The Federal Trade Commission has recently taken action against the proposed merger of ICE Corporation and Black Night Solutions. The Commission is suing to stop the merger because it would reduce competition in the mortgage technology and software industry.
ICE is a financial technology company and Black Knight is a software company that provides products and services related to the mortgage industry. If the two companies were to merge, the FTC believes it would reduce the current level of competition in the mortgage technology and software markets. A decreased level of competition would lead to higher prices for the services provided by these companies.
The FTC is seeking a court order that would prevent the merger of ICE and Black Knight. According to the Commission, this would protect consumers and ensure that competition in the mortgage technology and software markets remain strong. This is not the first time the FTC has taken legal action against a proposed merger which they believe would reduce competition.
The FTC is not the only one opposing the merger. Many industry analysts have come out against it as well. They argue that merging these two companies would give the combined entity too much control over the mortgage technology and software markets. This could lead to reduced innovation, higher prices, and poorer quality products and services.
In light of the FTC’s lawsuit, the proposed merger of ICE and Black Knight is highly unlikely to go through. This may be disappointing for the two companies, but it is a victory for competition and consumers alike as it ensures that the market for mortgage technology and software remains strong.
You can read this full article at: https://www.housingwire.com/articles/ftc-sues-to-stop-ice-black-knight-merger-says-it-would-harm-competition/(subscription required)
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