Agentic AI mortgage startup tidalwave today announced a new integration using the latest Encompass Partner Connect API framework from Intercontinental Exchange (ICE) for mortgage technology and available via the marketplace in the ICE Encompass® digital lending platform. By integrating with Encompass®, tidalwave's AI capabilities are now accessible to a majority of mortgage lenders. tidalwave's AI-driven approach addresses critical challenges in the mortgage industry.
NEW YORK, March 4, 2025 /PRNewswire-PRWeb/ -- Agentic AI mortgage startup tidalwave today announced a new integration using the latest Encompass Partner Connect API framework from Intercontinental Exchange (ICE) for mortgage technology and available via the marketplace in the ICE Encompass® digital lending platform. This modern framework enables industry participants to integrate to ICE solutions and provide their services to loan originators and servicers through secure API-enabled technology.
By integrating with Encompass®, tidalwave's AI capabilities are now accessible to a majority of mortgage lenders. tidalwave's AI-driven approach addresses critical challenges in the mortgage industry. Despite advances in digitization, the mortgage process remains inefficient: the average mortgage file is 500 pages long and takes ~45 days to process. The average lender is losing $645 per loan as they are using multiple disjointed tools, requiring human intervention to bridge gaps, leading to errors and delays.
The integration of tidalwave's AI-powered SOLO™ platform with Encompass® by ICE Mortgage Technology offers lenders a suite of cutting-edge capabilities:
- Automation of Manual Tasks: tidalwave's SOLO™ automates underwriting tasks that typically require extensive human involvement, significantly reducing processing times and costs.
- Cost Reduction: According to Freddie Mac, lenders utilizing digital tools originate loans that are $1,500, or 14%, less costly, and generally operate with a profit.
- Streamlined Workflows: tidalwave's SOLO™ minimizes human involvement in mundane tasks, allowing loan officers, processors, and underwriters to focus on high-value activities.
- Increased Capacity: By automating manual and timely components of the mortgage file, tidalwave's SOLO™ boosts loan officers' capacity to handle more files daily
"Through tidalwave's integration with Encompass, we're giving lenders the AI-powered tools they need to work smarter, not harder," said Diane Yu, CEO and co-founder of tidalwave. "This integration empowers lenders to modernize their processes without the need for disruptive system overhauls, ultimately leading to improved efficiency, reduced costs, and a superior borrower experience."
"We partnered with tidalwave early on, seeing SOLO™ 's promise before its broader market awareness," said Corban Wells, VP of Technology Product Management at Primary Residential Mortgage, Inc. "It's incredibly gratifying to witness its impact as we collaborate. We're excited to make this new solution available across our network, so SOLO™ can enhance the mortgage process for our staff and clients alike."
"Making AI accessible to more lenders is a game changer—we're going to see mortgages become faster and more affordable," said Paige Hagerhorst, Senior Vice President – Operations & Information Technology at GNB Mortgage. "Going live with TidalWave’s SOLO™ allows us to streamline the workflow and reduce overhead, giving us a real competitive edge while lowering the cost of originating loans."
Encompass Partner Connect enables the integration of key third-party products and services with ICE mortgage technology solutions. ICE does not own, control, nor endorse any specific industry participant or the product/service provided. Loan originators and servicers are responsible for vetting, selecting, and contracting with the providers of their choosing.
For more information visit: tidalwave on the ICE Marketplace.
About tidalwave: Agentic AI mortgage startup tidalwave is simplifying the home loan process with its AI-powered tool SOLO™. The company was co-founded by Diane Yu, former CTO of digital mortgage startup Better.com and co-founder of FreeWheel, which was acquired by Comcast (NASDAQ: CMCSA). tidalwave's SOLO™integrates with Freddie Mac's Loan Product Advisor® (LPA℠) and Fannie Mae's Desktop Underwriter® (DU®) to provide real-time, personalized experiences for borrowers while acting as a co-pilot for loan officers and processors. For more information, please visit https://www.tidalwave.ai/.
Media Contact
Tanya Hayre Gillogley, tidalwave, 1 833 378-4108, [email protected], https://www.tidalwave.ai/
SOURCE tidalwave
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