Lennar Mortgage Moves Servicing Operations to ICE Mortgage Technology for Seamless Systems Integration
19 March 2024 - 7:00AM
Business Wire
The MSP® loan servicing system will help Lennar
enhance customer service, support regulatory compliance and
mitigate risk, while introducing efficiencies and streamlining
servicing transfers
Intercontinental Exchange, Inc. (NYSE: ICE), a
leading global provider of technology and data, today 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.”
About Lennar Mortgage
Lennar Mortgage is a proud member of the Lennar family of
companies. Lennar Corporation, founded in 1954, is one of
the nation's leading builders of quality homes for all generations.
Lennar builds affordable, move-up and active adult homes primarily
under the Lennar brand name. Lennar's Financial Services segment
provides mortgage financing, title and closing services primarily
for buyers of Lennar's homes and, through LMF Commercial,
originates mortgage loans secured primarily by commercial real
estate properties throughout the United States. Lennar's
Multifamily segment is a nationwide developer of high-quality
multifamily rental properties. LENX drives Lennar's technology,
innovation and strategic investments.
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.
Source: Intercontinental Exchange
Category: Mortgage Technology
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20240318421184/en/
ICE Media Contact Mitch Cohen mitch.cohen@bkfs.com +1
704-890-8158
ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com +1 (678) 981-3882
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