Mortgage platform provider ICE Mortgage Technology today announced further integration of its Encompass origination and MSP servicing solutions. With the changes, homeowners can apply for home equity loans, home equity lines of credit (HELOCs), and refinance loans directly from their ICE-supported mortgage servicing portal.
The new functionality is available to lender-servicers who are using both the MSP servicing system and the Encompass loan origination system, according to the company. ICE is targeting an easier, more seamless experience for homeowners.
With the enhanced integration, when customers access Servicing Digital, MSP’s digital consumer interface, to manage their existing mortgage, they can apply for a refinance, home equity loan, or HELOC with an application prefilled with borrower data from MSP.
Once submitted, loan applications are processed by Encompass, and borrowers then receive status updates via Servicing Digital. The new MSP-Encompass functionality comes at no additional cost, and Servicing Digital is available via web or mobile app.
The company noted the integration marks “a significant milestone in the interconnectivity of ICE Mortgage Technology’s end-to-end, life-of-loan platform” and introduces recapture functionality as mortgage businesses are increasingly focused on customer retention.
“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,” stated Tim Bowler, president of ICE Mortgage Technology, in a release.
Bowler emphasized that the Encompass-MSP integration is designed to help lender-servicers:
- Recapture more business;
- Deepen customer relationships; and
- Reduce operational complexity.
“Using our solutions together unlocks additional features and efficiencies while simplifying home financing for consumers,” he contended.
