ICE Mortgage Technology, part of Intercontinental Exchange, Inc. (NYSE: ICE), announced it will deploy an eVault solution based upon technology acquired from DocMagic, Inc.

The eVault technology, which is for secure storage of digital mortgages and notes, will be integrated into ICE’s mortgage closing platform, Encompass eClose, a technology that enables lenders to electronically facilitate every aspect of the eClosing workflow, without having to leave the Encompass mortgage management system.

“By creating an end-to-end solution and further automating the mortgage closing process, we’re helping the industry transition to paperless closings and enabling more efficient processes for our customers,” said Joe Tyrrell, President, ICE Mortgage Technology. “We acquired technology from DocMagic, who has deep experience in the mortgage space, and when this technology is integrated with our other services, Encompass eClose will enable customers to eliminate time and cost in the closing process and create better experiences for borrowers.”

“ICE Mortgage Technology and DocMagic have been helping lenders implement digital mortgage processes for years,” said Dominic Iannitti, president and CEO of DocMagic. “The migration towards digital mortgages is progressing quickly, and we’re happy to have provided ICE with capabilities to enable fully-paperless lending workflows along with better supply chain connectivity.”

ICE Mortgage Technology combines technology, data and expertise to automate the entire mortgage process from consumer engagement through loan registration. Today, more than 3,000 mortgage lenders, 45,000 agents, as well as technology partners and mortgage investors can use the powerful capabilities of ICE Mortgage Technologies solutions to drive efficiencies and profitability for their businesses.

NEXT Mortgage News logo

Stay in the know

Get the daily intel that impacts your customers, employees and market. 

Up NEXT eNewsletter — Industry news

Thank you!

Share This