Coviance™ integrates with Encompass® by ICE Mortgage Technology®

BusinessWireMarch 18, 20245 min

Coviance, a lending experience platform transforming lending automation and elevating borrower experiences by accelerating lending cycle, and simplifying ops and compliance management, announced that its platform is now integrated with Encompass® by ICE Mortgage Technology®, part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity.

Coviance has combined the power of its lending automation platform, Home Equity Express™ (HEx), with a pre-built, no-code LOS integration to create the Coviance Encompass Connector – a true plug-and-play automation experience for home equity and HELOC loans. Coviance is integrated in both Encompass SmartClient and WebApp versions.

Coviance’s HEx automates the home equity loan process through adaptive workflows with data-driven decisioning intelligence giving borrowers and lenders speed and efficiency. The cloud-based platform uses real-time data, best-in-class pre-built integrations, and intelligent communication capabilities that deliver a fluid, elevated experience for lenders and borrowers. The “Coviance Encompass Connector” integrates both technologies empowering Encompass LOS users to modernize the home equity and HELOC lending experience, shortening the lending cycle from weeks, to delivering a clear-to-close in days, even hours.

“ICE’s mission of expanding homeownership in the US by connecting all things mortgage with best-of-breed technology aligns with our mission at Coviance ,” said Omar Jordan, Founder and CEO of Coviance. “Expanding onto our relationship with ICE from our integration into Simplifile, and now Encompass continues to drive value for our shared customers, banks and credit unions. At Coviance we’re on a mission to expand access to lendable home equity through automation and technology.”

The Coviance Encompass Connector enables lenders to automate the HEloan and HELOC lending process by leveraging the automation and collateral decisioning engine Coviance offers. The product’s standout features will help further expand Home Equity lending capabilities into the mortgage LOS.

  • Intelligent Automation Fuels Efficiency: Unlock no-code adaptive workflows and intelligent collateral decisioning capabilities.
  • Simplified Lending Experience that keeps Borrowers informed: Scalable and transparent borrower experience with real-time, adaptive borrower communication.
  • Centralized Compliance Streamlines Change Management: Access to loan-level audit trails with detailed workflow and collateral decisioning documentation.

“The American Dream of homeownership is the path to financial freedom and generational wealth, which is at the core of the credit union mission. Having the right technology partners to make this often overwhelming process more streamlined is tremendously impactful in how we serve our membership,” said Jenny Vipperman, President & CEO at ORNL Federal Credit Union and Coviance Board Member. “As a Coviance board member, I am excited about the integration between Coviance and ICE Mortgage Technology, which will enable more credit unions and community banks to access this powerful technology.”

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