![]() It will also enhance ICE’s growth strategy in mortgage technology, with complementary products and a wide array of customers and stakeholders who will benefit from our core and proven expertise in operating networks and marketplaces.” “Our planned acquisition represents a one-of-a-kind opportunity to add an extraordinary enterprise with great leadership to our family. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Twenty years after we founded Intercontinental Exchange to provide a transparent trading platform for the energy industry, and following two decades of providing continued innovation to help customers navigate global markets, we are pleased to announce the acquisition of Ellie Mae, which will help us similarly transform the mortgage marketplace,” said Jeffrey C. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages while maintaining strict adherence to various local, state and federal compliance requirements. Through its Digital Lending Platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market. residential mortgage industry.Įllie Mae, based in Pleasanton, California with approximately 1,700 employees, was founded in 1997 with a mission to automate and digitize the trillion-dollar residential mortgage industry. The deal, following ICE’s taking a majority stake in MERS in 2016, purchasing the remainder in 2018, and acquiring Simplifile in 2019, establishes ICE, through its growing ICE Mortgage Services network, as the leading provider of end-to-end electronic workflow solutions serving the evolving U.S. The transaction with Ellie Mae, a portfolio company of Thoma Bravo, a leading private equity investment firm, values Ellie Mae at approximately $11 billion. ![]() Jerry Adams, Chief Procurement Officer Carol Ellinger Haddock, P.E.Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, announced that it has entered into a definitive agreement to acquire Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry. Therefore, no Fiscal note is required as stated in the Financial Policies. ![]() Bids/proposals were not solicited because the department is utilizing a professional services procurement justification for this purchase.įunding for this item is included in the FY21 Adopted Budget. This procurement is exempt from the City’s Hire Houston First Ordinance. This procurement is exempt from the City’s MWBE subcontracting requirements as the total expenditure does not exceed the $100,000.00 threshold. This purchase would put them above the $50,000 threshold and therefore requires Council action Simplifile, LC has already received funds for other services this fiscal year. This recommendation is made pursuant to subsection 252.022(a)(4) of the Texas Local Government Code, which provides that "a procurement for personal, professional, or planning services" is exempt from the competitive requirements for purchases. With the Simplifile web-based application, users electronically scan, upload, and submit documents for recording then they are reviewed, recorded and stamped. Houston Public Works’ Real Estate Services group records over 300 documents annually for various acquisition, dedication, and research. Simplifile provides e-recording services in over 1,900 counties and access to recorded documents is available in after 24 hours of recording. The Director of Houston Public Works and the Chief Procurement Officer recommend that City Council approve professional services between the City of Houston and Simplifile, LC in the amount not to exceed $15,000.00 for real property e-recording for Houston Public Works and that authorization be given to issue a purchase order. H29858 – Professional services between the City of Houston and Simplifile, LC in the amount not to exceed $15,000.00 for real property e-recording for Houston Public Works. SIMPLIFILE, LC for Real Property E-Recording for Houston Public Works - $15,000.00 - Project Cost Recovery Fund H29858 - Real Property e-Recording - MOTION - SIMPLIFILE, LC
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