ICE solidifies position as the dominant player in the mortgage tech space in 2023

Contributing sentiments towards policy:

65% : With the deal expanding ICE's total addressable market to $14 billion, ICE set its sights on becoming a "life-of-loan platform" -- powering origination to final settlement, all in a unified digital ecosystem.
57% : The FTC claimed the deal would give ICE and Black Knight a significant position in the market for loan origination software, stifle innovation and reduce lenders' choices for both origination and mortgage servicing.
57% : Under the agreement, ICE and Black Knight are required to seek approval from the FTC before acquiring any other businesses related to LOS or PPE for the next 20 years.
56% : ICE's big plans to dominateICE expects the integration of data and technology across the mortgage workflow to enable greater automation, in turn reducing friction and lowering the costs to originate a home loan for everyone involved.
56% : Both firms are also prohibited from enforcing any non-compete or non-solicitation provision or agreement against any employee who seeks or obtains a position in the divested businesses.
54% : With Black Knight's Optimal Blue no longer under its umbrella, ICE is developing its own PPE to provide additional options to lenders and partners.
54% : The merger deal gave ICE the opportunity to fully digitize the mortgage origination and servicing experience from start to finish.
53% : Competitors of Dark Matter Technologies are origination technology providers -- including ICE, Gagliano said.
51% : Ultimately, lowering acquisition costs for lenders and enabling those savings to be passed to the consumer," Jackson told analysts after the deal closed.More than $300 million worth of opportunities exist for ICE to go after, including cross-selling its data and document automation platform to Black Knight's entire MSP mortgage servicing system, said ICE executives.
48% : But ICE went through a rocky 16 months after first announcing plans to acquire Black Knight.
45% : According to the CHLA, ICE kept user seat charges artificially inflated despite the number of user seats declining for lenders in 2022.
41% : The staunchest opposition to the deal came when the Federal Trade Commission (FTC) -- led by commissioner Lina Khan -- sued ICE to stop the acquisition.

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