Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
Florida, US-based Raymond James Bank (RJF) has partnered with cloud-based lending platform ICE Mortgage Technology to leverage the firm’s Encompass digital software to power its mortgage lending operations for high-net-worth borrowers.
RJF to use ICE Mortgage Technology’s Encompass software
ICE Mortgage Technology, part of the regulated exchanges corporation Intercontinental Exchange (ICE), states it provides technology solutions for the “entire mortgage process”, automating all the steps between customer engagement and loan registration.
RJF, an affiliate of NYSE-listed wealth management firm Raymond James Financial, will utilise ICE’s Encompass solution to support the origination of mortgages for its affluent borrowers through both retail and delegated correspondent lending avenues.
The investment bank already employs other ICE solutions including its Mortgage Electronic Registration System (MERS) and ICE Data Services, which ICE says made the “interconnectivity of Encompass a natural fit”.
Tim Bowler, president of ICE Mortgage Technology, insists that “home finance remains a needlessly fragmented process”, claiming the firm’s investment in data and technology has enabled it to “accelerate elements of the process”.
Bowler adds that the agreement with RJF shows the company’s mortgage technology ecosystem is “resonating in the marketplace”.
