ICE posts strongest quarter for mortgage tech since 2022

Intercontinental Exchange Inc., the operator of the New York Stock Exchange (NYSE) and parent company of ICE Mortgage Technology, reported its strongest quarterly mortgage business performance in four years during the second quarter of 2026. While reporting a profitable quarter, the company also announced the acquisition of MarketAxess Holdings Inc., an electronic trading platform for global institutional fixed income markets. ICE Mortgage Technology generated $557 million in total revenue, up 5% from a year earlier, according to filings posted Thursday with the Securities and Exchange Commission (SEC). On a pro forma basis, inclusive of Black Knight, the performance represented “the strongest quarterly performance since the first half of 2022,” chief financial officer Warren Gardiner told analysts. Mortgage technology operating expenses were $512 million in Q2, with operating income at $45 million and an operating margin of 8%. Most of the company’s revenues came from servicing software ($226 million) in the quarter, followed by origination technology ($197 million), data and analytics ($69 million), and closing solutions ($65 million). According to company executives, roughly 90%...