Intercontinental Exchange , Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that PNC has expanded its use of ICE’s data and analytics solutions as part of their renewal of the MSP® loan servicing system . ICE’s proprietary mortgage data sets and advanced analytic models help companies adapt to changing market conditions and evaluate and mitigate portfolio risk.
“Today’s mortgage market is more challenging and nuanced than we’ve seen in decades,” said Tim Bowler, President of ICE Mortgage Technology. “As PNC works to maximize its technology investment, they are also realizing the value of ICE’s trusted valuation solutions, mortgage performance data, and prepayment and default models to help manage risk and uncover opportunities.”
ICE Automated Valuation Models (AVMs) help reduce regulatory compliance risk, decrease costs and turn times, and identify opportunities for growth. ICE AVMs combine mortgage performance and public records data sets with advanced modeling techniques, rigorous testing and technology that spans the entire real estate and mortgage continuum.
The ICE AFT Prepayment and Credit Model provides a single, comprehensive, holistic view of servicing portfolios, including an enhanced modeling tool for CECL and stress testing.
McDash® , ICE’s loan-level performance database, gives an unparalleled, granular view of the majority of the active mortgage market across the United States. McDash offers the deepest and broadest loan-level data repository in the industry to support research, modeling, risk-management, compliance and benchmarking needs. ICE’s servicer-contributed loan-level database of mortgage assets uses proprietary information to provide users with higher-quality model inputs to produce more reliable results.
“At ICE, our goal is to make the path to homeownership or refinancing an existing mortgage faster, simpler, and more transparent,” said Bowler. “PNC’s renewal with ICE will help them achieve just that.”
