ICE looks to rethink the mortgage servicing experience

Intercontinental Exchange (ICE) introduced MSP Digital Experience (MSP DX), a conversational user interface designed to interact with the company’s leading mortgage servicing system, MSP.

MSP DX provides servicing professionals with an intuitive, dynamic and conversational approach to working within MSP. The new interface is poised to streamline workflows, enhance efficiencies and simplify the training process for servicing team members.

The introduction of MSP DX is particularly significant as ICE launches it with a focus on escrow management, which is traditionally one of the most complex and costly aspects of mortgage servicing. This functionality was recently previewed at the ICE Experience 2024 conference in Las Vegas, where it received widespread acclaim from industry leaders.

“Mortgage escrow is inherently complex, and the technology lift to handle the many moving parts is significant,” Tim Bowler, president of ICE Mortgage Technology, said in a statement. “But with the introduction of MSP DX we are helping servicers manage the escrow process more efficiently. This will enhance workflow management for servicers and improve the household experience.”

MSP DX empowers servicing professionals to interact with the system using everyday language, simplifying tasks and enhancing the user experience.

“MSP DX represents a significant leap forward for the industry and serves up what users need, when they need it,” Bowler said. “It automates routine tasks so users can focus on more strategic and meaningful work. While we started with escrow, we will continue to make further investments to enhance workflow and flatten learning curves throughout the mortgage servicing process.”

In the past few months, ICE launched other products, including a mortgage insurance center on its Encompass loan origination system to improve management functionality and enhance rate-quote comparisons. It also unveiled two new tools, Validate ROV and Validate Selector, that were added to its growing suite of property valuation solutions.