Through Halcyon integration, LOs using Encompass can now offer clients investment advisory advice [Updated]

Loan officers can introduce their clients to an RIA within Encompass through an agreement with Halcyon

Loan officers using ICE Mortgage Technology‘s Encompass platform can now offer their mortgage customers investment advisory advice through an integration with Halcyon, a tech firm specializing in advanced data integration.

“In the current market where the refi boom has dried up and interest rates are sky high, most home purchases are being driven by life events that come with other financial considerations. Halcyon is helping diversify revenue and strengthen borrower-lender relationships with their new registered investment advisor (RIA) Offering,” Halcyon said in a news release.

Through the deal with Halcyon via Encompass Partner Connect, loan officers can introduce their clients to an RIA entirely within Encompass. 

Borrowers will receive financial advice including – college savings plans if their household is expanding, additional life insurance and 401k at no cost. Halcyon’s proprietary technology will be responsible for the tracking and compliance for the lender.

Halcyon is the first to provide the service through Encompass and lenders will immediately see the value, said Kirk Donaldson, CEO of Halcyon. 

“The lender has comfort that the borrower is making sound decisions that can help protect future default and it provides a way to diversify income,” Halcyon noted.

The integration comes amid strong sales in Encompass in Q3 2023.

In its latest quarterly earnings, ICE Mortgage Technology reported an adjusted operating income of $131 million despite the headwinds in the mortgage industry.

In Q3, about 60% of existing Encompass customers that were due for a renewal increased their base subscriptions. 

Following ICE’s acquisition of Black Knight in September, ICE had been focusing on cross-selling opportunities across the platform and ICE’s expanded customer base.

ICE identified north of $300 million worth of opportunities for the company to go after which includes cross-selling data and document automation platform to the entire Black Knight’s mortgage servicing system.

Executives expect net revenue synergies of up to $125 million by 2028 largely through cross-sell opportunities.

Clarification: This story was updated on Tuesday, Jan. 9 at 11:56 a.m. est to clarify that ICE itself is not offering investment advice; it is available to Encompass loan officer clients through an integration with Halcyon.

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