Press Release

Wolters Kluwer Financial Services Wins Mortgage Technology Magazine’s Fix-It Award with Loss Mitigation Service

MINNEAPOLIS – Oct. 14, 2009 – Wolters Kluwer Financial Services has won Mortgage Technology magazine’s 2009 Fix-It Award with its Loss Mitigation Service. Mortgage Technology presents the award each year to the company, product or technology application the publication feels has provided the industry with a technology tool that helps it address an industry problem, need or channel.

Mortgage Technology recognized Wolters Kluwer Financial Services and the company’s Loss Mitigation Service during an awards ceremony Sunday night at the Mortgage Bankers Association’s Annual Convention & Expo in San Diego. The judges noted in the October edition of Mortgage Technology magazine that Wolters Kluwer Financial Services Loss Mitigation Service “provides mortgage servicers with a single solution to help them minimize the number of loans that go into default, while maximizing the use of internal resources.”

On the front end of the loss mitigation process, Wolters Kluwer Financial Services enables servicers to quickly review their entire portfolios through a new automated tool that helps them rapidly identify the loans that can be modified, refinanced or paid off through a short sale before they go into default.

The company’s Loss Mitigation Service can then help servicers meet the requirements surrounding various loan modification programs through its expansive library of mortgage compliance documents and document preparation and delivery technology. These include: the government’s Home Affordability Refinance Program (HARP), Home Affordable Modification Program (HAMP) and HOPE for Homeowners program, as well as Freddie Mac, Fannie Mae, Treasury and Department of Housing and Urban Development guidelines. Since the HAMP program began this year, Wolters Kluwer Financial Services has helped mortgage servicers initiate nearly 60,000 trial modification packages. In addition, the company has helped servicers complete tens of thousands of standard modifications in 2009.

In addition, the company’s Loss Mitigation Service can help financial institutions comply with fair lending laws as required by the HAMP program through professional services and make the settlement process easier and faster for modifications through a complete, online suite of settlement services. Wolters Kluwer Financial Services can also help servicers record loan modification packages within any U.S. jurisdiction through a partnership with CT Lien Solutions, another Wolters Kluwer company.

“Lenders and servicers across the country are struggling to keep up with an unprecedented and growing need for loan modifications,” said Brian Longe, president and chief executive officer of Wolters Kluwer Financial Services. “We’re extremely pleased that Mortgage Technology has chosen to honor our efforts to help servicers manage the difficult task of modifying large numbers of loans at risk of default.”

About Wolters Kluwer Financial Services

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, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.