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.
Companies' new uses for AI, regulators' responses to past cyber incidents and wider acceptance of digital collateral were among the year's top developments.
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
Changes to buyer broker commissions, along with the National Association of Realtors battle with the Biden Administration, had an impact on how mortgage lenders operated in 2024.
Fifteen percent of residences had three or more structures, which can go undetected by insurers even when they identify a secondary structure.
The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
