ICE Mortgage operating income returns to the black

​​Intercontinental Exchange touted Encompass wins in the second quarter and revealed coming technology upgrades that it expects to enhance mortgage bond trading in its latest earnings call.    

The company’s mortgage technology unit reported growth on both a quarterly and annual basis, with operating income coming in at $11 million in the second quarter. Operating margin was 2%. Income came in positive for the first time in over two years and improved from losses of $27 million in the first quarter and $32 million a year ago. 

ICE’s historical earnings data includes pro forma numbers from Black Knight, previous owner of its MSP servicing platform, prior to the merger of both companies in 2023.  

Profits came off of $531 million in second-quarter revenue, representing an…