The Voice • October 2018
Earlier this month, Intercontinental Exchange, Inc. (ICE) the New York Stock Exchange parent company gained full equity of MERSCORP Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). ICE has held a major stake with MERS since 2016. Now, with the MERS System infrastructure being relocated to the ICE Mahwah data center, the full acquisition has been completed as that was an “integral requirement” for ownership to fully transpire. [1]
“As the U.S. mortgage finance industry transitions from a paper-based process to more digital mortgages and electronic notes, MERS is uniquely positioned to provide a seamless process that will bring greater efficiencies to consumers, lenders and institutional investors,” said ICE Chairman and CEO. “ICE has a well-established track record of transitioning traditional analog businesses to digital marketplaces, and MERS represents another important chapter in that record.” Sprecher continued. [1]
The merging of MERS with ICE gives further indication that the marketplace continues to advance into the digital realm.
Sources
[1] https://www.housingwire.com/articles/47041-nyse-parent-company-ice-acquires-mers
[2] https://www.businesswire.com/news/home/20181004005185/en/Intercontinental-Exchange-Completes-Acquisition-MERS
[3] https://ir.theice.com/press/press-releases/all-categories/2016/06-17-2016-133008963
