Black Knight Inc announced the acquisition of the cloud-based loan origination system (LOS) from NexSping Financial. The acquisition enhances software and analytics solutions provider Black Knight’s capability to serve mortgage brokers.
Black Knight’s (BKI) CEO, Anthony Jabbour, said, “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.”
Jabbour added, “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 will be integrating the new platform into its own Empower LOS. This will provide a streamlined and connected experience to brokers and wholesalers.
Notably, the platform allows for a hassle-free onboarding process, providing credentials quickly so users can start increasing their productivity.
NexSpring’s CEO, Mike Fabian, said, “Black Knight’s culture of investment and innovation makes it the perfect home for what NexSpring initiated. Through further development and integration with the wider Black Knight mortgage ecosystem we are confident that the new digital lending platform will be quickly recognized as the industry’s premier solution for mortgage brokers.” (See Black Knight stock analysis on TipRanks)
Additionally, yesterday, Hudson Valley Credit Union announced that it will be using Black Knight’s suite of solutions across the mortgage life cycle.
Last month, Oppenheimer analyst Dominick Gabriele gave the stock a Buy rating and lowered its price target to $94 (23.3% upside potential) from $98.
Gabriele said, “Management expects 25% 2021 growth with margin approximately equal to overall software solutions with $20 million to $22 million non controlling drag. Given pipeline/client wins, 1st /2nd lien 2022YE market share expected to be 64%/30%.”
Turning to the rest of the Street, the stock has a Strong Buy consensus rating alongside an average analyst price target of $97.20 (27.5% upside potential), based on 4 Buys and 1 Hold. Shares have rallied about 35.4% over the past year.
Related News:
Jabil’s Sales Guidance Tops Estimates After 2Q Beat; Shares Jump Pre-Market
Southwest Airlines Provides Operational And Financial Business Update; Shares Gain
Johnson & Johnson’s Single-Dose COVID-19 Vaccine Granted Emergency Use Listing By WHO
