Truework brings additional automation to ICE Mortgage Technology platform to streamline mortgage underwriting for lenders

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Mar 01, 2023, 08:00 ET

SAN FRANCISCO, March 1, 2023 /PRNewswire/ -- Truework, a fintech company providing income and employment verification for the nation's largest mortgage lenders, announced today that their integration is now built on the latest Encompass Partner Connect™ API Platform and available through ICE Mortgage Technology®, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, to help reduce costs and increase underwriting efficiency for mortgage lenders.

Truework is the latest ICE Mortgage Technology partner to add Automated Service Ordering through the Encompass platform.

This new integration enables lenders to automatically search Truework's instant data network of over 35 million employee records, without the click of a button. This advancement in automation eliminates the tedious data submissions traditionally required to process verifications of income and employment, saving underwriting teams time and eliminating the risk of human-error.

"ICE Mortgage Technology is a leader in the mortgage origination space and we're excited to launch an integration that will immediately benefit thousands of lenders across the country", said Ryan Sandler, CEO of Truework. "Alongside ICE, our team has shown a dedication to pushing the technological boundaries in order to help lenders save time and convert more applicants into borrowers."

"Once the verification is initiated through the Encompass platform, we don't have to think about it again", added Jeremy Longman, loan processing manager at Ideal Lending Solutions. "That's a huge improvement."

For more information visit: Truework in the Marketplace by ICE Mortgage Technology.

About ICE Mortgage Technology

ICE Mortgage Technology combines technology, data and expertise to automate the entire mortgage process from consumer engagement through loan registration and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.

About Truework

Truework is redesigning the credit system with consumers at the core. On a mission to empower individuals to own and control their personal data, Truework provides an API-enabled platform for income and employment verification that is more efficient, accurate and secure. Using Truework as a Consumer Reporting Agency operating in compliance with FCRA, banks, lenders and background check providers can verify any U.S. employee. Through partnerships with payroll providers such as Gusto, Zenefits, and BambooHR, Truework has the second-largest instant verification network with over 35 million employees. To learn more, visit www.truework.com.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate 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, 2020, as filed with the SEC on February 4, 2021.

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SOURCE Truework