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April 2021 Origination Insight Report from ICE Mortgage Technology Shows Fourth Consecutive Month Faster Time to Close

PLEASANTON, California – () –ICE mortgage technologyTM, Part of Intercontinental Exchange, Inc. (NYSE: ICE), a global leader in data, technology and market infrastructure, today has its Origination Insight Report (OIR) for April 2021. In this month’s report, data shows that the average time to close all loans has fallen to 51 days for the fourth year in a row.

“The reduction in average time to close isn’t surprising given the increases we’ve seen in adopting digital transformation tools like AIQ, our artificial intelligence offering that automates workflows to move to a more data-driven process, and customer loyalty suite to automate communications with everyone involved in the transaction, ”said Joe Tyrrell, president of ICE Mortgage Technology. “This trend is also in line with our findings Survey of borrowers and lenders in 2020in which both borrowers and lenders found that digital mortgage technologies make closing a mortgage loan faster and easier, improving the overall experience for participants. ”

That month’s OIR also showed that April was the second straight month in which the share of refinancing in total origins slowed. The refinancing percentage decreased from 63% in March to 56% of all closed loans in April. However, the percentage of purchases rose from 36% in March to 43% of total closed loans in April, reflecting the highest percentage since August 2020.

Data in the Origination Insight Report is derived from a solid sample of approximately 80% of all mortgage applications received on Include® Loan platform. The Origination Insight Report acts as a proxy for the underwriting standards used by lenders across the country.

MONTHLY ORIGIN REVIEW FOR APRIL 2021

April 2021 *

March

2021 *

6 months ago

(October 2020 *)

1 year ago

(April 2020 *)

Closed Loans

purpose

Refinancing

56%

63%

60%

65%

purchase

43%

36%

40%

35%

Art

FHA

10%

9%

10%

10%

Conventional

81%

83%

82%

81%

become

6%

3%

5%

6%

Days to graduation

All

51

52

54

42

Refinancing

53

52

57

39

purchase

49

51

48

46

Percentage of ARM and Fixed Loan Amount

POOR%

3.1%

2.4%

2.4%

3.8%

30-year rate

Average

3.22%

2.99%

2.99%

3.48%

* All references to months should be read at the end of the month.

CLOSED LOAN PROFILES FOR APRIL 2021

Closed real estate liens (all types)

FICO Score (FICO)

747

Loan-to-Value (LTV)

72

Debt-to-Income (DTI)

23/35

For more information and analysis of closed and denied loans by loan purpose and investor, see the full report at https://www.icemortgagetechnology.com/mortgage-data/origination-insight-reports

To get a meaningful look at lender swiping, ICE Mortgage Technology reviewed a sample of loan applications initiated 90 days earlier – or the January 2021 applications – to calculate an overall close rate of 78.0% in April 2021 ( see full report).

In addition to Origination Insight ReportICE Mortgage Technology also distributes data from its monthly Millennial tracker on the first Wednesday of each month. The Millennial Tracker focuses on mortgage applications from borrowers born between 1980 and 1999.

About the Origination Insight Report from ICE Mortgage Technology

The Origination Insight Report focuses on loans closed in a given month and compares their characteristics with similar loans. The completion installment is not calculated monthly, but in a 90-day cycle, as most loan applications usually take one and a half to two months from application to completion. Loans that are not closed may still be active applications or applications that are withdrawn by consumers or rejected for incompleteness or non-qualification.

The Origination Insight Report Details of aggregated, unidentified data retrieved from the Encompass originating platform.

News organizations have the right to reuse this data provided ICE Mortgage Technology is acknowledged as the source.

ICE Mortgage Technology combines technology, data and expertise to automate the mortgage process, from customer engagement to loan registration, to every step and task in between. ICE Mortgage Technology is the leading cloud-based provider of lending to the mortgage industry, offering solutions that enable lenders to borrow more, reduce borrowing costs and time to close while maintaining high levels of compliance, quality and Efficiency is guaranteed. visit icemortgagetechnology.com or call (877) 355-4362 to learn more.

Via Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people with opportunity. We offer financial technology and data services for all major asset classes, giving our customers access to business-critical workflow tools that increase transparency and operational efficiency. We operate exchange, including the New York Stock Exchange, and Clearing houses This helps people invest, raise capital, and manage risk across multiple asset classes. Our comprehensive fixed income securities Data services The execution functions provide information, analysis and platforms that our customers can use to seize opportunities and work more efficiently. At the ICE mortgage technologyWe’re transforming and digitizing the U.S. residential mortgage process, from consumer engagement to loan registration. Together we transform, streamline and automate industries to connect our customers with opportunities.

The brands of ICE and / or its affiliates include Intercontinental Exchange, ICE, ICE Block Design, NYSE, and New York Stock Exchange. Information on additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and / or its affiliates can be found Here. Important information documents for certain products covered by the EU Regulation on Packaged Retail and Insurance Investment Products can be found on the relevant exchange website under the heading “Important Information Documents (CHILDREN)”.

Safe Harbor 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 that could cause actual results to differ from those contained in the forward-looking statements, see the 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 fiscal year ended December 31, 2020, 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 ICE Mortgage Technology, Inc.

Source: Intercontinental Exchange