Intercontinental Exchange’s Mortgage Technology segment posted second-quarter 2026 revenue of $557 million, up 5% from $531 million a year earlier, with operating income more than quadrupling to $45 million from $11 million in the prior-year quarter, according to the company’s second-quarter earnings release filed with the Securities and Exchange Commission on July 30.
Within the segment, Servicing Software generated the largest share of revenue at $226 million, up 2% year over year, followed by Origination Technology at $197 million, up 5%. Data and Analytics revenue rose 6% to $69 million, while Closing Solutions was the fastest-growing product line, up 14% to $65 million. Recurring revenues across the segment totaled $406 million, up 3%, while transaction-based revenues rose a faster 11% to $151 million. On an adjusted basis — excluding $184 million of amortization tied to acquisition-related intangibles — Mortgage Technology’s operating income was $239 million, a 43% adjusted operating margin.
The Mortgage Technology results were part of a broader earnings beat for ICE, the parent of the New York Stock Exchange and a major provider of mortgage origination, servicing and data infrastructure to the lending industry. Companywide, ICE reported net revenues of $2.7 billion, up 5% year over year, with net income of $958 million. GAAP diluted earnings per share were $1.69, up 14%, while adjusted diluted EPS were $1.90, up 5%. The company returned $945 million to shareholders during the quarter, including $651 million in share repurchases, and its board approved raising the share-buyback authorization to $4.0 billion, effective July 1.
ICE organizes its business into three main segments: Exchanges (which includes the New York Stock Exchange and ICE’s futures and options markets), Fixed Income and Data Services, and Mortgage Technology. The mortgage-focused segment traces to ICE’s $11.9 billion acquisition of Black Knight, completed in September 2023, and its earlier acquisition of Ellie Mae, combining loan origination software, servicing systems, closing technology and property and mortgage data under one platform used broadly across the residential lending industry.
What it means: The jump in Mortgage Technology operating income — more than quadrupling year over year even as segment revenue grew a more modest 5% — suggests ICE is generating meaningfully better operating leverage from its mortgage software and data business, even as origination volumes across the broader industry remain constrained by mortgage rates that Freddie Mac has pegged near 6.66%, the highest level in a year. The segment’s fastest-growing line, Closing Solutions, points to continued digitization of the back half of the mortgage process — the closing and post-origination workflow — an area RealtyWire has also tracked through ICE’s own mortgage delinquency and default data products. Whether Mortgage Technology’s momentum continues will depend heavily on origination volumes across the broader lending industry, a dynamic also shaping results at other mortgage-adjacent lenders such as Redwood Trust, whose Aspire mortgage banking platform has also posted back-to-back quarters above $8 billion in production.
