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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, announced that Carrington Mortgage Services, LLC, one of the nation’s largest privately held non-bank lenders, is returning to ICE’s Encompass® mortgage lending platform. Carrington will use Encompass across its retail, wholesale and correspondent lending channels to electronically capture, process, underwrite and close mortgage loans and equity products through a single technology solution.
Carrington made the decision to return in large part due to ICE’s continued, focused investments in Encompass as part of the company’s vision for an interconnected, end-to-end digital real estate and housing finance ecosystem. Carrington Mortgage Services will also continue to leverage the multiple ICE origination, invoicing and data and analytics offerings it currently uses in support of its mortgage operations today.
“We’ve watched as ICE has made significant investments in Encompass over the years,” said Bruce Rose, CEO & Founder, The Carrington Companies. “As we saw the end-to-end solution they were building take shape, it became clear to us that our mortgage operations would be well-served by ICE’s new, more expansive and integrated lending platform.”
Encompass is the housing finance industry’s leading end-to-end digital mortgage solution, delivering efficiencies and introducing transparency to the residential lending ecosystem. Encompass helps lenders acquire more customers and originate, sell and purchase loans faster and more cost effectively, all from a single system of record.
“We’re happy to have Carrington Mortgage Services move their mortgage lending channels back onto Encompass,” said Ben Jackson, President of ICE. "Their return speaks to the value of ICE’s investments – not only in Encompass as a mortgage lending platform, but our larger, wider investment in the digitization of housing finance.”
