Mortgage Servicer Lobs Antitrust Claims At Software Provider

Law360 (November 6, 2019, 10:32 PM EST) -- PennyMac Loan Services LLC sued software provider Black Knight Inc. in California federal court Wednesday, accusing the company of stifling competition in the market for mortgage servicing software, a day after Black Knight sued for contract breach and misappropriation of trade secrets.

The dispute centers on Black Knight’s mortgage servicing platform, or MSP, which PennyMac has used to help service residential loans since 2008. PennyMac’s suit accuses Black Knight of maintaining its dominance over the market for the loan servicing systems through a pattern of anti-competitive, unfair and discriminatory practices, rather than through innovation.

These efforts have allegedly included forcing customers...

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