SAN JOSE, Calif. and MINNEAPOLIS — March 26, 2007 — Adobe Systems Incorporated (Nasdaq:ADBE) and Wolters Kluwer Financial Services today announced an agreement to provide lenders with a new option for delivering mortgages electronically. With this agreement, the companies will work together to provide integration between Wolters Kluwer Financial Services Expere® Integrated Enterprise (IE) solution and Adobe® LiveCycle® interactive process management software.
The Expere IE solution serves as a central repository for the multitude of data comprising a mortgage institution’s documents. When data is added, deleted, or changed in the repository, appropriate updates are automatically made to all of the documents—allowing an institution to use a single document library instead of multiple ones. Wolters Kluwer Financial Services plans to deliver its Expere IE content with support for PDF.
The combination of Expere IE content and LiveCycle will help lenders streamline the steps of mortgage sourcing, origination, processing and servicing; and enable them to customize, deliver and digitally sign mortgage forms quickly. This new solution is expected to reduce document errors and the costs associated with printing, and improve overall customer satisfaction as the time for processing mortgages is reduced. Additionally, new guidelines from MISMO, for electronically signing PDFs, and MERS (Mortgage Electronic Registration Systems), for registering loans via PDF, are helping to ensure that the electronic mortgage processes can be completed in a consistent and standardized fashion.
“Partnering with Adobe enables us to give lenders access to trusted compliance content, based on legislative and regulatory requirements from all 51 U.S. jurisdictions, in PDF,” said John Bryant, executive vice president of Banking and Mortgage for Wolters Kluwer Financial Services. “Lenders now have even more flexibility in selecting the tools that work best for their businesses.”
“The amount of paperwork involved in a mortgage is immense, and the content of loan documents can vary depending on the state or county,” said Eugene Lee, vice president of vertical and solutions marketing at Adobe. “The mortgage industry is increasingly embracing the benefits of PDF. By working with Wolters Kluwer Financial Services we are helping lenders to provide a seamless and secure PDF workflow process that saves time and reduces errors.”
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GainsKeeper®, CCH® Capital Changes, NILS INSource®, AuthenticWeb™, CCH Wall Street and GulfPak. Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, securities, and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com . Wolters Kluwer Financial Services is a unit of Wolters Kluwer, a leading global information services and publishing company with annual revenues (2005) of €3.4 billion and approximately 18,400 employees worldwide. For more information, visit www.wolterskluwer.com .
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