Wolters Kluwer Beefs Up Flood Determinations Through Acquisition
Wolters Kluwer Financial Services acquired a substantial portion of Austin-based Stormwater Research Group, which provides flood compliance solutions to the mortgage banking industry. Wolters Kluwer will expand its presence in the flood determination aspect of mortgage lending with its acquisition of Stormwater, which provides both basic and life-of-loan flood determination services. Stormwater's operations, combined with Wolters Kluwer's PCi line of flood solutions, will provide lenders with regulatory compliant flood determinations and will help lenders and servicers ensure flood insurance is maintained throughout the loan's life. The partnership -- the terms of which are not being publicly released -- also provides Stormwater's customers with access to Wolters Kluwer's online database of flood determinations. Write to Diana Golobay.