Two Harbors to Use ICE’s Encompass Digital Mortgage Platform in Servicing Retention Strategy via Direct-to-Consumer Lending Channel
August 06 2024 - 9:00AM
Business Wire
Encompass chosen for comprehensive
capabilities, configurability, and rapid implementation
Intercontinental Exchange, Inc. (NYSE: ICE), a
leading global provider of technology and data, today announced
that Two Harbors Investment Corp.(NYSE:TWO) (“Two Harbors”), an MSR
+ Agency RMBS real estate investment trust, has selected the
Encompass® digital mortgage platform to support their new
direct-to-consumer recapture originations channel. Part of ICE’s
end-to-end digital housing finance ecosystem, Encompass is the
mortgage industry’s leading digital platform for lenders to
originate, service, sell and purchase loans faster – all from a
single system of record.
Since acquiring RoundPoint Mortgage Servicing LLC (“RoundPoint”)
in 2023, Two Harbors has become the eighth largest servicer of
conventional loans in the country. The decision to expand into
mortgage loan originations is key to their strategy of retaining
servicing customers when interest rates drop and borrowers begin to
refinance their loans. After a thorough search, Two Harbors
identified Encompass as their platform partner in their effort to
build out a direct-to-consumer channel to streamline origination
workflows and provide an exceptional borrower experience.
“The built-in configurability and smooth implementation process
with ICE meant that we were able to begin offering loans to our
customers at RoundPoint within several months of our decision to go
with Encompass,” said Bill Greenberg, Two Harbors’ President and
CEO. “We’re planning to continue to take advantage of the
additional capabilities and greater efficiencies within the
integrated ICE technology ecosystem. When we consider the scope of
what we can achieve together, the possibilities are exciting and
will be beneficial to our customers.”
Encompass is key to the ICE end-to-end mortgage technology
ecosystem, which is digitizing the entire real estate and housing
finance lifecycle to create a better experience for lenders,
homeowners, and investors. ICE is committed to investing in new
innovations that help companies drive operational efficiencies
across their entire business with visibility and control.
“We’re proud that Two Harbors chose the Encompass digital
lending platform as they strategically expand their mortgage
offerings.” said Tim Bowler, President of ICE Mortgage Technology.
“ICE’s technology will help them better meet the needs of borrowers
in this continuously evolving market. Two Harbors has been able to
quickly deliver for their customers – a testament to our ongoing
commitment to innovation that both helps mortgage companies operate
more efficiently and delivers a better experience to the American
homeowner.”
About Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real
estate investment trust that invests in mortgage servicing rights,
residential mortgage-backed securities and other financial assets.
Two Harbors is headquartered in St. Louis Park, Minn.
About RoundPoint Mortgage Servicing LLC
RoundPoint Mortgage Servicing LLC is a non-bank mortgage
servicing and origination company founded in 2007. In 2023,
RoundPoint was acquired by Two Harbors Investment Corp. (NYSE:
TWO). RoundPoint has offices in Fort Mill, S.C. and Coppell,
Texas.
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
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20240806682704/en/
ICE Media Contact Mitch Cohen mitch.cohen@ice.com
+1 704-890-8158
ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com +1 (678) 981-3882
Two Harbors Investment Corp. Investor and Media Contact:
Margaret Karr Head of Investor Relations and Communications
Margaret.Karr@twoharborsinvestment.com +1 (612) 453-4080
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