Black Knight Stock Price, News & Analysis

Black Knight (NYSE:BKI) has launched new API capabilities for its Loansifter product, enhancing data exchange automation between mortgage brokers and integration partners. This advancement aims to reduce manual processes, mitigate risk, and improve operational efficiency for brokers. The Loansifter PPE engine supports over 120 investors, ensuring best execution searches. With these new capabilities, brokers can effortlessly connect to technology providers, enhancing business interactions and promoting pricing transparency in the mortgage sector.

The latest Black Knight Home Price Index report indicates a continued decline in median home prices, with a 0.98% drop in August, following a 1.05% decline in July. These decreases represent the largest monthly declines since January 2009, with home prices now 2% below their peak in June. Inventory growth has stalled, as sellers hesitate in the current market. Consequently, the national inventory remains 44% below pre-pandemic levels, exacerbated by falling demand and rising mortgage rates, which pushed home affordability to its lowest in 38 years.

Black Knight, Inc. (NYSE: BKI) reports that the national loan delinquency rate fell to 2.79% in August, reflecting a 3.6% decrease from July and remaining just above the record low set in May 2022. The number of borrowers 30 days past due decreased by 4%, while serious delinquencies saw a 4.5% decline. However, foreclosure starts increased by 15% compared to July, totaling 20,300, though this remains 44% below August 2019 levels. Prepayment rates edged up 1.5% month-over-month but remain significantly down by 69% year-over-year due to rising interest rates.

Black Knight, Inc. (NYSE:BKI) announced that iTHINK Financial Credit Union has selected its Empower loan origination system to enhance operational efficiency and support business growth. By automating manual processes and integrating various solutions, iTHINK Financial aims to streamline mortgage applications while providing members with a seamless experience. The technology aims to cut operational costs and support scalable growth for the credit union, which currently serves over 100,000 members and holds more than $2 billion in assets.

Black Knight, Inc. (NYSE:BKI) released its latest Originations Market Monitor report, indicating a substantial decline in mortgage lock volumes. Overall rate locks fell by nearly 9% in August, marking the lowest levels since December 2019. The average purchase price dropped by $12K (-2.7%) and $43K (-9.2%) since March. Rate/term refinances plummeted 94.5% year-over-year. The refi share held steady at a record low of 18%. The report highlights ongoing affordability challenges in the mortgage market as home prices recede in some areas.

Black Knight (NYSE: BKI) has introduced the ICE Mortgage Rate Lock Index Futures to its CompassPoint platform, enhancing its hedging solutions for mortgage servicing rights (MSRs), jumbo loans, and loans with extended lock terms. This expansion affirms Optimal Blue's commitment to providing top-tier secondary market functionality and risk management tools. The CompassPoint platform is utilized for hedging over $100 billion in closed loan volume monthly, underscoring its importance in the mortgage industry.

Black Knight, Inc. (NYSE: BKI) reports a significant shift in the housing market as July saw a 0.77% decline in home prices, marking the largest single-month drop since January 2011. Over 85% of the top 50 U.S. markets are off their peaks, with some experiencing declines of 4% or more. Tappable equity, which hit a record high of $11.5T in Q2, has decreased by 5% in two months, suggesting a possible decline in Q3. Despite these challenges, market leverage remains low at 42% of mortgage values, indicating some resilience against corrections.

AMOCO Federal Credit Union in Texas has selected Black Knight's Empower loan origination system and MSP loan servicing software to enhance its mortgage technology and prepare for future growth. This collaboration aims to improve operational efficiency and member experience through automation and integration. The Empower system offers advanced capabilities for loan processing, while the MSP system supports a comprehensive range of servicing tasks for approximately 37 million loans. Black Knight's innovative solutions are expected to help AMOCO better meet member needs and capitalize on future origination opportunities.

Union Home Mortgage has selected Black Knight's MSP loan servicing system to enhance its mortgage servicing operations. This decision follows a thorough evaluation of servicing technologies, aiming to improve customer experience and operational efficiencies. Alongside MSP, Union Home Mortgage will implement several integrated solutions including Servicing Digital, Customer Service, and various default solutions. These tools are designed to streamline processes and improve customer interactions, demonstrating Black Knight's commitment to innovation in mortgage servicing.