Intercontinental Exchange, Inc. (NYSE: Ice) today announced the launch of the Ice Prime Prime Prime Prafi (Ice Apor), which is updated weekly on the Inndent Inedic platform and the public.
The Apor Ice index represents the annual percentages from average interest rates, points, fees and other terms in mortgages offered to consumers. The Ice Apor uses the same data from the Technology Technology Ice Loan system of origin, which uses the Consumer Protection Office (CFPB) as the foundation of the weekly APOR rates it calculates and publishes.
“The existing Apor published by CFPB is a fundamental interest rate that affects mortgage lending standards and securitization qualifications,” said Chris Edmonds, president of ICE fixed income and data services. “The deep experience of ICE that utilizes trading data and designing reliable reference points was critical to the construction of Apor Ice, intended to provide additional and continuous transparency for both lenders and participants in the security market supported by mortgages.”
For lenders, consumers and participants in the secondary market, the Apor published by CFPB is used to determine whether a loan meets certain regulatory requirements, which may also affect the mortgage terms and whether a loan meets the securitization Mac.
ICE has a deep specialization that manages and publishes significant rates and indicators used in all world markets and the extensive global ICE index offer includes over 7,000 fixed incomes, shares, coins, basic and mortgaging indicators that trust in the world.