International Exchange Inc. ICE said Thursday it “strongly disagrees” with the Federal Trade Commission’s 4-0 vote to block its acquisition of Black Knight Inc. BKI Earlier, the FTC said the merger of “nation’s largest provider of home mortgage loan origination systems and other key lender software tools” and rival Black Knight would “drive up costs, reduce innovation, and reduce lenders’ choices for tools necessary to generate and service mortgages.” ICE said the deal would “automate, streamline, and increase transparency” in the mortgage industry. “We are disappointed that the FTC has filed litigation to prevent ICE from closing our acquisition of Black Knight,” said Tim Bowler, president of ICE Mortgage Technology. “The proposed acquisition can bring to life a true end-to-end solution for the mortgage industry, benefitting aspiring and current homeowners across the United States.” On Tuesday, Black Knight said it would sell its Empower loan origination system to Constellation Software Inc. CA:CSU to get U.S. regulators to green light the deal.
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