Profits came off of $531 million in second-quarter revenue, representing an increase of 4.1% from the prior reporting period's $510 million. Year over year, revenue grew 4.9% from $506 million. 

ICE's MSP servicing software operations accounted for $220 million of the total with business in its Encompass loan-origination system business garnering $187 million. Data and analytics raked in $66 million, while ICE's closing solutions earned $58 million.   

"The year-over-year improvement was largely driven by data and analytics and our servicing business," said Warren Gardiner, chief financial officer at Intercontinental Exchange, during the call. 

On the servicing side, the company is still riding a wave of momentum after striking a deal with United Wholesale Mortgage to bring the lender onto its MSP platform in April. UWM's decision to bring servicing in-house with ICE as a partner came after the acquisition of Mr. Cooper by longtime rival Rocket Cos. The merger between Rocket and Mr. Cooper will lead to some attrition in the latter half of the year, but leaders said they anticipated current revenues to remain near second-quarter levels.

"We're seeing clients on the MSP side continuing to look for an independent, well-capitalized neutral technology provider that doesn't potentially compete with them," said company President Ben Jackson.

Since the completion of its merger with Black Knight, ICE executives have regularly celebrated the number of new customers it has managed to entice to its Encompass loan-origination system during earnings calls. Many of those clients now make use of the company's technology for both originations and servicing.  

ICE signed on 23 new Encompass customers in the second quarter, including a large regional bank, it said. 

The mortgage unit's positive results helped lift overall net income at Intercontinental Exchange to $851 million for the quarter, or $1.48 per diluted share. Profits increased from the first quarter's $797 million and $632 million over the same three months in 2024. 

Aside from mortgage technology, ICE's primary business segments are trading exchanges and fixed income and data services.  

Moves ICE is making in secondary market trading

The Atlanta-based financial services and global exchange platform also pointed to initiatives combining the strengths of its ICE Bonds unit with mortgage technology data meant to increase transparency in capital markets. 

"Later this year, ICE Bonds plans to integrate pricing and analytics for mortgage technology to help traders make more informed trading decisions," Jackson said. 

"Also, in the second half of this year, we plan to launch the first version of our secondary whole loan trading platform. This is designed to automate and provide significant efficiencies to what is today a very analog process," he continued. 

As part of the efforts, the company launched a request-for-quote protocol in April for mortgage-backed securities that sits alongside ICE's existing MBS click-to-trade platform.