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Investments / The Ticker

MERS and ICE in talks to merge

Steps into $9.4 trillion mortgage market

white house and dollar

Intercontinental Exchange (ICE), which is best known for energy trading, could possibly be stepping into the mortgage market. The company is in current negotiations to form a partnership with Mortgage Electronic Registration Systems, which documents the ownership and resale of about half of U.S. home loans. Per Bloomberg:  

The Atlanta-based exchange owner has been gauging demand for derivatives that enable investors to bet on defaults by U.S. homeowners,Bloomberg News reported in May. ICE, which earns most of its revenue by owning one of the world’s largest derivatives markets, has recently exnded into new businesses such as equity trading with its 2013 purchase of NYSE Euronext and the administration of interest-rate benchmarks.

MERS keeps filling headlines as it sifts through a pile of lawsuits of foreclosures stemming back to the crisis. 
Source: Bloomberg
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