I just finished a post Are-we-all-working-for-costar-group- with a brief mention of desktop underwriting and impacts on appraisers jobs. I wanted to follow up the quick mention Black Knight’s Paragon with this post
There are multiple uses of Black Knight I could see that ICE Intercontinental Exchange would have for the company which ICE you may know of that company by the companies it owns including New York Stock Exchange NYSE.
"In 2008, the NYSE acquired the American Stock Exchange, becoming the third largest U.S. options market. By 2013, and remains the parent organization of the Exchange today." https://www.nyse.com/history-of-nyse#
If you do Real Estate Owned properties REO you are familiar with Black Knight if you worked with multiple banks as they are how you get your reimbursements for monies you put out for the banks for things like electric, water, gas, emergency repairs etc. They charge you 5.00 per invoice to process the invoices.
I don't see that as the reason for purchase however. If you are a mortgage origination you have likely used their underwriting tools as they are the market leader for origination.
"The man who bought the NYSE just made a $11.9 billion bet that he can fast-track your mortgage for far less than you’re paying now"
You could not only imagine what data brokers would pay for learning who is buying a home with the services they could sell via ads analytics.
I think that's one part along with invoice fees but the main thing I could see with this is blockchain as mention in the story "digitizing the paper intensive time devouring task of securing loans"
If you have been following me you know I am blockchain certified and I mentioned I believe with banks requirements for blockchain tracking via Dodd Frank in the past articles. https://activerain.com/blogsview/5741934/got-my-real-estate-blockchain-certification-via-reconsortia that REO future assignments will come via blockchain certified Realtors.
https://www.linkedin.com/company/icemortgagetechnology/ Formfree is just one working on blockchain ID for lenders and government verification you can find them on linkedin with post of them working with FHFA, CFPB and others FormFree were displayed at whats called
ICE Mortgage Technology ICE Experience '23
You can look at their investments in T-Zero blockchain, bakkt, apex and others as a sign of what might be to come to the market. They took a write down it was reported on bakkt one with the value on book value but continued with further investments in blockchain its been reported on apex further investment so far its only be reported from what I have seen in regards to attempts of crypto exchanges but not hard to see where this is headed in my opinion.