Analytics behemoth Black Knight is back on the acquisitions hunt. The firm acquired a cloud-based loan origination system from NexSpring Financial in an effort to expand its broker product offerings.
According to a news release, the platform will be rebranded and integrated into Black Knight’s Empower LOS so brokers can use both systems at the same time. The technology allows brokers, borrowers, agents and processors to collaborate all on the same platform and will also be integrated with its Optimal Blue Loansifter PPE.
“Black Knight is on a mission to share the advantages of our high-performance software, data and analytics with mortgage brokers, who represent the fastest-growing origination channel in the industry,” said Anthony Jabbour, Black Knight’s CEO. “This broker-specific digital lending platform enables these entrepreneurs to benefit from many of the same powerful capabilities used by large lenders on a platform that meets their own unique needs and can easily scale as their business expands.”
Black Knight has been competing with other well-capitalized firms to create an “end-to-end” mortgage experience. They’re looking to break into a growing market for broker tech.
Last July, the company acquired Optimal Blue just weeks after it reported it was up for sale for $1.8 billion. The company’s integration combined Optimal Blue’s PPE capabilities into its offerings and analytics engine.
Diversification is one approach brokerages can adopt to help ensure stability in unavoidable times of uncertainty, work to protect their revenue and – ultimately – financially weatherproof their business.
Presented by: Motto Mortgage
In 2020, Black Knight also picked up HeavyWater, a provider of artificial intelligence and machine learning to the financial services industry; Collateral Analytics and its appraiser and AVM tools; DocVerify to boost its e-notarization capabilities; and it even bought Quicken Loans’ “Cyclops” mortgage servicing customer relationship management software.