Black Knight, Inc.

Black Knight, Inc.

File:Black Knight logo.svg
Company type	Subsidiary
Traded as	Template:NYSE was (2017–2023) Template:NYSE was (2015–2017)
Industry	Financial services
Headquarters	Jacksonville, Florida, U.S.
Key people	Anthony Jabbour (Chairman) Joe Nackashi (CEO) Kirk Larsen (President & CFO)
Parent	Intercontinental Exchange
Website	blackknightinc.com

Black Knight, Inc. is a U.S.-based enterprise delivering comprehensive technology solutions, services, data, and analytics tailored to the mortgage lending, servicing, and real estate sectors, along with capital and secondary market participants. The company is recognized for its monthly benchmark publications: the Mortgage Monitor report, which examines mortgage performance utilizing its vast loan-level database; and the Originations Market Monitor, providing early indicators of single-family mortgage originations through daily rate lock data sourced from Black Knight's Optimal Blue PPE platform. In 2023, Intercontinental Exchange acquired Black Knight in an $11.7 billion transaction.

Operations

Black Knight operates across four primary market segments:

• Real estate
• Mortgage origination
• Mortgage servicing
• Capital and secondary markets

Corporate evolution

1962 – The earliest predecessor of Black Knight, Computing and Statistical Services (CSS), was established in Jacksonville, Florida.

1969 – CSS underwent rebranding to become Computer Power Inc. (CPI).

1992 – ALLTEL Corporation acquired CPI, integrating it into ALLTEL Information Services’ financial services division with a focus on mortgage and banking technologies.

2003 – Fidelity National Financial (FNF) purchased ALLTEL Information Services, renamed it Fidelity Information Systems (FIS), and moved its headquarters to Jacksonville.

2006 – FNF spun off FIS as an independent entity.

2008 – FIS separated its mortgage processing operations to form Lender Processing Services, Inc. (LPS).

2008 – LPS expanded by acquiring McDash Analytics, establishing the Applied Analytics division.

2014 – FNF reacquired LPS and rebranded it as Black Knight Financial Services.

2015 – Black Knight Financial Services commenced trading on the NYSE under the ticker "BKFS."

2016 – The acquisitions of eLynx and Motivity Solutions laid the groundwork for Black Knight’s Origination Technologies segment.

2017 – FNF divested most of its interest in Black Knight Financial Services, leading to the creation of the publicly traded company Black Knight, Inc.

2018 – Black Knight enhanced its mortgage fee and closing cost data capabilities by acquiring AI/ML firm HeavyWater and Ernst Publishing Co.

2019 – The purchase of Compass Analytics broadened lender pricing tools and secondary market analytics offerings.

2020 – Acquisitions of Collateral Analytics and Optimal Blue strengthened real estate analytics and mortgage pricing engine solutions.

2021 – The company further expanded by acquiring NexSpring Financial (broker technology), eMBS (agency-backed securities analytics), and Top of Mind Networks (mortgage marketing automation and CRM).

2022 – Intercontinental Exchange announced plans to acquire Black Knight for $13.1 billion.

2023 – ICE finalized the acquisition at a value of $11.7 billion.

Controversies

In 2010, a scandal involving robo-signing emerged, linked to questionable conduct by staff at a minor subsidiary. This led to federal and state legal actions, including from Nevada. The situation gained national attention through a feature on 60 Minutes. Lender Processing Services (LPS) reached a settlement with regulators and subsequently closed the implicated subsidiary. Further dispute arose when two attorneys from the Florida Economic Crime Division, who were probing LPS, resigned, citing alleged pressure connected to campaign donations made by LPS to Attorney General Pam Bondi.

On November 4, 2019, Black Knight filed a lawsuit against its client PennyMac Financial Services, accusing them of contract violations and theft of trade secrets. In response, PennyMac quickly launched an antitrust suit accusing Black Knight of engaging in anti-competitive practices. The legal battle shifted jurisdiction from California to Florida and advanced to arbitration by June 2020.