Black knight

Industry Leader Black Knight to Help Fuel loanDepot's Next Generation of Lending Services

Retrieved on: 
Thursday, January 19, 2023

"Enhancing efficiency, effectiveness and quality are all critical components of loanDepot's Vision 2025 strategic plan," said loanDepot President and CEO Frank Martell.

Key Points: 
  • "Enhancing efficiency, effectiveness and quality are all critical components of loanDepot's Vision 2025 strategic plan," said loanDepot President and CEO Frank Martell.
  • It will also fundamentally change the way we run our originations operations, improving speed to closing and quality while also realizing substantial savings."
  • As a cloud-based, scalable solution, Empower relieves clients like loanDepot of the burden of maintaining their own independent backend loan origination systems.
  • "loanDepot has long had a reputation for forward-thinking excellence in the technology space, and we're proud to partner with a known technology disruptor to help fuel their next generation of lending services and advance their strategic plan," said Rich Gagliano, president, Black Knight Origination Technologies.

Black Knight Announces the Developer Portal, a Comprehensive Catalog of APIs to Enhance Integration and Efficiency for Clients

Retrieved on: 
Thursday, January 12, 2023

JACKSONVILLE, Fla., Jan. 12, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the launch of its new Developer Portal – a one-stop storefront where clients, third-party providers and their developers will have access to the company's catalog of application program interfaces (APIs) across the mortgage life cycle. APIs expose business functionality and client data that are neatly packaged into reusable services that follow industry standard protocols and conventions to allow ease of integration. Clients can use Black Knight's APIs to rapidly embed additional functionality within their applications, which can help drive intuitive and frictionless experiences in their user journeys.  

Key Points: 
  • Clients can use Black Knight's APIs to rapidly embed additional functionality within their applications, which can help drive intuitive and frictionless experiences in their user journeys.
  • This catalog of APIs includes web APIs, web services, webhooks and other integration tools.
  • The Developer Portal is a core element of Black Knight's "API-first" strategy, through which products are developed and enhanced with the power of APIs.
  • While the Developer Portal currently contains API documentation related to Black Knight's servicing technologies, this information is actively being expanded to include APIs across the mortgage life cycle.

ZestyAI Announces Agreement with Black Knight to Deliver Powerful Property Risk and Value Insights

Retrieved on: 
Thursday, January 12, 2023

SAN FRANCISCO, Jan. 12, 2023 /PRNewswire/ - Today, ZestyAI , the leading provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced an agreement with preeminent software, data, and analytics provider Black Knight, Inc.

Key Points: 
  • SAN FRANCISCO, Jan. 12, 2023 /PRNewswire/ - Today, ZestyAI , the leading provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced an agreement with preeminent software, data, and analytics provider Black Knight, Inc.
  • The industry leader will make ZestyAI's property risk analytics platform, Z-PROPERTY™, available to its mortgage, real estate, and capital markets clients to provide timely property-condition reports and risk insights.
  • ZestyAI maintains a digital twin of every property in North America that is constantly updated as changes in property condition, maintenance, and upgrades impact each property's evolving value and risk.
  • "We're always looking to deliver even more powerful data and insights for our customers, and ZestyAI's property analytics platform immediately stood out," said Julian Grey, Executive Vice President, Mortgage & Capital Markets Product Management, Black Knight Data & Analytics.

Cordless Media Implements the Optimal Blue Lead-Quoting API to Quickly Connect Lenders With Homebuyers

Retrieved on: 
Tuesday, January 10, 2023

JACKSONVILLE, Fla., Jan. 10, 2023 /PRNewswire/ -- Today, Optimal Blue, a division of Black Knight, Inc. (NYSE:BKI), announced that Cordless Media, a technology company dedicated to increasing revenue for real estate and investor website owners and adding value to site visitors, has implemented the Optimal Blue lead-quoting application programming interface (API). This new API connects lead-aggregation vendors to the vast array of product and pricing information in the Optimal Blue PPE – the industry's most widely used product, pricing and eligibility engine.

Key Points: 
  • This new API connects lead-aggregation vendors to the vast array of product and pricing information in the Optimal Blue PPE – the industry's most widely used product, pricing and eligibility engine.
  • "Cordless Media has the second largest online real estate audience in the country, and we couldn't be happier to improve the home-shopping experience," said Darren Chausse, founder and CEO of Cordless Media.
  • Designed to give homebuyers quick access to live interest rates from multiple lenders, the Optimal Blue API enables Cordless Media to display real-time rates in its Rate Table Advertising and Lead Generation tools and ad technologies.
  • "We developed this API to enhance the mortgage shopping experience, and we look forward to seeing the value it brings to Cordless Media and its customers."

Black Knight Originations Market Monitor: Rate Locks Hit Record Low For Second Consecutive Month; Rate and Affordability Pressures Amplify Seasonal Downturn

Retrieved on: 
Monday, January 9, 2023

Leveraging daily rate lock data from Black Knight's Optimal Blue PPE – mortgage lending's most widely used pricing engine -- the Originations Market Monitor provides the industry's earliest and most comprehensive view of origination activity.

Key Points: 
  • Leveraging daily rate lock data from Black Knight's Optimal Blue PPE – mortgage lending's most widely used pricing engine -- the Originations Market Monitor provides the industry's earliest and most comprehensive view of origination activity.
  • The decline was driven by a 20.5% drop in purchase locks, reflecting the strong impact of seasonality and affordability pressures.
  • "The number of mortgage holders locking in a rate to refinance their existing mortgage also set a new record low for the fourth consecutive month."
  • Much more detail on December's origination activity can be found in the full Black Knight Originations Market Monitor report .

Black Knight's First Look: Prepayments Hit Third Consecutive Record Low in November, While Mortgage Delinquencies Top 3.0% and Foreclosure Starts Bounce 19%

Retrieved on: 
Thursday, December 22, 2022

The national delinquency rate rose another 3.5% in November to 3.01%, up 10 basis points since October, driven by a 31K (+3.9%) increase in 30-day delinquencies and a 25K (+11%) rise in 60-day delinquencies

Key Points: 
  • The national delinquency rate rose another 3.5% in November to 3.01%, up 10 basis points since October, driven by a 31K (+3.9%) increase in 30-day delinquencies and a 25K (+11%) rise in 60-day delinquencies
    Improvement among seriously past-due loans continues to stagnate, with the population of 90-day delinquencies ticking down -0.2% from the month prior
    Foreclosure starts rose again (+19%) on the heels of October's increase, but the month's 23.4K starts are still below the recent high seen in June 2022 and remain 30% below pre-pandemic levels
    Foreclosure was started on 4.3% of serious delinquencies in November, up 7 basis points from October but still 44% less than the rate seen in the years leading up to the pandemic
    JACKSONVILLE, Fla., Dec. 22, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at November 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
  • Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.01%
    Number of properties that are 30 or more days past due, but not in foreclosure: 1,612,000
    Number of properties that are 90 or more days past due, but not in foreclosure: 550,000
    Number of properties in foreclosure pre-sale inventory: 196,000
    Number of properties that are 30 or more days past due or in foreclosure: 1,808,000

Ernst Fee Service from Black Knight Supports New, Hyperlocal Requirements Amid Rapid Shift to More Frequent and Complex Real Estate Transaction and Fee Changes

Retrieved on: 
Monday, December 19, 2022

According to Ernst Fee Service data, there is a shift taking place in how real estate transaction taxes and fees are being levied.

Key Points: 
  • According to Ernst Fee Service data, there is a shift taking place in how real estate transaction taxes and fees are being levied.
  • Recently, a fast-rising trend has developed, with municipalities implementing real estate transaction fee changes to support local policy issues.
  • These changes are frequently marked by complex, variable schedules, short implementation timelines and substantial fee increases, making them difficult for lenders to track and adhere to.
  • Ernst Fee Service automates end-to-end fee management for mortgage lenders to support lender TRID compliance and minimize zero percent and 10% tolerance fee cures.

Black Knight Originations Market Monitor: Purchase Locks Fall 22% in November Despite Lower Rates; Seasonal Slowdown Amplified by Affordability, Inventory Pressures

Retrieved on: 
Monday, December 12, 2022

Leveraging daily rate lock data from the Black Knight Optimal Blue PPE -- mortgage lending's most widely used pricing engine -- the Originations Market Monitor provides the industry's earliest and most comprehensive view of origination activity.

Key Points: 
  • Leveraging daily rate lock data from the Black Knight Optimal Blue PPE -- mortgage lending's most widely used pricing engine -- the Originations Market Monitor provides the industry's earliest and most comprehensive view of origination activity.
  • "Mortgage rates pulled back slightly in November based on what the market perceived as good inflation news," said Scott Happ, president of Optimal Blue, a division of Black Knight.
  • Each month's Originations Market Monitor provides high-level origination metrics for the U.S. and the top 20 metropolitan statistical areas by share of total origination volume.
  • Much more detail on November's origination activity can be found in the full Black Knight Originations Market Monitor report .

HousingWire Names Chimney Co-founder & CEO, Matthew Covi as a 2022 Tech Trendsetter

Retrieved on: 
Monday, December 5, 2022

Matthew Covi, co-founder and CEO of Chimney, an award winning fintech that provides embedded solutions to help homeowners unlock home equity, has been recognized by HousingWire as a 2022 Tech Trendsetter.

Key Points: 
  • Matthew Covi, co-founder and CEO of Chimney, an award winning fintech that provides embedded solutions to help homeowners unlock home equity, has been recognized by HousingWire as a 2022 Tech Trendsetter.
  • After evaluating a competitive field of candidates and hundreds of award submissions, HousingWire named Covi as one of its 2022 Tech Trendsetters for driving innovation within the housing industry at Chimney.
  • Yet, nearly one in two Americans are struggling financially to make ends meet, according to recent survey data, said Matthew Covi, co-founder and CEO of Chimney.
  • Covi continued, It is truly an honor to be recognized by HousingWire for the positive impact Chimneys technology is making for homeowners.

Black Knight: 8% of 2022 Mortgaged Home Purchases Now Underwater; FHA Loans See Early-Payment Defaults Rise

Retrieved on: 
Monday, December 5, 2022

Risk among earlier purchases is essentially nonexistent given the large equity cushions these mortgage holders are sitting on.

Key Points: 
  • Risk among earlier purchases is essentially nonexistent given the large equity cushions these mortgage holders are sitting on.
  • Among FHA purchase mortgage holders specifically, more than 20% have slipped underwater and a full two-thirds have less than 10% equity.
  • Such loans rely on rising home values and principal pay-downs over time to gradually improve their equity positions.
  • Given the questions surrounding slowing price gains and corrections around the country, along with rising EPDs among FHA loans, Black Knight will continue to monitor such equity positions closely.