Fifth Third Bank, An Ohio-based regional bank has relocated its origination and servicing operations to: Intercontinental Exchange (ICE) Mortgage Technology's end-to-end mortgage technology ecosystem, the companies announced on Tuesday.
Banks will rely on ICE's loan origination and repayment platform. include and MSP, handles both first lien and home equity products. Fifth Third will also incorporate ICE's consumer-facing capabilities. digital services, provides self-service features and information for borrowers about loans, real estate, and neighborhoods. It can be used as a channel for mortgage holders to seek assistance in times of distress, or as a platform for lenders to advertise equity-based loans and refinancing opportunities.
“At Fifth Third, we are committed to digitizing the entire homebuying experience, giving customers control, choice and transparency along the way,” Jay Plumb, executive vice president and head of mortgage lending at Fifth Third, said in a statement. We're making sure that they have sex,” he said.
“ICE’s approach to modernizing housing finance through integrated technology and seamless data sharing aligns perfectly with what we aim to achieve for our customers. We share a vision of creating a smooth, simple, and accessible experience from the beginning to the long-term service experience.”
Additionally, Fifth Third Bank will also leverage several ICE data and analytics solutions, including the Rapid Analytics Platform (RAP), to reduce risk and support data-driven decision-making.
“Fifth Third is well known for our commitment to providing the best digital mortgage experience,” Tim Bowler, president of ICE Mortgage Technology, said in a statement. “That’s the common goal we share.
“Fifth Third’s use of Encompass and MSP to provide and service both first lien and home equity lending products is a significant benefit to the data and analytics solutions that ICE provides to improve the customer experience. Together, this will help the bank further drive its own digital initiatives.”
On Monday, Lennar Mortgage also announced it would be moving its servicing operations to ICE Mortgage Technology's MSP system.
