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.
