General World News

ICE’s mortgage business outperforms in Q3 despite industry tailwinds

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing.

ICE attributed “an analog to digital conversion occurring in the U.S. residential mortgage industry” for its mortgage business outperforming in Q3 even as the industry experienced a nearly 20% decline in origination volumes. 

Strong sales in its Encompass loan origination system, as well as its mortgage servicing platform (MSP) solutions business, drove an improved adjusted operating income for the mortgage details ⇒

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