ICE Mortgage Technology Acquires eVault Tech From DocMagic – NMP Skip to main content

ICE Mortgage Technology Acquires eVault Tech From DocMagic

Navi Persaud
Jun 14, 2021

ICE Mortgage Technology will integrate newly acquired eVault technology into its Encompass eClose platform.

ICE Mortgage Technology, part of Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure, announced it will release an eVault solution for secure storage of digital mortgages and notes, based upon technology acquired from DocMagic, Inc.

The eVault technology will be integrated into ICE’s mortgage closing platform, Encompass eClose. Encompass eClose gives lenders the ability to electronically facilitate every aspect of the eClosing workflow, from ordering documents to delivering loans to investors - and all steps in between.

“By creating an end-to-end solution and further automating the mortgage closing process, we’re helping the industry transition to paperless closings and enabling more efficient processes for our customers,” said Joe Tyrrell, president, ICE Mortgage Technology. “We acquired technology from DocMagic, who has deep experience in the mortgage space, and when this technology is integrated with our other services, Encompass eClose will enable customers to eliminate time and cost in the closing process and create better experiences for borrowers.”

ICE Mortgage Technology combines technology and data to automate the entire mortgage process from consumer engagement through loan registration. Mortgage lenders, agents, technology partners and mortgage investors can use the capabilities of ICE Mortgage Technologies solutions to drive efficiencies and profitability for their businesses.

The transaction will not be material to ICE’s earnings or have an impact on capital allocation plans, according to a press release.

Jun 14, 2021
More from
Blend Labs Has Cut 420 Jobs Since April

The 25% reduction of its workforce comes as it posts $478 million Q2 loss.

Industry News
Aug 17, 2022
Gambling On A Fully-Mobile Mortgage Future

Developer of Bee app claims an entirely contactless process coming soon

Aug 16, 2022
How Mortgage Tech Innovation Will Enable Future Real Estate Transactions

Innovation is needed in these areas and the opportunity is significant.

Aug 16, 2022
Redfin Expands iBuying Business To Florida

RedfinNow, which makes cash offers for homes, now operates in 34 markets in 16 states and the District of Columbia.

Aug 11, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
Deal With Opendoor Allows Zillow Back Into iBuying Business

As it releases rough 2Q earnings report, Zillow announces partnership with former rival.

Aug 04, 2022