“This new UX is a foundational step in modernizing MSP,” mentioned Bob Hart, president of ICE Mortgage Technology. “Section one is not only about enhancing platform navigability; it’s already permitting us to roll out second-phase enhanced automation and AI-driven productiveness brokers that cut back guide effort and assist servicers scale extra effectively.”
ICE mentioned the enhancements permit servicers to consolidate exception critiques into single-screen workflows, lowering the amount and want for human evaluation. The corporate has targeted its preliminary automation efforts on servicing processes that usually require probably the most guide intervention, with some capabilities already out there.
As a part of Tuesday’s announcement, ICE is introducing enhanced escrow and investor reporting automations enabled by the up to date interface. The escrow automation can cut back guide touchpoints by as much as 87% and shorten processing occasions from about 10 days to as few as two.
Automation for Freddie Mac loan-level investor reporting is anticipated to scale back guide steps by as much as 68%, ICE mentioned.
ICE mentioned the brand new person expertise may be adopted with out reimplementation or disruption to present integrations. The replace follows different current servicing enhancements, together with AI-based name prediction and account summarization instruments, in addition to tighter integration between ICE’s servicing and origination platforms that enables debtors to use for residence fairness or refinance loans by way of servicing portals.
“We’re deeply targeted on delivering tangible ROI for our clients by way of steady innovation,” Hart added. “MSP is already probably the most complete mortgage servicing system in the marketplace, and these enhancements not solely help our clients at this time, however lay the groundwork for higher interoperability and quicker function growth sooner or later.”
