Industry Watch: ICE, Black Knight respond to FTC

Daily AI, a customer relationship management (CRM) fintech platform for the mortgage industry, announced that it is rebranding to Aidium Mortgage CRM. Brands previously acquired by Daily AI — Whiteboard CRM and — will also be part of the Aidium portfolio. Aidium’s mortgage CRM platform is also getting a significant update to more efficiently streamline and automate mortgage loan origination processes.

Home finance software company Homebot announced its acquisition of Quo Finance, a mobile app that helps first-time homebuyers qualify for loans and guides them through the buying process. As part of the acquisition, Quo’s personnel, led by co-founders Tucker Haas and Neel Yerneni, will join the Homebot team. Terms of the transaction were not disclosed.

Intercontinental Exchange (ICE) and Black Knight have each filed responses to the Federal Trade Commission (FTC) challenge to their proposed merger. “Answer and Defenses” documents filed with the FTC on Monday by both companies assert that they have taken steps to address the “anticompetitive harm” that could arise from ICE’s acquisition of Black Knight. Specifically, the documents claim that the FTC’s complaint ignores Black Knight’s agreement to divest its Empower loan origination system, as well as other products, to Constellation Web Solutions, conditional to the approval of the ICE-Black Knight merger. Even without the divestiture, Black Knight’s response claims that the proposed transaction “would have no substantial anticompetitive effect on an industry characterized by dynamic competition and an influx of new entrants.”


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