PennyMac Expands Use of ICE Mortgage Technology Suite with Encompass Investor Connect to Accelerate Correspondent Digitization | Business

PLEASANTON, Calif .– (BUSINESS WIRE) – September 22, 2021–

ICE TM Mortgage Technology, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced its latest partnership with PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Integration with ICE Mortgage Technology’s Encompass® Investor Connect will make PennyMac the largest aggregator of correspondents within a network of correspondent investors available on a single platform.

The partnership will enable a more streamlined loan delivery, which will translate into improved efficiency, loan quality and speed of financing, all at no additional cost to Encompass customers.

“We are excited to expand our partnership with PennyMac as we both work to help further automate the mortgage industry,” said Parvesh Sahi, senior vice president of business and client development at ICE Mortgage Technology. “PennyMac shares our vision of creating a seamless digital experience from concept to loan delivery. By participating in Investor Connect, PennyMac makes it easier for our mutual clients to create valuable efficiencies derived from operating digital solutions. “

PennyMac further digitizes the loan review and purchasing process by leveraging Encompass Investor Connect’s digital loan delivery. The process also enhances two-way communication to enable sellers to receive and clarify terms within their loan pipeline.

“This is yet another demonstration of PennyMac’s continued commitment to leveraging innovative technologies to connect end-to-end processes to improve the loan manufacturing process and customer experience, from borrowers to lenders on the way. by corresponding investors, ”said Doug Jones, president and director of mortgage banking. by PennyMac. “As an investor, we reach our clients where their loans reside, which translates into faster receipt of consistent, better quality loans and, in turn, allows us to review and buy faster. , all leading to more cash and more opportunities throughout the mortgage process. “

For more information on Encompass Investor Connect, visit: https://www.icemortgagetechnology.com/encompass/encompass-investor-connect

ICE Mortgage Technology combines technology, data and expertise to automate the entire mortgage process, from consumer engagement to loan registration, all the steps and tasks in between. ICE Mortgage Technology is the leading provider of cloud-based loan origination platform for the mortgage industry, with solutions that empower lenders to create more loans, lower origination costs and reduce closing time. , while ensuring the highest levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 for more information.

About the intercontinental exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services in major asset classes that provide our clients with access to essential workflow tools that increase transparency and operational efficiency. We operate Exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our global fixed income data services and execution capabilities provide insights, analytics, and platforms that help our clients capitalize on opportunities and operate more efficiently. TO ICE Mortgage Technology, we’re transforming and digitizing the US residential mortgage process, from consumer engagement to loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunities.

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 can be found here. The key information documents for certain products covered by the EU Retail and Insurance Investment Products Regulation can be accessed on the website of the relevant exchange 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 risk. and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in forward-looking statements, see documents filed by the Securities and Exchange Commission (SEC) of ICE, including, but not limited to be limited to the risk factors in ICE’s annual report. Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 4, 2021.

About PennyMac Financial Services, Inc.

PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and management of US mortgages and the management of investments related to the US mortgage market.

Founded in 2008, the company is recognized as a leader in the residential mortgage industry in the United States and employs approximately 6,500 people across the country. For the twelve months ended March 31, 2021, newly issued loan production from PennyMac Financial totaled $ 228 billion in outstanding principal balance, making it the second largest mortgage lender in the country. As of March 31, 2021, PennyMac Financial was managing loans totaling $ 449 billion in outstanding principal balance, making it one of the top ten mortgage services in the country. Additional information about PennyMac Financial Services, Inc. can be found at ir.pennymacfinancial.com.

© 2021 ICE Mortgage Technology, Inc. All rights reserved. Encompass® and the ICE Mortgage Technology logo are registered trademarks of the entities of ICE Mortgage Technology, Inc.

Source: Intercontinental exchange

ICE-CORP

View source version on businesswire.com:https://www.businesswire.com/news/home/20210922005107/en/

CONTACT: Press contacts

Sara holtz

ICE Mortgage Technology

(925) 227-2193

[email protected] Jenny Gendron

ICE Mortgage Technology

(925) 227-3490

[email protected] Kristyn Clark

PennyMac Loan Services

(805) 231-1572

[email protected] Investor Contact ICEMary Caroline O’Neal

(770) 738-2151

[email protected]

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: COMMERCIAL AND REAL ESTATE BUILDING SOFTWARE CONSTRUCTION AND REAL ESTATE FINANCING PROFESSIONAL SERVICES REIT TECHNOLOGY RESIDENTIAL AND REAL ESTATE BUILDING

SOURCE: ICE Mortgage Technology

Copyright Business Wire 2021.

PUB: 09/22/2021 9:00 a.m. / DISC: 09/22/2021 9:02 a.m.

http://www.businesswire.com/news/home/20210922005107/en

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