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ICE Mortgage Technology on Monday announced several enhancements to the Encompass loan origination platform, including a rate lock comparison tool that enables lenders to automatically detect and adjust for changes to a loan that may affect pricing and eligibility.
The “Rate Lock Comparison Tool,” which is integrated with Encompass’s product and pricing engine (PPE), enables lenders to save time and effort by avoiding having to manually re-evaluate eligibility and reprice loans, ICE said. Loan data can instantly be compared against predefined locked criteria to create workflow automation rules so that when material data changes occur, lenders are notified and can reprice and relock loans directly within Encompass.
ICE said that the automation gives loan officers up-to-date information and gives secondary desks risk management controls.
“By streamlining the repricing and locking workflow, the tool not only minimizes errors and delays, but also enhances operational efficiency, ultimately driving faster loan processing, higher ROI, and a vastly improved customer experience,” the company said in a statement.
The product update comes as ICE fully transitions Encompass away from legacy software development kit (SDK) technology to an API-based development platform. After industry vendors and lenders expressed concern about meeting the Oct. 31, 2025, timeline for migration, ICE granted a six-month extension before they will charge clients who want to continue using SDK code.
