ICE Further Automates Credit Dispute Processing for Servicers With Enhancements to Credit Bureau Management

ATLANTA & NEW YORK--(BUSINESS WIRE)--Sep 24, 2024--

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced enhancements that allow the ICE Credit Bureau Management solution to automate the credit dispute process and help servicers save critical time as they work to meet their 30-day reporting obligations under the Fair Credit Reporting Act.

Integrated with the MSP ® loan servicing system, Credit Bureau Management helps make the investigation process more efficient by compiling borrower information and pre-filling the forms involved in a dispute using the data from MSP. With the enhancements, Credit Bureau Management now allows servicers to automatically send those completed forms to third-party credit bureau reporting agencies without requiring manual re-entry of that data. This automation saves time and helps reduce the risk of errors in this process.

“ICE understands and appreciates how quickly servicers must act to complete their investigation into a credit dispute,” said Tim Bowler, President of ICE Mortgage Technology. “The new efficiencies we have introduced to Credit Bureau Management provide outsized value to servicers by reducing repetitive, manual data entry and saving servicers time when it matters most.”

A comprehensive consumer credit dispute solution, Credit Bureau Management helps servicers index disputes, compile information for investigations, preserve audit trails and manage pipeline workflows. Servicers can view a work item list that keeps track of work in progress and allows disputes to be assigned to different back-office users, introducing greater efficiencies for servicing teams.

“Every individual has the right to a fair and accurate credit history, and ICE is proud to help servicers equitably and efficiently settle credit disputes,” said Bowler. “Our enhancements to Credit Bureau Management are part of our broader mission to systematically reduce inefficiencies across the housing finance life cycle, and to help our clients consistently provide the best experience possible for the homeowner.”

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges –  including the New York Stock Exchange –  and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.

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 is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website 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 risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.

Category: Mortgage Technology

ICE-CORP

View source version on businesswire.com:https://www.businesswire.com/news/home/20240924539027/en/

CONTACT: ICE Media Contact

Mitch Cohen

mitch.cohen@ice.com

+1 704-890-8158ICE Investor Contact:

Katia Gonzalez

katia.gonzalez@ice.com

+1 (678) 981-3882

KEYWORD: NEW YORK GEORGIA UNITED STATES NORTH AMERICA

Copyright Business Wire 2024.