Skip to main content

ICE Mortgage Announces 0 Percent Loans For HFA Borrowers

Navi Persaud
Oct 20, 2021
Photo of a small wooden house in the palm of someones hands.

ICE Mortgage Technology's latest Encompass update, Encompass 21.3 supports the ability for lenders to offer 0% loans.

According to the company, this is a step in helping first-time homebuyers achieve homeownership as it is becoming much harder to do so given the rise in home prices and scarcity in inventory.

“As a technology company, we have been driven by two guiding principles, which are lowering the cost of origination and acquisition for our lenders through automation, and to ensure that everyone has the ability to pursue the dream of homeownership,” said Joe Tyrrell, president of ICE Mortgage Technology. “So, providing a technology platform that supports all loan products, especially those designed to help the underserved markets, is consistent with our mission and our beliefs.”

The new Encompass 21.3 release will also offer expanded capabilities for originating mortgage loans, including simple interest and options supporting a $0.00 payment with and without a disclosed balloon, improved workflows for home equity loans and HELOCs, simple interest amortization calculations and payments, as well as automated service ordering for additional mortgage service categories.

ICE Mortgage Technology is also partnering with multiple state Housing Finance Authorities to include support for generating required agreements to support their products within the Encompass Docs solution. By offering this flexibility to lenders, organizations like Habitat for Humanity can continue to make and offer affordable homes to families who wouldn’t otherwise realize their dream of homeownership.

Oct 20, 2021
More from
AI Can Revolutionize Mortgage Licensing

Will AI unlock efficiency and accuracy in licensing or will it be an added compliance risk?

Sep 18, 2023
Snapdocs Promotes Michael Sachdev to CEO

Founder Aaron King becomes executive chairman.

Sep 14, 2023
Rate Table Roulette

Barrier to entry is steep in this direct-to-consumer advertorial method

Sep 07, 2023
Log In To Lock In

Meet the mortgage mavericks raking in followers on social media

Aug 29, 2023
Team Human

Tech innovations should assist — not replace — loan officers

Aug 29, 2023
When Chatbots Go Rogue

Threats are posed to customer service and needs

Aug 14, 2023