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CHLA takes antitrust concerns about ICE/ Black Knight merger to DOJ

The planned merger between Intercontinental Exchange Inc. and Black Knight may be subject to scrutiny from the Department of Justice and the Consumer Financial Protection Bureau over antitrust concerns raised by the Community Home Lenders Association.

In its Wednesday letter to the DOJ, CHLA claimed the small and midsize independent mortgage banks it represents would be “particularly vulnerable” to market concentration — such as the large conglomerate resulting from an ICE/ Black Knight merger — in mortgage services. Unlike large lenders, which often have their own proprietary systems, it’s often not financially feasible for smaller firms to develop their own software.

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