ICE’s Joe Tyrrell on the state of the mortgage industry
Today’s HousingWire Daily interview features an interview with Joe Tyrrell, the president of ICE Mortgage Technology at Intercontinental Exchange. In this episode, Tyrrell discusses the current state of the mortgage industry and the recent coming together of Ellie Mae, Simplifile, and MERS to form ICE Mortgage Technology.
Here is a small preview of the interview, which has been lightly edited for length and clarity:
Alcynna Lloyd: In September, ICE acquired Ellie Mae and now also owns MERS and Simplifile. How was that transition and what is the vision for ICE Mortgage Technology, have you already seen any advantages in progress by coming together?
Joe Tyrrell: For us, whenever you go through transitions as we have, I think the thing you worry about the most is just maintaining your culture. And that’s always been really important to us. You know, it’s a hallmark of who we’ve been as we have fantastic relationships with our customers and with our partners. In the last few years, we’ve actually had the added pressure of going through multiple transitions in a relatively short period of time. This began when Ellie Mae went from being a public company to a private company and then now, being a part of a public company again. Additionally, MERS and Simplifile went through the transition of combining with Ellie Mae to create this ICE Mortgage Technology. So, there’s been a lot of change in a relatively short period of time. That being said, I can tell you, it’s been fantastic for us to come together. Now that we’re part of ICE, in many ways, it’s really just like coming home again. Right now, we’re back to having a visionary entrepreneur as a CEO with Jeffrey Sprecher, who is constantly pushing us to continue to think outside the box and focus first and foremost on the client’s needs. In addition to that, at ICE, we have this incredible president in Ben Jackson, and what he does is ensure that Ice Mortgage Technology has full support and access, with resources at our disposal. His focus is on making sure we have no limits on what we can imagine and what we can deliver for our customers. Notably, the thing that really was the best for us is when we were acquired by ICE as they really allowed us to focus on bringing Ellie Mae, Simplifile, and MERS together as one organization. The intent there was to bring out the best of each of these market-leading organizations to deliver additional value to the industry, but also to do it in a differentiated way.
HousingWire Daily examines the most compelling articles reported from across HW Media newsrooms. Each afternoon, we provide our listeners with a deeper look into the stories coming across our news desk that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.