Acquisition Expands the Breadth of Wolters Kluwer's Content and Workflow Solutions for the Mortgage Industry
Wolters Kluwer Corporate & Financial Services, a division of Wolters Kluwer nv, today announced the acquisition of Entyre®, a leading provider of web-based compliance solutions to the mortgage lending industry. Entyre, located in Ann Arbor, Michigan, provides its loan closing document solutions to more than 350 mortgage lenders nationwide.
Brokers, bankers, and correspondent lenders have looked to Entyre for assistance with document preparation since 1987. Recently, Entyre responded to the market's need for an efficient data and document management and delivery software platform by introducing its eMortgage-X4(TM) solution. eMortgage-X4 allows for intelligent rules setting, comprehensive compliance testing, and a means for highly efficient electronic collaboration and communication between and among the numerous stakeholders in the mortgage origination and closing process.
"The addition of Entyre to Wolters Kluwer's portfolio strengthens our position as The Professional's First Choice for mortgage lenders seeking effective, forward-looking content and automation solutions," Christopher Cartwright, Chief Executive Officer of Wolters Kluwer Corporate & Financial Services division, said.
Wolters Kluwer's acquisition of Entyre expands upon the breadth and depth of the lending compliance and workflow solutions offered through its prominent brands -- VMP® Mortgage Solutions, PCi and its Wiz® solutions, and Bankers Systems. "Mortgage lenders and brokers across the nation rely on us as the best-of-class source for compliance content, technology tools, analytics, and services," Brian Longe, President and Chief Operating Officer of Wolters Kluwer Financial Services, said. "Adding Entyre's web-based X4 solution to our mortgage portfolio will provide customers and partners with a highly efficient web delivery channel, significantly increasing their productivity and growth opportunities."
The Entyre business will become a part of the Financial Services customer unit of Wolters Kluwer, which has been consistently expanding its value proposition for mortgage lenders. In 2000, Wolters Kluwer acquired VMP Mortgage Solutions, the leading provider of mortgage documentation and automation tools and an active leader in the advancement of electronic mortgages. In late 2004, Wolters Kluwer announced the acquisition of PCi Corporation, the highly respected provider of lending solutions that integrates business intelligence built on its analytics, reporting, and extensive sets of compliance-related data. PCi is recognized as a leader in the areas of Fair Lending, the Community Reinvestment Act (CRA), the Home Mortgage Disclosure Act (HMDA), predatory lending requirements, flood hazard determinations, and more. In 2003, Bankers Systems and VMP introduced their customer identification and anti-money laundering services and solutions for the mortgage industry, adding this critical functionality to their mortgage offerings.
Entyre has approximately 20 employees in its Ann Arbor office. Terms of the purchase agreement were not released.
About Wolters Kluwer Corporate & Financial Services
Wolters Kluwer Corporate & Financial Services, a division of Wolters Kluwer, is the leading provider of representation, search, and filing services to corporate legal departments and law firms; and compliance and operational risk management, capital changes, and corporate actions services and solutions for financial services organizations. Major division brands include CT Corporation, Bankers Systems, and GainsKeeper(R). Wolters Kluwer Corporate & Financial Services has annual revenues (2004) of €437 million and employs more than 2,700 employees.
Wolters Kluwer is a leading multinational publisher and information services company. The company's core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory, and education sectors. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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