ICE Mortgage Technology has released Ask Regi, an AI-assisted search tool for its AllRegs platform that helps users quickly find regulatory guidance using conversational queries in addition to traditional keyword searches.
The mortgage technology company said Ask Regi is designed to streamline response times “by delivering precise search result summaries of complex questions applied to AllRegs, the most comprehensive regulatory reference database in the industry, covering nearly one million pages of published compliance and investor content.”
Ellie Mae acquired AllRegs, arguably the best known repository for regulatory search and guidance, in 2014 for $30 million. Six years later, Intercontinental Exchange acquired Ellie Mae for $11 billion.
“Ask Regi is the latest example of how ICE is listening to what our clients are telling us they need,” Tim Bowler, president of ICE Mortgage Technology, said in a prepared statement. “By offering clients a shorter, easier path to answering complex regulatory questions that impact mortgage lending and servicing, we’re creating an opportunity for them to use regulatory intelligence more efficiently and effectively when helping households on their home ownership journey.”
The move comes amid a large-scale overhaul of ICE’s mortgage technology platforms. The company is in the process of moving its Encompass platform to API-based technology in the coming years. It’s also sunsetting its legacy CRM and transitioning fully to the more modern Surefire technology.
