ICE offers industry-leading mortgage servicing solutions that support the servicing life cycle from loan boarding to default. Anchored by the best-in-class MSP® loan servicing system, these innovative capabilities support servicers as they tackle the most pressing business challenges.
MSP automates all areas of loan servicing. This increases operational efficiencies and reduces the cost of supporting separate systems. MSP’s broad-based functionality supports a wide range of loan products. Some include home equity loans and lines of credit, customer service, collections, default and loss mitigation.
As an example, ICE Loss Mitigation supports industry-standard retention and liquidation workouts, as well as proprietary forbearance and modification programs, and is tightly integrated with MSP. Loss Mitigation leverages advanced business rules and an intuitive user interface to guide agents throughout the process, and helps your servicing operations streamline workflows, simplify decisioning and reduce risk. ICE also added functionality to Loss Mitigation that allows business users to extend and adjust forbearances in bulk.
ICE Servicing Digital is another powerful tool that helps servicers deliver superior support and give their customers greater agency over their homeownership journey. Servicing Digital provides consumers with self-service capabilities, including the ability to proactively initiate loss mitigation requests, or to request extensions to their existing forbearance plans directly within Servicing Digital, which servicers can review in MSP.
Servicing Digital also provides information that can help customers make decisions around their home’s equity. Strong home equity cushions can open additional avenues for servicers to explore with homeowners who are in loss mitigation, such as salvaging earned equity with a traditional home sale rather than going through foreclosure. Those same equity cushions can also provide homeowners an incentive to work with their servicers to return to making regular mortgage payments.
When customers do reach out to their servicer with questions, ICE Customer Service helps create meaningful conversations that can lead to positive outcomes. Customer Service is fully integrated with MSP and assists customer support agents in providing proactive, personalized borrower support, faster responses and increased transparency. The solution also offers call prediction models that can help agents understand why a customer may be calling and guide the conversation accordingly.
“Default and loss mitigation workouts are complicated, to say nothing of the tension and stress for homeowners trying to make ends meet,” said Sandra Madigan, Executive Vice President of Servicing Technology Product Innovation. “At ICE, we work every day to build solutions to help servicers streamline these technically challenging, time-sensitive processes and provide them with the tools to help homeowners at a time when they need help the most.”
ICE continues to innovate and invest in its products, regularly introducing and enhancing solutions that help servicers successfully navigate the challenges of changing market conditions. With the right technology, servicers can address critical customer needs to improve profitability and increase retention.