Black Knight, Inc. - BKI STOCK NEWS

Black Knight, Inc. (NYSE:BKI) has released its Mortgage Monitor Report, revealing significant challenges for mortgage servicers as they face the expiration of forbearance plans. Approximately 1.2 million homeowners, or 65% of those in forbearance, are set to have their plans expire soon. This includes nearly 80% of all FHA and VA loans. The report notes a rise of $32 billion in past-due mortgage payments since the pandemic, with $9 billion allocated for homeowner assistance, covering only about 30% of the rise in delinquent payments.

Black Knight, Inc. (NYSE:BKI) revealed June 2021 mortgage performance statistics, highlighting a total U.S. loan delinquency rate of 4.37%, down 7.62% month-over-month and 42.39% annually. Total U.S. foreclosure pre-sale inventory is 0.27%, with foreclosure starts at 4,400, a 15.79% increase from last month but 25.42% lower year-over-year. The monthly prepayment rate stands at 2.28%, showing a 6.23% increase month-over-month. Notably, Mississippi leads in non-current percentage at 7.97%.

On July 20, 2021, Black Knight (NYSE:BKI) announced the launch of Underwriter Assist, an AI-powered mortgage solution developed in collaboration with Amazon Web Services (AWS). This tool automates underwriting tasks, improving efficiency and productivity in loan origination. By reducing processing times and workloads, Underwriter Assist aims to enhance borrower satisfaction and bolster underwriter retention. The solution utilizes advanced data extraction and machine-learning technologies, integrating seamlessly with Black Knight's existing offerings, thereby reinforcing its position as a leader in the mortgage industry.

Black Knight (NYSE:BKI) has announced multiple integrations of its Optimal Blue Pricing Engine (PPE) with LendingPad's cloud-based mortgage loan origination system. This integration allows wholesale, correspondent, and retail lenders to access real-time, compliant pricing scenarios. The connection aims to enhance loan officer productivity and lower costs by allowing users to generate lending scenarios and lock loans directly within the LendingPad platform. Executives believe this will significantly improve efficiencies for LendingPad clients.

Black Knight, Inc. (NYSE:BKI) announced the release of its second quarter 2021 earnings on August 5, 2021, with a conference call scheduled for 8:30 a.m. Eastern Time the same day. Investors can participate via the company's Investor Relations website or by phone. The company will also present at several investor conferences, including the Oppenheimer Technology, Internet & Communications Virtual Conference on August 10 and the Barclays Global Financial Services Virtual Conference on September 14. Management will be available for one-on-one meetings at these events.

Black Knight, Inc. (NYSE:BKI) released its Originations Market Monitor for June 2021, showcasing a 3.9% increase in overall rate locks compared to May. Purchase locks rose by 6%, and cash-out refinance locks jumped by 10%. However, rate/term refinances fell by 4%, leading to a decreased share of refinances at 43% of origination activity. The report highlights ongoing changes in borrower behavior amidst record home price growth, with the conforming loan share declining by nearly 750 basis points year-over-year. More detailed metrics are available in the full report.

Black Knight, Inc. (NYSE:BKI) has completed its acquisition of Top of Mind Networks, known for its Surefire CRM and marketing automation system for the mortgage industry. This integration aims to enhance the competitive edge of Black Knight’s mortgage technology ecosystem. The transaction is expected to generate approximately $13 million in incremental revenue in 2021. This strategic acquisition focuses on improving customer retention and operational performance across the mortgage sector.

On July 7, 2021, Black Knight, Inc. (NYSE:BKI) released its Mortgage Monitor Report, highlighting a remarkable 18% surge in home prices from the previous year. The report identifies low interest rates and limited inventory as driving factors, with a record monthly increase of 2.1% in May, the highest recorded. Homeowner equity reached an all-time high of $8.1 trillion, enhancing refinancing opportunities. The report indicates a shift in borrower behavior towards cash-out refinancing as homeowners seek to leverage increased equity amid competitive market conditions.

Black Knight, Inc. (NYSE:BKI) announced a partnership with Bank of Hawaii to implement the Servicing Digital solution. This tool aims to enhance customer engagement by providing detailed and personalized mortgage information. The Servicing Digital platform integrates with Black Knight's MSP system, used by the bank for 40 years. It facilitates a user-friendly experience for homeowners, allowing them to access vital mortgage data and engage with their servicers effectively. This collaboration supports the bank's digital strategy and enhances customer relationships.