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ICE Intercontinental Exchange Inc

162.76
-0.50 (-0.31%)
05 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Intercontinental Exchange Inc NYSE:ICE NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.31% 162.76 164.18 162.48 163.57 2,233,038 01:00:00

ICE Enhances Encompass Digital Mortgage Lending Platform, Helping Lenders Connect Homebuyers to Affordable Financing Options

19/08/2024 2:00pm

Business Wire


Intercontinental Exchange (NYSE:ICE)
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Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced several new enhancements to the Encompass® digital mortgage lending platform. As part of its mission of making the path to homeownership – and the experience from then on – as fast, accessible, and as simple as possible, ICE is making significant, ongoing investments to help lenders improve productivity, lower operational costs and provide more value to homebuyers.

With prospective homebuyers facing the most daunting affordability challenges in four decades, the most recent Encompass update features expanded capabilities for mortgage originators to offer beneficial affordable lending solutions for their customers. In addition, new features drive greater operational efficiency to help lower mortgage origination costs for lenders, and ultimately borrowers. Encompass now helps lenders quickly and easily determine a borrower’s eligibility for a Department of Housing and Urban Development affordable loan program based on the borrower’s FFIEC Median Income level for a given Metropolitan Statistical Area (MSA) or Area Median Income (AMI).

“Affordability challenges are at the root of today’s constricted housing and mortgage markets,” said Tim Bowler, President of ICE Mortgage Technology. “Everything we do is with an eye toward that economic reality. As we digitize the entire housing finance lifecycle, Encompass is continually updated to eliminate inefficiencies. The goal is to progressively reduce friction in the process – and with it, time and costs – via an integrated, end-to-end digital ecosystem. And by making the affordable loan eligibility identification process easier for lenders, we’re also making it easier for them to match the right mortgage programs to the prospective homebuyers, expanding the potential options our clients can offer households in this market.”

This is the second major Encompass release of 2024. In April, following a sneak preview for clients and partners during the company’s annual Experience conference in Las Vegas, ICE introduced powerful new capabilities that streamline document management and ensure data integrity throughout the mortgage lifecycle. Users also gained the ability to automate disclosures generation and simplify the underwriting process with the integration of ICE Data & Document Automation™ and ICE Mortgage Analyzers™ into the Encompass Underwriting Center.

“Encompass remains an integral piece of our mission to overhaul U.S. housing finance technology for the benefit of American families,” Bowler added. “Incorporating both input, feedback and testing from our customers and industry partners, we’re steadily delivering on our vision for an end-to-end digital ecosystem of solutions that improve the financial and operational performance of mortgage companies and, ultimately, deliver a better experience for homebuyers.”

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.

Category: Mortgage Technology

ICE-CORP

ICE Media Contact Mitch Cohen mitch.cohen@ice.com +1 704-890-8158

ICE Investor Contact: Katia Gonzalez katia.gonzalez@ice.com +1 (678) 981-3882

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