United Wholesale Mortgage (UWM) signed a long-term agreement with Intercontinental Exchange (ICE) to license ICE Mortgage Technology’s MSP loan servicing system, allowing UWM to bring its mortgage servicing operations in-house.

The announcement follows UWM severing its sub-servicing relationship with Mr. Cooper Group in early April, after Mr. Cooper was acquired by Rocket Companies. 

UWM said shifting to in-house servicing will increase recapture and referral business for its mortgage broker network. 

“We are excited to partner with ICE Mortgage Technology to bring our servicing portfolio in-house. This is a huge win for UWM and, more importantly, the broker community,” UWM Chairman, President and CEO Mat Ishbia said in a release. “This will mean a better experience for borrowers and a stronger, stickier relationship with their brokers, which we believe could result in more repeat business and referrals — the foundation for long-term growth and success. While we are excited about the cost savings for UWM, we’re even more excited about the opportunity to help brokers deepen their relationships with borrowers by leveraging MSP.”

As part of the partnership, UWM will deploy the homeowner portal ICE Servicing Digital and ICE Loss Mitigation, which integrates with Servicing Digital to help homeowners facing hardship connect with assistance. UWM will also use ICE Customer Service, ICE Automated Lien Release to and ICE’s Servicing APIs.

“We are honored that UWM has entrusted us to supply the technology underpinning its new servicing strategy,” ICE President Ben Jackson said. “By leveraging our platform and many of our complementary solutions, UWM will gain access to a powerful, scalable system for delivering a consistent, world-class servicing experience that drives repeat and referral business and supports homeownership in communities nationwide.”