ATLANTA & NEW YORK– This represents the primary joint product that leverages anonymized transaction information from ICE Mortgage Expertise and ICE’s experience in figuring out and creating new different information choices.
The mortgage charges are a part of a brand new information service known as ICE Locked Price Feed, which supplies a each day, anonymized feed of residential mortgage charges throughout 45 completely different mortgage packages from mortgages that had been closed on ICE Mortgage Expertise’s mortgage origination system (LOS), Embody, one of many largest digital lending platforms within the U.S. residential mortgage market. The ICE Locked Price Feed has been built-in into the ICE Knowledge Analytics mortgage prepayment mannequin.
“By leveraging this new dataset from ICE Mortgage Expertise, we’re capable of improve from a course of that estimates mortgage charges utilizing a weekly survey to each day transaction-based rates of interest, with far more transparency into the mortgage market,” mentioned Lynn Martin, President of Mounted Revenue and Knowledge Providers at ICE. “This is a vital new providing for each the mounted revenue and lending market, and it builds on the deep expertise ICE has for bringing new merchandise and know-how to market.”
“This resolution highlights the influence that ICE can convey to our prospects by combining our information and mortgage backed safety experience with our complete mortgage processing community to ship new improvements,” mentioned Joe Tyrrell, President, ICE Mortgage Expertise. “By leveraging our real-time information, ICE Knowledge Providers is offering mounted revenue traders and market individuals entry to high-quality instruments and analytics that join disparate processes. ICE Mortgage Expertise’s options proceed to draw new prospects and our deep experience as the biggest digital community of mortgage stakeholders permits us to seize and capitalize on these alternatives.”
Prepayment fashions are a crucial element for mounted revenue traders in figuring out the worth sensitivity and money circulation dangers of mortgage backed securities — each for mortgage swimming pools and collateralized mortgage obligations (CMOs). For lenders, the ICE Locked Price Feed supplies a dependable, up-to-date aggregated view into aggressive lending charges, permitting them to benchmark their very own merchandise to others available in the market.
ICE is a number one supplier of mortgage-backed securities worth evaluations, publishing greater than 200,000 U.S. company and non-agency collateralized mortgage obligations. ICE calculates and publishes each day evaluations throughout a number of geographies and currencies for about 3 million monetary devices. ICE publishes reference information on greater than 35 million monetary devices that helps prospects improve threat administration, preserve compliance and maximize operational efficiencies. For extra data on ICE Knowledge Analytics or the brand new ICE Locked Price Feed, please go to https://www.theice.com/data-analytics.
About Intercontinental Alternate
Intercontinental Alternate, Inc. (NYSE: ICE) is a Fortune 500 firm that designs, builds and operates digital networks to attach individuals to alternative. We offer monetary know-how and information companies throughout main asset courses that supply our prospects entry to mission-critical workflow instruments that improve transparency and operational efficiencies. We function exchanges, together with the New York Inventory Alternate, and clearing homes that assist individuals make investments, increase capital and handle threat throughout a number of asset courses. Our complete mounted revenue information companies and execution capabilities present data, analytics and platforms that assist our prospects capitalize on alternatives and function extra effectively. At ICE Mortgage Expertise, we’re remodeling and digitizing the U.S. residential mortgage course of, from shopper engagement by mortgage registration. Collectively, we rework, streamline and automate industries to attach our prospects to alternative.
Emblems of ICE and/or its associates embrace Intercontinental Alternate, ICE, ICE block design, NYSE and New York Inventory Alternate. Data concerning extra logos and mental property rights of Intercontinental Alternate, Inc. and/or its associates is situated right here. Key Data Paperwork for sure merchandise coated by the EU Packaged Retail and Insurance coverage-based Funding Merchandise Regulation might be accessed on the related change web site beneath the heading “Key Data Paperwork (KIDS).”
Protected Harbor Assertion beneath the Personal Securities Litigation Reform Act of 1995 — Statements on this press launch concerning ICE’s enterprise that aren’t historic details are “forward-looking statements” that contain dangers and uncertainties. For a dialogue of extra dangers and uncertainties, which may trigger precise outcomes to vary from these contained within the forward-looking statements, see ICE’s Securities and Alternate Fee (SEC) filings, together with, however not restricted to, the chance components in ICE’s Annual Report on Type 10-Okay for the yr ended December 31, 2020, as filed with the SEC on February 4, 2021.