ICE Launches Mortgage Insurance Center for Encompass Digital Lending Platform with Integrations to All Major MI Providers
MI Center adds important link to end-to-end digital service chain
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced the launch of the Encompass Mortgage Insurance (MI) Center, now available to users of ICE's end-to-end digital lending platform. MI services from third-party providers Arch MI, Enact, Essent, MGIC, National MI and Radian are available.
Available on both desktop and web versions of Encompass®, MI Center features improved order management functionality, enhanced rate quote comparison capabilities and direct navigation to ordering via Encompass Partner Connect™ (EPC), to create a much more intuitive and comprehensive mortgage insurance workflow experience for lenders.
"With the addition of MI Center, Encompass now offers lenders a full array of tools and ordering options to digitally initiate and complete mortgage transactions on ICE technology," said Tim Bowler, President of ICE Mortgage Technology™. "With all major MI providers available at launch, we're opening doors for lenders to effectively engage with and order mortgage insurance, all through a single interface."
MI Center supports workflow activities pertinent to the mortgage insurance ordering and management process, including comparing rate quotes, managing orders, and uploading documents. Enhanced integrations allow lenders to receive MI quotes from multiple service providers with a single click. Results are grouped by product type but may also be viewed by provider.
EPC integrations were built around the newer MISMO 3.4 data set, which provides a more complete loan data set to MI providers. This gives providers a richer, more robust data set from which to make their evaluations and issue their rate quotes and MI commitments. With the new MI EPC integrations, rate quote documents and insurance certificates will now include the provider's name and type of document in the Encompass eFolder.
About Encompass Partner Connect
Encompass Partner Connect enables the integration of key third-party products and services with ICE Mortgage Technology solutions. ICE does not own, control, nor endorse any specific industry participant or the product/service provided. Loan originators and servicers are responsible for vetting, selecting, and contracting with the providers of their choosing.
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.
About Arch MI
Arch MI, a wholly owned subsidiary of Arch Capital Group Ltd., (NASDAQ:ACGL) is a leading provider of private insurance covering mortgage credit risk in the U.S. Headquartered in Greensboro, North Carolina, Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Arch MI's flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, visit archmi.com.
About Enact
Enact (NASDAQ:ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
About Essent
Essent Guaranty, Inc. is a private mortgage insurer focused on managing risk and dedicated to serving as a strong and fair counterparty. Their risk-based pricing engine, EssentEDGE®, delivers mortgage insurance (MI) pricing that goes beyond traditional credit factors, offering lender partners the potential to expand access to MI for more qualified borrowers. Learn more at essent.us.
About MGIC
Mortgage Guaranty Insurance Corporation ("MGIC"), the principal subsidiary of MGIC Investment Corporation (NYSE:MTG), serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance.
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ:NMIH), is a U.S.-based private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com.
About Radian
Radian Group Inc. (NYSE:RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit radian.com and homegenius.com to learn more about how Radian and its pioneering homegenius platform are building a smarter future for mortgage and real estate services.
Source: Intercontinental Exchange
Category: Mortgage Technology
ICE-CORP
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