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The Industry Pulse: Updates on Black Knight, Gateway Mortgage, and More

The Industry Pulse

From quarterly earnings reports and new leadership to mergers and internal promotions, get the latest buzz on the industry in this weekly update.

Florida-based Black Knight Inc, a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets announced its unaudited second-quarter earnings recently. The company said that its revenues for the second quarter of 2018 increased 5 percent to $276.6 million from $262.2 million in the prior year quarter. Net earnings attributable to Black Knight for the second quarter of 2018 were $40 million, compared to $8.2 million during the same period last year.

Its adjusted revenues for the second quarter of 2018 increased 5 percent to $277.4 million from $263.4 million in the prior year quarter. Adjusted net earnings for the second quarter of 2018 increased 28 percent to $68.4 million compared to $53.4 million in the prior year quarter. Black Knight said that its adjusted net earnings per share for the second quarter of 2018 increased 31 percent to $0.46 per diluted share compared to $0.35 per diluted share in the prior-year quarter.

Kevin Stitt, chairman and CEO of Gateway Mortgage Group, LLC, one of the largest privately held mortgage origination and servicing companies in the United States, has announced the appointment of Stephen Curry as the new CEO of Gateway. Curry assumed responsibilities at the beginning of this month, succeeding Stitt, who founded Gateway in 2000, and has led the company for the past 18 years. Stitt will remain on as chairman.

“I am proud of all that we have accomplished in nearly two decades, and I am excited for the future of Gateway under Stephen Curry’s leadership,” Kevin Stitt said. “Curry shares Gateway’s passion to strengthen families through helping people achieve the American dream of homeownership. He is a proven leader who has driven strategy and growth for various financial institutions over the past 30 years, and I am confident in Curry’s ability to take Gateway to new heights.”

Primary Residential Mortgage, Inc. (PRMI) has announced the promotion of four of its executives: Tom George as EVP and Chief Production Officer, Ruth Green as EVP and COO, A.J. Swope as EVP of Secondary Marketing, and Mathew Whitebrook as SVP of Capital Markets.

“These promotions are reflective of the wealth of experience, dedication to excellence and skillful leadership of these four individuals,” said Dave Zitting, PRMI CEO and President. “In order for PRMI to continue on a path of growth and success, it’s critical to have leaders that are united in and guided by our core values, which Tom, Ruth, A.J., and Mat exemplify every day.”

ALAW, a creditors’ rights law firm which provides default, litigation, collection, title, and closing services to the mortgage banking industry, has announced its merger with Cleveland, Ohio based creditors’ rights law firm Felty and Lembright Co., L.P.A. Current Felty and Lembright Partners Kriss Felty, Mark Lembright, and Antonio Scarlato, will remain as partners of the combined entity, which will serve clients as Albertelli Law Partners of Ohio, LLC.

This acquisition further expands ALAW’s growing default services footprint, which will now include Alabama, Arkansas, Florida, Georgia, North Carolina, Ohio, South Carolina, Tennessee, Texas, and the U.S. Virgin Islands.

“We are thrilled to welcome Felty and Lembright to the ALAW family,” said Jim Albertelli, Founding Partner at ALAW. “They have built a tremendous practice and have a tremendous industry reputation based on the highest standards of excellence and integrity.”

About Author: Kristina Brewer

Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans.

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