ICE Enhances Encompass Digital Mortgage Lending Platform, Helping Lenders Connect Homebuyers to Affordable Financing Options
19 Agosto 2024 - 8:00AM
Business Wire
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
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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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