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5 April 2025 April 2025 » M T E C H FICO ANNOUNCES AVAILABILITY OF NEW LENDER TECHNOLOGY F ICO reports that lenders can now use the FICO Score Mortgage Simulator via Xactus. Mortgage professionals can use the simulator's data to inform better judgments that will pro- vide clients with additional loan options and competitive interest rates. The FICO Score Mortgage Simulator was developed by FICO's analytics scien- tists utilizing the FICO Score algorithm. The technology is currently available to lenders via the Xactus360 platform. "We are proud to be the pioneer- ing partner to bring the FICO Score Mortgage Simulator to the mortgage industry," said Shelley Leonard, President of Xactus. "The FICO Score-based tool is a significant achievement for its precision and reliability. Xactus expects to see rapid adoption of the new tool, and we believe it will provide significant value to mort- gage professionals, helping them to better serve their customers." By using simulated changes in an applicant's credit report data to mim- ic possible changes to the applicant's FICO Score, the FICO Score Mortgage Simulator allows mortgage experts to test credit event scenarios. The FICO Score is the score that mortgage experts utilize the most, and this special feature allows them to see possible effects of borrower behav- iors on the score. In the fiercely competi- tive mortgage market, more knowledge is crucial to presenting their clients with the best terms. "The FICO Score Mortgage Simulator is the only tool available to mortgage pro- fessionals that leverages the trusted FICO Score algorithm to provide unparalleled accuracy and insight while simulating potential impact consumers' actions can have on their FICO Scores," said Geoff Smith, VP and General Manager of Consumer Scores at FICO. "Ultimately, this tool will allow lenders to better serve their customers as they pursue the dream of homeownership." RISKEXEC TO INTEGRATE WITH ENCOMPASS BY ICE MORTGAGE U sing the most recent Encompass Partner Connect API archi- tecture from Intercontinental Exchange (ICE) for mortgage technology, RiskExec, Inc. (RiskExec) has announced the successful integration of their HMDA software module with Encompass by ICE Mortgage Technology. Through secure API-enabled technology, this contempo- rary architecture allows industry players to interact with ICE solutions and offer their services to loan originators and servicers. Geocoding, rate spread computa- tion, and edit checks are features that enable more successful and efficient loan closings. These features are integrated directly into Encompass' cloud-based platform for the duration of the loan cycle, assisting lenders in locating and ad- justing loan-level HMDA data well before final loan decisions are made. "We are excited to bring our en- hanced capabilities supporting ICE's commitment to driving efficiency in the industry and making the path to home- ownership as streamlined and accessible as possible," said Dr. Anurag Agarwal, President and Founder of RiskExec. Three essential features of RiskExec's SaaS compliance automation technolo- gy help banks, credit unions, mortgage businesses, and other lenders manage regulatory requirements more affordably: • Geocoding and Tract Data Integra- tion: Now, RiskExec geocodes the Encompass-stored property address and adds the relevant census tract information to the loan file in the Encompass system. This tool, which is seamlessly included into the lending process, guarantees accurate location data for reporting and regulatory needs. • Rate Spread Calculation: In order to reduce errors and save time for mortgage professionals, RiskExec uses the data recorded in Encom- pass to determine the rate spread for each loan and automatically updates the loan file with this information. • HMDA Edit Checks: Users may now do single-record edit checks on HMDA data from within Encompass thanks to RiskExec. With the help of the integration, users can quickly find and fix any data discrepancies before submission to guarantee com- pliance with HMDA requirements. The list of necessary edits is divided into three categories: regulatory edit checks, enhanced quality edit checks based on RiskExec's extensive HMDA expertise, and user-created custom edit checks. "This collaboration underscores our commitment to delivering affordable, innovative compliance solutions that streamline operations and help our clients maintain the highest standards of accuracy and regulatory compliance in mortgage lending," Agarwal said. CLOUDVIRGA FINALIZES NEW INTEGRATION WITH ICE MORTGAGE TECHNOLOGY C loudvirga revealed that it has integrated its Horizon Retail POS system with Intercontinen- tal Exchange's (ICE) most recent API architecture for mortgage technology,