Black Knight, Inc. - BKI STOCK NEWS

Black Knight, Inc. (NYSE:BKI) released its Mortgage Monitor Report on Nov. 1, 2021, analyzing the impact of rising interest rates on refinance activity. Nearly 9 million homeowners refinanced during the pandemic, saving over $14 billion in monthly mortgage payments. As interest rates increase, the number of eligible refinance candidates has dropped by 3.4 million, yet 11.5 million borrowers still stand to benefit. The report indicates strong potential for ongoing refinance activity, despite the Fed's tapering measures affecting market dynamics.

On October 22, 2021, Black Knight (NYSE:BKI) released its September 2021 mortgage performance statistics, highlighting significant trends in the U.S. housing market. The total U.S. loan delinquency rate fell to 3.91%, a 2.25% month-over-month decrease and 41.33% lower year-over-year. Foreclosure pre-sale inventory dropped to 0.26%, a 4.60% decline from the previous month. Foreclosure starts plummeted by 45.07% month-over-month to 3,900. Notably, properties 30+ days past due dropped to 2.07 million, down 1.47 million from the previous year.

Black Knight, Inc. (NYSE:BKI) announced that it will release its third quarter 2021 earnings on November 8, 2021, before market opening. The earnings will be followed by a conference call at 8:30 a.m. ET. Interested participants can join via the company’s Investor Relations website or by dialing in. Additionally, Black Knight’s executives will participate in the Bank of America Leveraged Finance Conference on November 30, 2021 and the Stephens Investment Conference on December 1, 2021.

Black Knight, Inc. (NYSE:BKI) announced enhanced home care capabilities in its consumer-facing Servicing Digital solution, integrating with Househappy. This update allows banking clients' customers to manage home upkeep more effectively. The Servicing Digital solution provides personalized mortgage information and home maintenance tools, enhancing customer retention and cross-sell opportunities for financial products. The integration aims to deepen customer relationships by offering a comprehensive digital homeowner experience.

On October 13, 2021, Black Knight, Inc. (NYSE:BKI) announced a partnership with Tammac Holdings Corporation, a lender specializing in mobile home financing, to implement Black Knight's comprehensive servicing technologies, including the MSP loan servicing system. This contract aims to enhance Tammac's customer experience through advanced solutions like Servicing Digital and Loss Mitigation. Tammac seeks to improve operational efficiency and mitigate risks, especially as loans exit forbearance. This collaboration underscores Black Knight's commitment to the mortgage industry, supporting client objectives for growth and retention.

Black Knight, Inc. (NYSE:BKI) released its September 2021 Originations Market Monitor, indicating a notable 9.7% decline in overall rate locks compared to August, primarily driven by an 18.7% drop in rate/term refinance activity, which has fallen 57.2% year-over-year. The average 30-year mortgage rate rose to 3.2%, contributing to decreased origination volumes. Despite this, pull-through rates improved for both purchase and refinance loans. Non-conforming and FHA/VA products gained market share amid these trends.

On October 7, 2021, Black Knight (NYSE:BKI) announced the renewal of its contract with Virginia Housing, a key client for 25 years. Virginia Housing will continue utilizing the MSP servicing system to enhance automation and support for residents, incorporating Black Knight's Loss Mitigation solution. This is particularly timely as over 1 million loans are projected to exit forbearance. The partnership aims to modernize IT infrastructure and improve services for those impacted by the pandemic.

Black Knight, Inc. (NYSE:BKI) has launched a new broker portal along with a smart broker assignment capability aimed at enhancing marketing performance for mortgage lenders' wholesale divisions. The Surefire portal allows brokers and third-party originators (TPOs) to access marketing collateral and track loan progress in real-time. This innovation is expected to empower wholesale lenders to efficiently manage TPOs and produce impactful marketing materials, ultimately promoting individual branding while fostering growth in wholesale divisions.

On Oct. 4, 2021, Black Knight (NYSE:BKI) released its Mortgage Monitor Report, revealing insights on borrower equity and foreclosure risks. The data indicates that strong equity alone may not prevent foreclosure starts, as homeowners with significant equity are still vulnerable post-forbearance. Despite this, high equity levels reduce the likelihood of involuntary liquidations by over 40%. However, the housing market shows signs of cooling, with a decrease in annual home price growth from 19.4% to 19%. Rising mortgage payments are now making housing the least affordable since late 2018.