Tracking changes to AI fintech vendors

The Encompass 26.2 October Service Pack adds support for multiple credit score models across Encompass desktop and web, Consumer Connect, TPO Connect and ICE PPE. Lenders can process credit reports carrying both FICO Classic and VantageScore 4.0, price both at once, and have credit scores and credit disclosure data update to match the model chosen in the rate lock. FICO 10T can be switched on once it is approved.

Our read

Fannie Mae and Freddie Mac have accepted VantageScore 4.0 on conventional loans since 9 September, and Encompass lenders can now pick the score model loan by loan with a record of which one drove pricing and the borrower disclosure. Using it takes configuration and business rule changes, which ICE documents in a separate guide.

ICE Mortgage Technology's Simplifile release notes for 8 September, published 10 September as an early access version, record that two factor authentication is now required for all eligible organizations using eSign Events. Organization administrators can adjust how often a second factor is required and choose which verification methods are available, from authenticator app, email and mobile phone, with at least two enabled where the authenticator app is one of them. Organizations using single sign on are not affected.

Our read

Mandatory rather than optional is the detail that matters, because an eSigning platform in mortgage handles the documents a fraudster most wants to intercept, and optional controls are the ones nobody switches on. Settlement agents and lenders on Simplifile should expect the prompt and set the frequency and method policy before their users hit it; firms already on single sign on see no change.

ICE Mortgage Technology made Fannie Mae's Income Calculator generally available inside Encompass and the ICE Income Analyzer for clients subscribing to ICE Mortgage Analyzers, so self-employed income can be calculated from extracted tax return data without leaving the loan origination system. It sits alongside last year's Freddie Mac AIM integration on the same screen.

Our read

Income calculation is where underwriting rework concentrates, and every portal switch is a chance to transcribe a figure wrong. Running the GSE's own calculator in place, with side by side representation and warranty relief comparison across both agencies, moves the buyback question from the lender's spreadsheet to the agency's logic.