For more information on Black Knight, please visit www.blackknightinc.com. Optimal Blue also provides mortgage market participants accurate, granular and timely insights into pricing, enterprise data, competitive positioning and industry trends, so they can validate strategies and maximize revenues. In addition to the federal government, states such as Nevada filed legal proceedings against these employees. Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, today announced the launch of two new digital solutions to advance the loan application and approval process for both consumers and loan officers. Cannae Holdings, Inc. and Thomas H. Lee Partners, L.P. will invest in a newly formed entity. 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More servicers choose the MSP® servicing system, and for good reason. The risks and uncertainties that forward-looking statements are subject to include, but are not limited to: satisfaction of the conditions to closing the acquisition of Optimal Blue, LLC and consummate the transaction, including the receipt of regulatory approvals; our ability to obtain debt financing to finance the transaction on reasonable terms; changes in general economic, business, regulatory and political conditions, including those resulting from pandemics such as COVID-19, particularly as they affect foreclosures and the mortgage industry; the outbreak of COVID-19 and measures to reduce its spread, including the effect of governmental or voluntary actions such as business shutdowns and stay-at-home orders; security breaches against our information systems; our ability to maintain and grow our relationships with our clients; changes to the laws, rules and regulations that affect our and our clients' businesses; our ability to adapt our services to changes in technology or the marketplace or achieve our growth strategies; our ability to protect our proprietary software and information rights; the effect of any potential defects, development delays, installation difficulties or system failures on our business and reputation; risks associated with the availability of data; the effects of our existing leverage on our ability to make acquisitions and invest in our business; our ability to successfully integrate strategic acquisitions; risks associated with our investment in Dun & Bradstreet Holdings, Inc.; and other risks and uncertainties detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. If only she was more experienced, she would’ve succeeded her mission! The 2010 robo-signing scandal exposed questionable behavior on the part of employees of a small subsidiary of the company. Borrower Digital guides the homebuyer through the prequalification, preapproval and refinance process via a simple, intuitive Q&A format, validating data and documents along the way. The mortgage business segment of Fidelity National Information Services was spun off in 2008 to become a fully independent, publicly traded company on the New York Stock Exchange, trading under the symbol LPS Jeffery Carbiener, Executive Vice President and Chief Financial Officer of Fidelity National Information Services at the time of the divide, became the first President and Chief Executive Officer of LPS. [6] Some controversy surrounded the resignation of two attorneys who had investigated LPS as part of their work for Florida's Economic Crime Division, as they claimed to have resigned under pressure from Attorney General Pam Bondi, who had received campaign contributions from LPS. We believe Optimal Blue will be accretive to our key financial metrics and will create significant value for our shareholders. "We are excited about the opportunity to be part of Black Knight where there is such a great strategic fit, strong client base and so many opportunities to deliver innovative solutions that will add value to our clients. "Black Knight is leveraging the power of innovative and integrated technologies to not only simplify the mortgage application and approval process, but to improve upon it for both the consumer and the loan officer," Gagliano continued. What is Black Knight Technology? "Fidelity National Information Services' Spin off to be Named Lender Processing Services", "Fidelity National Information Services' Spin off to be Named Lender Processing Services,...", "Nevada Sues Lender Processing Services Claiming Robo-Signing", "Mortgage paperwork mess: Next housing shock? This software suite will serve as the foundation for a highly advanced customer service solution that Black Knight will be offering to clients of its industry-leading MSP servicing system. On January 3, 2014, Fidelity National Financial acquired Lender Processing Services (LPS) and renamed it to Black Knight Financial Services. [18] Jabbour had most recently been chief operating officer of Fidelity National Information Services’ banking and payments business. "By bringing anytime-anywhere functionality to loan officers and giving them a real-time view into the consumer's application process, our digital originations suite can help our clients gain a competitive edge by providing extraordinary customer service and a superior mortgage experience.". [5] Eventually LPS settled with the federal government and other states and ceased operations of the problematic subsidiary. Black Knight: Sword of Rage For the first time ever, players will explore, discover, and unlock the secrets of the Black Knight universe. PennyMac, a Black Knight customer for 11 years, was sued by Black Knight on Nov. 4 for breach of contract and misappropriation of trade secrets after PennyMac developed its n-house software … TitlePoint®, Black Knight’s industry-leading title production platform, now includes access to comprehensive Black Knight property tax data for more reliable and efficient title searches. Borrower Digital simplifies the loan application process by leveraging Black Knight's artificial intelligence capabilities at the point of sale and throughout the approval process, while LO Digital gives loan officers the ability to provide superior support to their customers anytime, anywhere. [8] In May 2012, Constellation Software Inc. acquired the assets of the Local Government Solutions division of the Company. from 8 AM - 9 PM ET, Copyright © 2020 PR Newswire Association LLC. Please see our. The PPE engine produces more than 240 million pricing quotes per year, representing approximately 35% of all mortgages with locked interest rates nationwide. HomeSide Lending, Inc., where he was responsible for one of the world's largest full-service mortgage companies. [4] The investigation of these business practices were featured in an episode of 60 Minutes. This press release contains forward-looking statements that involve a number of risks and uncertainties. The replay passcode will be 13707165. We provide our customers with exceptional support in the areas of in Systems Engineering, Test and Evaluation, Software Tool Development, Data Analysis, Modeling and Simulation, and Software Engineering. Cision Distribution 888-776-0942 [11], On January 3, 2014 LPS was renamed Black Knight Financial Services after being acquired by Fidelity National Financial, which was ranked #314 among Fortune 500 Companies in 2015. In today’s fast-paced market, loan officers need a solution that can help them work faster and smarter, as well as provide exceptional customer service – no matter where they are. LO Digital is designed specifically for loan officers to manage the details of each application through an intuitive dashboard, allowing them to easily lead the homebuyer throughout the mortgage application process, respond to borrower questions along the way, and view the same information the borrower sees. In connection with the acquisition, Black Knight will combine its Compass Analytics business with Optimal Blue in a newly formed entity with minority co-investors Cannae Holdings, Inc. ("Cannae") and Thomas H. Lee Partners, L.P. ("THL"). Navigating through these dark, mysterious, and twisted realms, players will uncover foes, demons, riches, and secrets in their quest against the Black Knight. On November 04, 2019, Black Knight took the unprecedented step of taking legal action against one if its clients, PennyMac Financial Services for breach of contract and misappropriation of trade secrets. (PCLender.com). Black Knight is a Small Business based in Dahlgren, VA specializing in the engineering, test, analysis, and evaluation of complex Combat and Weapons Systems. On October 2, 2017, upon the completion of a distribution by Fidelity National Financial of its equity interest in Black Knight Financial Services, Inc., the company rebranded as simply Black Knight (NYSE: BKI). © 2019 Black Knight Technology Inc. All rights reserved. Get 1 Cr Life Cover @490/month*. The suite of user-centric, responsive web-designed solutions includes Borrower Digital and LO Digital. About Black Knight Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
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