Wolters Kluwer Compliance Solutions and Floify, a point-of-sale solution in the mortgage industry and subsidiary of Porch Group, Inc., are collaborating to leverage the capabilities of Wolters Kluwer’s eOriginal product suite.
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. The companies claim 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 its eVault offering, designed to ensure that digitally processed loan documents retain the same legal enforceability as paper-based transactions.
“We’re excited to be partnering with Wolters Kluwer and are now one step closer to offering full e-closings,” said Dave Sims, CEO 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.”