Intercontinental Exchang (ICE) launched an ICE APOR Middle Display Index, which is a new standard designed to improve transparency in the US mortgage and driving markets.
It is said that the index, which is updated weekly and available on the ICE index, aims to complete the APOR numbers currently published by the Consumer Financial Protection Office (CFPB).
The Stock Exchange explained that ICE APOR reflects the annual percentage rates based on the average interest rates, points, fees and other conditions provided on mortgage loans.
It is said that it uses the same loan -creating data, which is obtained from the ICE Mortgage Technology, which supports the official APOR account for CFPB.
“The deep ICE experience to take advantage of transactions and reliable standards design was decisive in building APOR ICE, which aims to provide additional and continuous transparency for both lenders and participants in the security -backed security market,” said Chris Edmunds, head of income and fixed data services for the ice.
APOR is a scale used to determine whether mortgage loans meet the regulatory requirements and qualify to obtain supplies by government sponsored companies, such as Vanny and Faridy Mac.
The new ICE index is expected to provide an alternative point of reference to support compliance and improve market clarity.
Ice currently runs more than 7,000 indicators through fixed income, shares, currency, commodities, and mortgage markets.