Credit Union Adopts EPPS to Future-Proof Mortgage Lending Demands

ICE Mortgage Technology^TM, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that First Tech Federal Credit Union, one of the nation’s premier credit unions, has chosen ICE Mortgage Technology’s Encompass® Product and Pricing Service (EPPS) to enhance automation, compliance, and scalability and meet the demands of its more than 720,000 credit union members.

“ICE Mortgage Technology’s Encompass Product and Pricing Service allows First Tech Federal Credit Union to leverage pricing and eligibility capabilities in a native environment within Encompass,” said Joe Tyrrell, President of ICE Mortgage Technology. “This means that not only can they streamline their processes, access updated features and customize areas that are vital to their individual success, but they can do all of that in a single system with data accuracy and consistency.”

EPPS, a robust product pricing engine integrated into the ICE Mortgage Technology Platform, allows users to accurately select and price eligible loan products, automatically monitor for loan changes, and ensure reliable data exchange throughout the lifecycle of the loan, which decreases risk during the lending process.

“Relentless operational efficiency is the vision for First Tech’s Residential Mortgage Lending Division,” said Bruce Dickinson, Senior Vice President, Residential Mortgage Lending of First Tech Federal Credit Union. “The market and our membership will continue to demand an elegant front-end vehicle to apply for a mortgage, achieve transparency and accuracy in the process, and finalize real estate transactions faster. The Encompass Product and Pricing Service helps First Tech Federal Credit Union to be better positioned for those challenges and demands for future success.”

In addition to EPPS already being integrated into Encompass and the value of a decreased risk of integration data issues, other key differentiators for First Tech selecting ICE Mortgage Technology Encompass Product and Pricing Service include that it fully supports home equity line of credit (HELOC) products, allows for customizable configurations managed by the First Tech Encompass Admin Team, and is customizable to First Tech policies with business rules and loan templates.

For more information regarding the Encompass Product and Pricing Service, visit www.icemortgagetechnology.com/epps.

ICE Mortgage Technology combines technology, data and expertise to help automate the 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 high levels of compliance, quality and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.

About First Tech Federal Credit Union

First Tech Federal Credit Union is a $14+ billion institution headquartered in San Jose, California. It is the nation’s premier credit union serving the world’s leading technology-oriented companies and their employees, including HP Inc., Hewlett Packard Enterprise, Microsoft, Agilent, Intel, Cisco, Amazon, Nike, Intuit, Google, and more. First Tech is recognized as the industry catalyst for delivering effortless banking experiences to more than 720,000 members through its 32 branch locations, more than 5,600 CO-OP Shared Branch locations, 30,000 CO-OP Network ATMs, and online platforms. First Tech offers a full range of financial services, including traditional banking, online banking, mortgages, financial planning, various consumer loans, and insurance services. Federally insured by NCUA. Equal Housing Lender. For more information, visit www.firsttechfed.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.

© 2021 ICE Mortgage Technology, Inc. All rights reserved. Encompass® and the ICE Mortgage Technology logo are trademarks of the entities of ICE Mortgage Technology, Inc.

Source: Intercontinental Exchange

ICE-CORP

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