ICE Mortgage Technology (IMT) announced new integrations between its origination and servicing solutions that allow homeowners to apply for home equity loans (HELs), home equity lines of credit (HELOCs) and refinance loans from their ICE-supported mortgage servicing portal. The integration marks a milestone in the interconnectivity of IMT’s end-to-end, life-of-loan platform and delivers functionality at a time when mortgage businesses are more focused on customer retention strategies, according to a release.
“Supporting a modern, customer-friendly experience that promotes lifelong borrower retention on the front end and operational efficiency on the back end is key to lender performance,” IMT President Tim Bowler said in a release. “By making it easy for homeowners to explore, apply and close home equity and refinance loans from within their digital servicing interface, we’re supporting an engaging experience that fosters brand loyalty and helps lenders scale without increasing operational overhead.”
The new functionality is available to lender-servicers who are using the MSP servicing system and the Encompass loan origination system. Now when homeowners access Servicing Digital, the MSP digital consumer interface, to manage their existing mortgage, they can apply for a refinance loan, HEL or HELOC with an application that has been prefilled with borrower data from MSP. Once submitted, loan applications are processed by Encompass, and borrowers receive status updates via Servicing Digital.
“Now, lender-servicers can deliver a self-service home equity and refinance lending experience via an interconnected technology platform — helping them recapture more business, deepen customer relationships and reduce operational complexity,” Bowler said. “This is another example of the regenerative power of our end-to-end, life-of-loan platform. Using our solutions together unlocks additional features and efficiencies while simplifying home financing for consumers.”
ICE Mortgage Technology is part of Intercontinental Exchange Inc.