Intercontinental Exchange (ICE) announced a multiyear licensing agreement with REdistribute for permissioned access to multiple listing services (MLS) information.
The deal, in addition to existing agreements with the Realty Alliance and the National Association of Realtors, brings ICE’s MLS data coverage to more than 90% of active listings across the country.
“The data produced when properties are listed for sale contains essential market information that can serve many business and risk management use cases,” said Ben Graboske, president of mortgage data and analytics for ICE fixed income and data services.
“REdistribute provides clean, timely, highly compliant, and accessible listings data, which complements our comprehensive property data solution for banks, portfolio managers, government agencies and others who need access to the best, most up to date information on the housing market.”
Launched in 2022 by BrightMLS and California Regional MLS, REdistribute is an MLS-owned company that includes licensed data from more than 40 MLSs.
The company aggregates and distributes data from participating organizations and brokerages, providing current MLS data directly from the source to avoid any lags that can occur when data is pulled from public records, according to the REdistribute website.
In January 2023, REdistribute announced that it had secured data coverage for 50% of the residential real estate properties in the country.
“Our mission is rooted in the recognition that the work product of an MLS — that is, the real estate listings they produce — can, and should, bring additional value back to the MLS and its participating brokers,” said Amy Gorce, CEO of REdistribute. “Working with ICE in this way will help us to build on our vision and deliver better real estate data to those who need it.”
Since ICE acquired Black Knight in September 2023, the company has been accelerating its business expansion in the mortgage space.
In fourth-quarter 2023, ICE’s mortgage technology division reported an adjusted operating income of $193 million, up 98% from one year earlier. The boom was led by record sales of its Encompass loan origination system (LOS), its mortgage servicing platform (MSP) solutions business, and its data and analytics segment.
