In The NewsLoan Servicing

Lennar Mortgage Moves Servicing Operations To ICE Mortgage Technology For Seamless Systems Integration

Intercontinental Exchange, Inc. (NYSE: ICE), a provider of technology and data, announced that Lennar Mortgage will move its servicing operations onto the industry-leading ICE MSP loan servicing system. Already a longtime user of ICE’s Encompass digital lending platform, Lennar will see greater efficiencies and compliance support from the seamless integration of the systems via the ICE end-to-end technology ecosystem.

“Lennar values the relationship we’ve developed and strengthened with ICE over the years,” said Laura Escobar, President of Lennar Mortgage. “We also see the clear benefit in leveraging the deep integrations between Encompass and MSP. Our loans are serviced in-house for a brief time, which means risk management, regulatory compliance, and customer-facing capabilities need to perform from minute one. It also means we need to be able to move loans quickly and seamlessly from origination into servicing, and then on to their final destination just as easily. ICE’s mission to digitize and streamline all aspects of the housing finance lifecycle aligns perfectly with our goal to create the world’s simplest path to homeownership.”

An interim servicer, Lennar selected MSP for its strong focus on regulatory compliance and risk management, and for MSP’s ease and digitization of servicing transfers. By using MSP in conjunction with Encompass, Lennar will reap the benefits of a seamless, digital mortgage ecosystem; helping to lower costs, save time and engage customers across its lending and servicing channels. Lennar will also use multiple data and analytics solutions powered by ICE’s rich mortgage dataset to further help mitigate risk and gain critical insights to support data-driven decision making.

In addition to Encompass and MSP, Lennar will incorporate ICE’s consumer-facing Servicing Digital, which provides borrowers with self-service capabilities and information about their loan, property and neighborhood. It also serves as a channel for mortgage holders to seek assistance in times of distress.

With Lien Alert, an efficient, cost-effective portfolio monitoring solution, Lennar will receive early notifications of critical property-related events, helping the company respond quickly to competitive pressures and proactively manage risk. McDash, ICE’s loan-level dataset – the deepest and broadest such repository in the industry – will give Lennar an unparalleled view of mortgage performance across the U.S. for benchmarking and strategic planning. Plus, with the Actionable Intelligence Platform (AIP), Lennar will be able to proactively monitor and manage their operations, using data to support organizational-level decision making.

“ICE is digitizing and improving every aspect of housing finance for our clients, including both long-term servicers and interim servicers like Lennar,” said Tim Bowler, President of ICE Mortgage Technology. “By choosing MSP to work in concert with Encompass, Lennar is unifying the typically disparate halves of the mortgage equation, and will be well positioned to originate new loans, service them, and transfer them efficiently, while supporting changing regulations and safeguarding their customers’ personal data.”