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ICE Invests in Product and Pricing Innovation, Introduces Newly Enhanced ICE PPE and Advisory Group

May 15, 2024

Intercontinental Exchange , Inc. (NYSE: ICE), a leading global provider of technology and data, today announced investments focused on growing its mortgage secondary market offerings and enhancing the Encompass digital lending platform’s native product and pricing engine. ICE has dedicated resources to driving a robust roadmap of features and improvements for ICE PPE (formerly EPPS) and secondary market innovation, informed by the regular, ongoing input of the elite group of lenders making up the ICE PPE Advisory Group.

Encompass users already have native access to thousands of loan products and a robust network of investors, wholesale lenders, and state and local housing authorities via ICE PPE. Taking product and pricing to the next level is key to ICE’s commitment to improve housing finance through digitization and provide the mortgage secondary market with the technology, systems, and insight needed to navigate and hedge against a turbulent interest rate environment.

“I talk with mortgage industry professionals every day, and one thing they’ve made crystal clear is a pressing, growing need for a stable, accurate, well-capitalized loan product and pricing engine,” said ICE president Ben Jackson. “With so much uncertainty in the market, lenders need to be able to rely on comprehensive and timely product pricing and eligibility. Margins have been compressed to historic lows, and we want to help our clients be in the best position to hold on to every possible basis point.

“To meet that need, ICE is investing significantly to dramatically enhance ICE PPE within our Encompass lending platform, and we are actively engaging with a select group of industry leaders as we chart the best course forward. Together with ICE’s expertise in building and operating digital, transaction-based networks, and our proven playbook of increasing efficiencies through digitization, it’s this collaborative approach that will trigger the next great stage of evolution for PPEs and secondary market hedging platforms.”

ICE PPE will provide enhanced automation and configuration capabilities with streamlined support for custom loan programs and overlays. As part of ICE’s overall mission to streamline and simplify housing finance, the company is committed to delivering a highly performant, intuitive solution that integrates seamlessly with Encompass and the wider ICE housing finance digital ecosystem. To support this product evolution, ICE is actively expanding the associated product development, solutions engineering and support resource teams with experienced industry professionals.

The ICE PPE Advisory Group is composed of leading mortgage lenders – including both users of Encompass’ product pricing capabilities as well as those who employ other available pricing engines. Beginning with a kickoff at the Mortgage Bankers Association’s Secondary Marketing conference in May, the advisory group will continue to meet regularly to identify common challenges and find solutions to pricing and other problems faced by lenders and those in the secondary and capital markets.

For more information on ICE PPE visit us here .

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology , we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here . Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.

Category: Mortgage Technology


Source: Intercontinental Exchange

ICE Media Contact

Mitch Cohen

+1 704-890-8158

ICE Investor Contact:

Katia Gonzalez

+1 (678) 981-3882

Source: Intercontinental Exchange

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