Intercontinental Exchange Completes Acquisition of Simplifile

Intercontinental Exchange, Inc. announced it has completed its acquisition of Simplifile. On May 1, 2019 ICE announced that it would acquire Simplifile for $335 million. Simplifile’s connectivity to nearly 2,000 public recording entities, representing over 80 percent of the U.S. population, is a key part of the infrastructure needed to further drive digital transformation in the mortgage market. Simplifile was founded in 2000 and operates the largest network connecting the agents and jurisdictions that underpin residential mortgage records. The company serves as an electronic liaison between lenders, settlement agents and county recording offices, streamlining the public recording of residential mortgage transactions. Simplifile will become part of ICE Mortgage Services, whose mission is to make mortgage production easier and more transparent for all industry stakeholders. Simplifile has built a network in 1,941 counties in the United States. Its eRecording product allows customers to electronically record deeds, mortgages, liens, releases and other documents online, over the nation’s largest network.