Monday was supposed to be the start of the Federal Trade Commission's lawsuit to block Intercontinental Exchange's acquisition of Black Knight, which has integrated technology, data, and analytics for home purchase and mortgage processing.
It wasn't, as the FTC dropped the lawsuit on August 7, as multiple outlets reported. The agency's concern was that ICE — the major global financial infrastructure and data firm — would "drive up costs, reduce innovation, and reduce lenders' choices for tools necessary to generate and service mortgages," as Axios reported. There was also the assumption that costs for consumers could rise as a result.
The two companies are still negotiating, and a deal isn't assured, but that is chilly comfort for many in the home mortgage industry.
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