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Black Knight - BKI STOCK NEWS

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. (NYSE: BKI) delivers essential software and analytics for the mortgage lifecycle, serving lenders, real estate professionals, and capital markets. This news hub provides investors and industry stakeholders with critical updates on strategic developments, financial performance, and market leadership in housing technology.

Track the latest developments including merger progress with Intercontinental Exchange, quarterly earnings insights, and innovations like the Empower® Loan Origination System. Our curated news collection covers regulatory updates, product enhancements, and housing market analyses from BKI's proprietary data tools.

Key updates include merger status reports, Home Price Index trends, and operational strategies addressing current market conditions. Discover how Black Knight maintains industry leadership through technological innovation while navigating evolving housing finance landscapes.

Bookmark this page for real-time access to press releases, investor communications, and market-moving announcements. Check regularly for authoritative updates directly affecting mortgage technology sector dynamics and BKI's position within it.

News

Black Knight Originations Market Monitor: Mortgage Activity Falls as Rates Hit Two-Decade High Amid Seasonal Headwinds

Rhea-AI Summary
Mortgage rates climbed above 7.25% in August, the highest in over 20 years, but settled at 7.07% by month-end. Rate lock volumes fell 1.5% from July, driven by a 1.9% decrease in purchase volume. Purchase lock counts were down 22% YoY and 34% compared to pre-pandemic levels. Average purchase price decreased to $450K, with an average loan amount of $352K in August. Adjustable-rate mortgages dropped to 6.56% of lock activity. Overall, the housing market dynamics and high interest rates continue to dampen mortgage demand.
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Black Knight: As Interest Rates Hit 22-Year Highs, 51% of Homebuyers Face $2,000+ Monthly Mortgage Payments; Nearly a Quarter Face $3,000 Payments or More

Rhea-AI Summary
The average monthly principal and interest payment for borrowers purchasing a home using a 30-year fixed-rate loan reached a record high of $2,306 in July 2023. This represents a 60% increase over the past two years. Rising interest rates have also impacted equity withdrawals from homes, resulting in a 55% decline in equity withdrawals since rates began to rise 15 months ago.
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Intercontinental Exchange Completes Acquisition of Black Knight and Announces Preliminary Results of Elections Made by Black Knight Stockholders in Connection with the Acquisition

Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) completes acquisition of Black Knight (NYSE: BKI), creating ICE Mortgage Technology business segment. Black Knight stockholders to receive $75.867 per share in cash or 0.6577 shares of ICE common stock. Total consideration is approximately $11.9 billion. Per Share Stock Consideration oversubscribed, subject to proration. ICE to divest Optimal Blue and Empower LOS businesses to Constellation Software Inc. (TSX: CSU). Conference call to discuss acquisition on September 28.
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Black Knight HPI for July 2023: Annual Growth Rate Accelerates as Home Prices Set New Record High, Though Mixed Signals Suggest Market May Be Shifting

Rhea-AI Summary
Home price growth continues, hitting another all-time high in July with a 2.3% annual growth rate. Further acceleration expected in August. Mixed signals in the market data raise questions about a potential downshift. Non-adjusted monthly gains fell below average, signaling a possible transition. Seasonally adjusted price gains observed in 99 of the largest markets, but growth rates cooled. Housing market affordability is tight, impacting growth.
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Intercontinental Exchange and Black Knight Announce Entry into Agreement Containing Consent Orders with FTC’s Bureau of Competition

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ICE's acquisition of Black Knight is expected to close on September 5, 2023.
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Black Knight's First Look at July Mortgage Performance Data: Foreclosure Inventory Hits Lowest Level in 15 Months, While Serious Delinquencies Continue to Decline

Rhea-AI Summary
The national delinquency rate edged up to 3.21% in July, but remains near record lows. Serious delinquencies fell to the lowest level since before the financial crisis. Foreclosure starts and sales are below pre-pandemic levels. Prepayment activity decreased.
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AimLoan Completed Successful Implementation of MSP, Black Knight's Loan Servicing System

Rhea-AI Summary
AimLoan has implemented the Black Knight MSP loan servicing system to manage its mortgage loan portfolio in-house. They have also introduced the Black Knight Servicing Digital solution for customer self-service access and the Black Knight Customer Service solution for support representatives. AimLoan has implemented Black Knight's full suite of default solutions to streamline default processes. The company is leveraging Black Knight's data and analytics solutions for strategic insights and analysis.
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Black Knight Originations Market Monitor: Mortgage Rate Lock Activity Falls as Rates Top 7% for First Time Since November 2022; Signs of Credit Tightening Persist

Rhea-AI Summary
Black Knight, Inc. (NYSE:BKI) reported that 30-year conforming rates crossed 7% for the first time since November 2022 before falling to 6.88%. Purchase lending accounted for 88% of lock volume, but was down 27% year over year due to higher interest rates and low inventories. The average purchase price was $456K with an average loan amount of $358K in July. Adjustable-rate mortgages (ARMs) fell to 6.79% of July's rate lock activity.
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Black Knight: Home Prices Hit New Record Highs in 60% of Major Markets as Annual Growth Rate Rises, Boosting Homeowner Equity Levels

Rhea-AI Summary
NYSE:BKI - Black Knight Home Price Index (HPI) reaches all-time high in June, with home prices hitting new peaks in 30 of the 50 largest markets. Annual growth rate rose to +0.8% in June, up from +0.2% in May. Total mortgage holder equity topped $16T again in June, with tappable equity climbing to $10.5T.
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Intercontinental Exchange, Black Knight and the Federal Trade Commission Jointly Agree to Dismiss Federal Court Case, Pending Settlement Negotiations

Rhea-AI Summary
Intercontinental Exchange, Inc. (NYSE: ICE) and Black Knight, Inc. (NYSE: BKI) have jointly stipulated with the Federal Trade Commission (FTC) to dismiss the preliminary injunction proceeding seeking to block ICE’s acquisition of Black Knight. The agreement allows them to continue working towards a final settlement agreement resolving the FTC’s challenge. The Timing Agreement sets deadlines and milestones for a mutually acceptable Agreement Containing Consent Order (ACCO) by August 25, 2023. This follows the announced divestiture agreements for Black Knight’s Optimal Blue and Empower loan origination system businesses.
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NYSE:BKI

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BKI Stock Data

11.88B
151.23M
3.51%
92.28%
1.04%
Software - Application
Technology
Link
United States
Jacksonville