PRESS RELEASE: Wolters Kluwer Compliance Solutions and Floify announce collaboration for eNote digital signature closings

Product integration provides Floify customers with Wolters Kluwer eOriginal’s leading digital mortgage promissory eNote technology to expedite mortgage e-closings

Wolters Kluwer Compliance Solutions and Floify, a leading point-of-sale solution in the mortgage industry and subsidiary of Porch Group, Inc. (NASDAQ: PRCH), are collaborating to leverage the capabilities of Wolters Kluwer’s eOriginal product suite, the trusted leader in digital lending technology. The two companies are integrating Wolters Kluwer eOriginal’s digital promissory note (eNote) technology into Floify’s loan processing system through a hybrid e-closing process. This provides Floify customers a digital e-closing capability, allowing a digital signature over the traditional wet-signing approach.

The agreement also allows Floify to leverage Wolters Kluwer’s ability to create and execute an eNote, then manage the asset via Wolters Kluwer’s digital mortgage solution that includes the industry-leading eVault offering, which ensures that digitally processed loan documents retain the same legal enforceability as paper-based transactions.

The integration further enables both companies to drive innovation in the mortgage process through automation and digitization. Using the integrated eOriginal eNote and eVault technology within the Floify ecosystem, loan originators using Encompass, Floify's Hybrid E-Closing, and Floify E-Sign product will be able to allow borrowers to sign an eNote in the execution of loan documentation. The adoption of eNote signals the imminent and necessary innovation within the complex and primarily paper-based mortgage process, further highlighting Floify's approach to building the future of mortgage origination and execution.

"We're excited to be partnering with Wolters Kluwer and are now one step closer to offering full e-closings,” said Dave Sims, Chief Executive Officer of Floify. "We're continuously adapting and growing our platform to serve the ever-changing needs of our customers. Integrating the eOriginal eNote technology and digitizing the mortgage process allows us to provide mortgage solutions that reduce time and fees throughout the process."

Before eNote verification technology, all loan paperwork was required to be wet-signed, increasing the lag time from loan generation to execution and thereby adding risk to every loan. The digitization of loan paperwork streamlines and expedites the signature process. Wolters Kluwer eOriginal technology creates, transfers, and maintains eNote in a secure eVault, stored with a tamper-evident seal. Additionally, the technology registers all signed documentation with the MERS eRegistry to create a formal audit trail for use in court, if ever needed.

Wolters Kluwer supports digital lending by offering an open ecosystem, which enables financial institutions to utilize their preferred set of solutions to conduct digital transactions.

“Wolters Kluwer’s unique expertise and longstanding experience in the digital lending and loan compliance arenas provide lenders looking to embrace the digital journey the means to confidently advance their capabilities in a significant and substantive manner. Our eNote expert solution delivers immediate value in the loan origination process, yet another way in which lenders benefit from working with an experienced partner dedicated to their success,” said Steve Meirink, Executive Vice President and General Manager of Wolters Kluwer Compliance Solutions. “With its focus on innovation in the mortgage space, Floify is a natural partner, and its platform makes for an excellent fit with our capabilities. We look forward to sharing the benefits of this technology collaboration across Floify’s broad customer audience.”

Floify is a digital mortgage automation and point-of-sale solution that streamlines the loan origination process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Lenders use Floify to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify is based in Boulder, Colorado. For more information, visit the company's website at or on social media at Facebook, LinkedIn, or Twitter.

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.