General World News

Shock to the system: ICE to pay $13B for rival Black Knight

In a move with ramifications for an untold number of mortgage lenders and service firms, Intercontinental Exchange, Inc., a software and data company whose mini-empire includes ICE Mortgage Technology, has bought Black Knight. The $13.1 billion mega-deal was announced in a press release Wednesday afternoon.

The move between what are generally regarded as the two biggest suppliers of mortgage loan origination software is the latest domino to fall in a mortgage market careening off the rails. It comes after the Federal Reserve announced Wednesday an additional hike in interest rates, a much anticipated move by nervous lenders, many of details ⇒

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