Black Knight Financial Services in Jacksonville, Fla., swung to a profit in the second quarter, the first reporting period after it completed an initial public offering in May.
The maker of mortgage-automation software reported
Total revenue rose 8.3% to $232.1 million. Total expenses fell 2.1% to $193.8 million.
Revenue from Black Knight's technology business rose 7.4% to $191 million. Data and analytics revenue rose 7.9% to $43.7 million.
The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.
The wholesale lender filed a motion to dismiss the case, or at least to strike the class action certification in mid-October.
Remax, the real estate brokerage and mortgage broker franchisor of Motto Mortgage, rebounded from a year ago loss in a tough news cycle for both its businesses.
Economists cautioned that October's employment report may not provide a fully accurate representation of the economy due to recent hurricanes.
HomeStreet and FirstSun are working to devise a new formula after the Texas Department of Banking and the Federal Reserve declined to approve their merger application.
Former Treasury Secretary Steven Mnuchin and his investment firm Liberty Strategic Capital are seeking to more than double his indirect ownership stake of Flagstar Financial — formerly New York Community Bank — to 22.9%, according to filings obtained by American Banker.
