- Compass Analytics provides advanced pricing and valuation solutions to support loan officers and capital markets professionals to create a better experience and to offer competitive rates for consumers
- The acquisition will expand Black Knight's footprint in capital markets; increasing loan and MSR pricing and hedging connectivity between technology providers, sellers, investors and servicers
- Compass Analytics' CompassPoint™ platform supports integration to lender LOS systems and is used by hundreds of industry professionals to hedge and value more than $400 billion in mortgage originations annually
JACKSONVILLE, Fla., Sept. 12, 2019 /PRNewswire/ -- Black Knight, Inc. (BKI) announced that it has acquired Compass Analytics, LLC, a financial technology innovator that provides advanced pricing and valuation solutions to support loan officers and capital markets professionals, creating a better experience and the ability to offer the most competitive rates for consumers.
Headquartered in San Francisco, Compass Analytics offers valuation, pipeline risk management and hedge advisory services to help lenders provide competitive rates while remaining profitable. Other capabilities include sophisticated mortgage servicing rights (MSR) analytics, and a cutting-edge, enterprise-level product, pricing and eligibility (PPE) engine, which includes the industry's broadest API library for pricing and risk management functions.
Black Knight's acquisition of Compass Analytics will expand its technology footprint in capital markets, improving connectivity between mortgage originators, investors and servicers. Combining the two companies will bring together lenders and investors by leveraging Black Knight's robust Empower loan origination system, Compass Analytics' PPE engine to streamline product and pricing, and Compass Analytics' secondary and risk management activities. The acquisition also adds MSR valuation capabilities to Black Knight solutions, including integration to Applied Financial Technology (AFT) data models, and establishes, end-to-end connectivity and pricing from originators to investors.
"Both Black Knight and Compass Analytics are focused on developing innovative technologies that give enhanced functionality and value to our customers, so integrating our two companies was a natural fit," said Black Knight CEO Anthony Jabbour. "This acquisition will give us the opportunity to bring clients new and useful tools to improve risk management, gain deeper insight for smarter decision-making, and identify best-execution strategies."
Earlier in 2019, Compass Analytics was named to HousingWire's prestigious HW Tech100 list of the housing finance industry's most innovative technology solutions for its CompassPointTM platform, which is used by hundreds of industry professionals to hedge, value and sell more than $400 billion in mortgage originations annually. Black Knight was also named to the 2019 HW Tech100 list for its Servicing Digital solution, an innovative, consumer-centric mobile app to help servicers deepen customer relationships and increase retention.
"Compass Analytics shares Black Knight's passion for working collaboratively with clients to help transform the mortgage industry with superior technology, data and analytics," said Compass Analytics CEO Rob Kessel. "We are proud to join forces with such an exceptional company and believe that combining the capabilities of Compass Analytics and Black Knight will provide the resources to accelerate our joint delivery of open platform, market-leading analytics and price transparency to the industry. Today is a win for our clients, employees and the mortgage industry."
About Black Knight
Black Knight (BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on Black Knight management's beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Black Knight undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
The risks and uncertainties that forward-looking statements are subject to include, but are not limited to:
- security breaches against our information systems;
- our ability to maintain and grow our relationships with our customers;
- changes to the laws, rules and regulations that affect our and our customers' businesses;
- our ability to adapt our services to changes in technology or the marketplace;
- the effect of any potential defects, development delays, installation difficulties or system failures on our business and reputation;
- changes in general economic, business, regulatory and political conditions, particularly as they affect the mortgage industry;
- risks associated with the availability of data;
- the effects of our existing leverage on our ability to make acquisitions and invest in our business;
- our ability to successfully integrate strategic acquisitions;
- risks associated with our investment in Star Parent, L.P. and the operation of its indirect subsidiary The Dun and Bradstreet Corporation;
- risks associated with our spin-off from FNF, including limitations on our strategic and operating flexibility as a result of the tax-free nature of the spin-off; and
- other risks and uncertainties detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of our Annual Report on Form 10-K for the year ended December 31, 2018 and other filings with the SEC.
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