ICE Mortgage Technology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes.
The company this week announced the debut of ICE Asset Analyzer and ICE Audit Analyzer, adding to the existing ICE Income and ICE Credit analyzers.
The products, which are fully integrated into the Encompass system, allow mortgage professionals to quickly and accurately streamline lending processes, improve accuracy and support compliance efforts, the company said.
Asset Analyzer uses data analysis and configurable logic to “simplify the traditionally manual process of assessing borrower assets,” ICE said. It added that its key tasks include identifying large deposits, recognizing withdrawal patterns and applying a standardized checklist to ensure consistency across loans. The tools allow lenders to free up employees to execute higher-value work, ICE said.
ICE’s Audit Analyzer is designed to improve post-closing quality control. Instead of relying on manual checklists, the tool uses automated technology to help identify missing documents, data discrepancies and compliance risks to ensure document accuracy, improve regulatory adherence and limit repurchase risk.
“This expansion of our popular Analyzer automations is another example of how ICE is listening to our customers and providing them with the intelligent tools they say they need to drive cost savings, improve loan quality, and deliver an exceptional borrower experience,” Tim Bowler, president of ICE Mortgage Technology, said in a statement.
“By integrating these Analyzers within Encompass, we’re enabling our customers to perform more of their essential work within a single platform, making their lives easier, and saving them time and money they’d otherwise have to spend performing these functions offline.”
