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Black Knight, Inc. (NYSE:BKI) has launched a new webhooks component for its Optimal Blue API platform, enhancing efficiency and workflow automation for lenders. This development reflects the company's API-first strategy, offering real-time notifications on various mortgage transactions without the need for requests. The launch includes comprehensive documentation and a self-serve configuration dashboard, aimed at helping clients customize notifications. According to Scott Happ, this innovation is designed to save valuable client time and improve overall service delivery.
Black Knight, Inc. (NYSE:BKI) released November 2020 mortgage performance statistics showing a total U.S. loan delinquency rate of 6.33%, down 1.76% from the previous month, yet up 79.20% year-over-year. The foreclosure pre-sale inventory rate is 0.33%, a 1.63% decrease month-over-month and 29.82% decrease from last year. Foreclosure starts fell to 4,400, a significant 86.87% drop compared to last year. The prepayment rate also declined to 2.82% month-over-month despite a large 92.60% increase year-over-year.
On December 16, 2020, Black Knight (NYSE:BKI) announced the launch of Mandatory Analytics, an interactive dashboard designed for mandatory investors in the secondary mortgage market. This tool offers precise data analytics to help investors benchmark their commitments, identify gaps in strategies, and optimize performance. With features like daily data refreshes and loan-level reporting, Mandatory Analytics aims to provide actionable insights to enhance decision-making. Black Knight continues to support clients in navigating the competitive and volatile mortgage landscape.
On Dec. 7, 2020, Black Knight, Inc. (NYSE:BKI) released its Mortgage Monitor Report, highlighting Q3 2020 mortgage originations with a focus on refinancing. The report revealed record-high origination volumes driven by low mortgage rates, with 2.7 million homeowners refinancing in Q3, totaling 6.4 million for the year. However, mortgage servicers face challenges, losing over 80% of refinancing customers primarily due to pricing issues. The report forecasts nearly $4.4 trillion in first-lien mortgage originations for 2020, maintaining record levels into Q4.
On December 2, 2020, Black Knight (NYSE: BKI) announced enhancements to its Optimal Blue Product, Pricing and Eligibility engine that now support pricing for Home Equity Lines of Credit (HELOCs) in the secondary mortgage market. This update automates workflows, improving efficiency for mortgage lenders by integrating with their loan origination systems. The upgraded engine offers advanced search capabilities for both first- and second-lien HELOCs, enabling lenders to provide optimal customer options rapidly. Black Knight aims to differentiate itself through innovation amid a competitive market.
Black Knight, Inc. (NYSE:BKI) recently released its October 2020 mortgage performance statistics, indicating a total U.S. loan delinquency rate of 6.44%, a month-over-month decrease of 3.30%, and a year-over-year increase of 90.04%. Foreclosure starts hit 4,700, although this represented an 89.29% decline compared to the previous year. The monthly prepayment rate was 3.17%, up 4.13% month-over-month and 75.29% year-over-year. The comprehensive data reflects ongoing trends in the mortgage market.
Black Knight, Inc. (NYSE:BKI) announced the real-time distribution of its Optimal Blue Mortgage Market Indices™ (OBMMI) on Refinitiv Eikon. This collaboration enhances access to mortgage rate indices, offering portfolio managers and traders greater insights into daily mortgage rate movements and pricing drivers. OBMMI is based on actual locked rates across 35% of closed U.S. mortgages, designed to provide clarity on how key credit factors influence mortgage pricing. The integration highlights Refinitiv's dedication to transparency in the financial services sector.
Black Knight reported third quarter 2020 revenues of $312.6 million, up 4.5% year-over-year. Net earnings soared to $127.8 million, a 243% increase, with diluted EPS reaching $0.82. The net earnings margin improved to 36.7% from 12.5% a year ago. Notably, an $86.6 million gain from the DNB investment boosted earnings. Software Solutions revenue grew 1%, while Data and Analytics revenue surged 27%. The company forecasts full-year revenues between $1,229 million and $1,235 million, with adjusted EPS between $2.03 and $2.07.
On November 2, 2020, Black Knight, Inc. (NYSE:BKI) released its Mortgage Monitor Report, indicating that Q3 2020 mortgage originations are set to break records for refinancing and purchasing, thanks to historically low interest rates. The report highlights a 25% increase in refinance volume and a 35% increase in purchase lending compared to Q2 2020. Overall, total lending is expected to exceed $4 trillion for the first time. Additionally, annual home price growth accelerated to 14.2% in September, the highest in over 15 years, due to improved affordability and inventory shortages.
On October 29, 2020, Black Knight (NYSE:BKI) announced the election of Catherine L. Burke to its Board of Directors. Burke, currently the Chief Strategy Officer at Edelman, brings extensive experience in corporate strategy and communications. She has held multiple executive roles since 2008 and is expected to provide valuable insights to Black Knight. Bill Foley, Chairman of Black Knight, expressed pride in Burke's appointment, highlighting her expertise in enhancing client value and industry transformation.