"ICE President Benjamin Jackson said that AI is transforming ICE's mortgage business from systems of record to systems of intelligence. ICE is using machine learning to automate underwriting, compliance and customer service processes across the loan life cycle, he said. Customers using ICE's MSP system save an estimated 20% to 30% on servicing costs, a figure the company expects will rise as it deploys new AI-powered capabilities such as predictive call summarization and borrower self-service tools."
"Gross revenue, minus transaction-based expenses, increased 3% from a year ago to $2.41 billion. Operating income climbed 6% to $1.17 billion, with an operating margin of 49%. ICE Mortgage Technology posted $528 million in revenue, up 4% from a year earlier, including $137 million in transaction revenue, up 12%. ICE said during the earnings call that growth was driven by its Encompass loan origination platform and Mortgage Electronic Registration Systems (MERS) and servicing software, with modest increases in data and analytics revenue."
Gross revenue, minus transaction-based expenses, increased 3% year over year to $2.41 billion. Operating income climbed 6% to $1.17 billion, producing a 49% operating margin. ICE Mortgage Technology generated $528 million in revenue, up 4%, including $137 million in transaction revenue, up 12%, with mortgage technology segment operating income of $22 million and a 4% operating margin; adjusted operating income was $224 million with a 42% adjusted margin. The company added two MSP servicing clients and 16 Encompass clients. Machine learning and AI are being deployed to automate underwriting, compliance and customer service, reducing servicing costs by an estimated 20–30% and accelerating MSP modernization timelines. ICE's exchanges segment produced $1.27 billion in net revenue; fixed income and data services revenue rose 5% to a record $618 million.
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