Capital Mortgage Services selects MSP® loan servicing system from ICE

Rhea-AI Summary

Intercontinental Exchange, Inc. (ICE) announces that Capital Mortgage Services has chosen MSP to scale its operations and enhance customer experience by utilizing integrated solutions. The Lubbock-based mortgage bank aims to lower costs while delivering exceptional service across the 50 states and the Virgin Islands.

Insights

Financial Analyst

The selection of the MSP loan servicing system by Capital Mortgage Services indicates a strategic move towards operational efficiency and cost management. By integrating a comprehensive platform that covers all aspects of servicing, the company is poised to handle increased volume without a proportional increase in overheads. This is a positive signal for investors, as it suggests a focus on scalability and profitability. The integration with customer-centric solutions like Servicing Digital and ICE Customer ServiceSM is indicative of a commitment to customer satisfaction, which is vital in the competitive mortgage banking sector. Enhanced customer experience can lead to improved customer retention, which in turn, can have a positive impact on the company's revenue streams.

Technology Implementation Specialist

The adoption of advanced technological solutions such as the MSP loan servicing system, Servicing Digital and the Actionable Intelligence PlatformSM reflects Capital Mortgage Services' drive to modernize and streamline its operations. The emphasis on automation and predictive analytics for customer service calls, for example, can significantly reduce resolution times and improve the efficiency of support staff. This not only reduces operational costs but also enhances the overall customer experience. The use of Lien AlertSM for early notifications of critical property-related events is a proactive measure to manage risk and capitalize on potential opportunities. Such technological advancements can be a differentiator in the mortgage industry, giving the company an edge over competitors who may be slower to adopt similar innovations.

Risk Management Analyst

From a risk management perspective, the integration of comprehensive data analytics tools like McDash® can provide Capital Mortgage Services with valuable insights into mortgage performance trends. This data can be instrumental in making informed strategic decisions and identifying potential risks early on. Access to extensive loan-level data repositories enhances the ability to proactively monitor loan performance and manage portfolio risk. The ability to predict and pre-empt customer queries and issues through the ICE Customer ServiceSM solution may also contribute to a reduction in operational risk by ensuring more consistent and reliable customer service.

Capital Mortgage Services has chosen MSP to help scale its servicing operations

The mortgage banking firm will also use MSP’s integrated solutions to support an exceptional customer experience

ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, announced that Capital Mortgage Services, a Lubbock-based mortgage bank with clients across the 50 states and the Virgin Islands, has selected the MSP^® loan servicing system and a suite of integrated solutions to help scale its operations, lower costs and to continue to deliver a stand-out customer experience. MSP is a comprehensive, end-to-end platform that supports all aspects of servicing – from loan boarding to default – for first mortgages, as well as home equity loans and lines of credit, on a single system.

“While our servicing operation has expanded, we knew we needed a top-of-the-line system that would scale with our business growth without compromising the exceptional experience our customers have come to expect,” said Danny Lewis, CEO of Capital Mortgage Services. “MSP and its integrated suite of customer-facing solutions will help us continue to deliver quality service to our valued homeowners, and will help us achieve our business goals efficiently, and at lower cost.”

In addition to the MSP loan servicing system, Capital Mortgage Services has selected a suite of automated, integrated solutions that improve the user experience for back-office employees and customers alike. The full-service mortgage bank will use Servicing Digital, ICE’s web- and mobile app-based customer-centric solution, designed to help servicers improve retention and more easily engage with their customers on a continual basis. Integrated with MSP, Servicing Digital helps customers easily see their loan information, make payments, understand and grow their home equity, and more.

Capital Mortgage Services will also use the ICE Customer Service^SM solution to drive more one-call resolutions when a consumer calls a support representative. Customer Service uses call prediction to preemptively determine the most likely reason for a support call, and guides support agents to the screens they need within the MSP® loan servicing system to help resolve the issue. It also predicts related questions a customer may have on their loan and presents them to the agent, to help resolve more customer support issues in a single call.

The mortgage banking firm will also receive early notifications of critical property-related events with Lien Alert^SM, an efficient, cost-effective portfolio monitoring solution that helps servicers respond quickly to competitive pressures, take advantage of lead opportunities and proactively manage risk. And using McDash^®, Capital Mortgage Services will gain access to an unparalleled view of mortgage performance across the U.S. with the deepest and broadest loan-level data repository in the industry. Plus, the mortgage banking firm will also leverage the Actionable Intelligence Platform^SM, which will help them proactively monitor and manage operations using key performance metrics, and deliver business analytics to support strategic decision-making.

“ICE is making servicing simple by digitizing and automating processes to reduce friction and introduce new efficiencies,” said Tim Bowler, President of ICE Mortgage Technology. “MSP’s proven technology will help Capital Mortgage Services streamline their workflows, mitigate risk, and support their mission of delivering an exceptional experience for their employees and customers. Automating traditionally cumbersome mortgage processes is critical to ICE’s mission of transforming the mortgage industry, and ultimately creating a better, more cohesive experience for homeowners.”

About Capital Mortgage Services

Capital Mortgage Services grew from humble beginnings into a complete mortgage operation consisting of a billion-dollar servicing portfolio, with clients across the 50 states and the Virgin Islands. Capital Mortgage Services maintains its position on the cutting edge of mortgage banking concepts and technology, and brings a new era of mortgage banking to clients and patrons of the firm while maintaining a “hometown feel.”

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

Source: Intercontinental Exchange

View source version on businesswire.com: https://www.businesswire.com/news/home/20240404506931/en/

ICE Media Contact:

Mitch Cohen

mitch.cohen@bkfs.com

+1 704-890-8158

ICE Investor Contact:

Katia Gonzalez

katia.gonzalez@ice.com

+1 (678) 981-3882

Source: Intercontinental Exchange

FAQ

What technology provider did Capital Mortgage Services choose to help scale its operations?

Capital Mortgage Services selected MSP, provided by Intercontinental Exchange, Inc. (ICE), to help scale its servicing operations.

What are the main goals of Capital Mortgage Services in choosing MSP and its integrated solutions?

Capital Mortgage Services aims to scale its operations, lower costs, and maintain a stand-out customer experience by utilizing MSP and its integrated suite of solutions.

How will Servicing Digital by ICE benefit Capital Mortgage Services?

Servicing Digital, ICE's customer-centric solution, will help Capital Mortgage Services improve customer engagement, retention, and overall user experience through web and mobile app-based services.

What is the purpose of ICE's Customer Service solution for Capital Mortgage Services?

ICE's Customer Service solution aims to drive one-call resolutions by predicting customer support needs and guiding support agents to resolve issues efficiently within the MSP loan servicing system.

How will Lien Alert benefit Capital Mortgage Services?

Lien Alert is an efficient portfolio monitoring solution by ICE that provides early notifications of critical property-related events, helping Capital Mortgage Services respond quickly to competitive pressures and manage risk proactively.