Monitor Report, highlighting significant trends in the U.S. housing market. The report indicates an 11.6% annual home price appreciation in February, marking the highest growth rate in over 15 years. The inventory of homes for sale remains low, contributing to ongoing affordability challenges, where 20% of median income is required for the average home payment. New listings have decreased by 16% and 21% year-over-year in January and February, respectively, raising concerns for future market conditions.
Black Knight, Inc. (NYSE: BKI) announced an update to its Capture lead analytics platform, aiming to enhance borrower retention among lenders and servicers. With historical low retention rates in Q4 2020, the integration of Capture with Optimal Blue PPE is designed to identify refinancing opportunities based on equity and rates. The platform automates lead generation and calculates pricing scenarios to improve recapture rates. Despite high origination volumes, 2.3 million borrowers were lost, highlighting the critical need for timely and personalized outreach.
Black Knight, Inc. (NYSE: BKI) released its February 2021 mortgage performance statistics, revealing a total U.S. loan delinquency rate of 6.00%, marking an 83.03% year-over-year increase. Foreclosure pre-sale inventory dropped to 0.32%, down 29.90% from last year. The monthly prepayment rate increased to 2.85%, up 110.35% year-over-year. The report indicated significant increases in properties 30+ days past due, totaling 3,186,000. Notably, Mississippi led in non-current percentages, while Alaska showed the most improvement.
Black Knight, Inc. (NYSE: BKI) has been selected by Cadence Bank to implement its integrated technology solutions for mortgage and home equity business. This includes the Empower loan origination system, designed for efficient loan processing with automated tasks. Black Knight's MSP servicing system will enhance Cadence Bank's operations, servicing about 36 million loans. The partnership aims to improve operational efficiency and customer experience, leveraging advanced features such as machine learning for document classification and compliance validation.
On March 17, 2021, Black Knight (NYSE:BKI) announced a partnership with Hudson Valley Credit Union, which has over $6 billion in assets. The credit union will implement Black Knight's integrated mortgage software, including the Empower loan origination system and MSP servicing system, to enhance operational efficiency and member satisfaction. The partnership aims to streamline loan origination and servicing processes, improve member engagement, and leverage advanced analytics for better decision-making.
