Mortgage technology

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

The acquisition, which has a $500 million enterprise value, will extend the technology vendor’s capabilities beyond the point of sale into the stubbornly manual electronic closing process.

The abrupt move paves the way for the $6 billion cash deal with Stone Point and Insight Partners to move forward unimpeded.

The product being tested would join another on the market from Finicity, which is nearing the final stage of approval for use by Fannie Mae and Freddie Mac.

Since CoStar made its revised offer in February, its stock price dropped nearly $177 per share.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.