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
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version on businesswire.com: https://www.businesswire.com/news/home/20240320954403/en/
ICE Media Contact Mitch Cohen mitch.cohen@bkfs.com +1
704-890-8158 ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com +1 (678) 981-3882
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