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84 and iterative. We have a strong feedback loop in place, and look forward to taking our users' suggestions for making the experience of accessing both platforms from a single access point even better." "Our old process required us to mail mortgages to county offices nationwide, with a check in every package. It took us 5 to 7 business days to record a mortgage or file a release," said Becky Beard, AVP of Mortgage Operations at Deere Employees Credit Union. "Now, we upload our documents to the LenderClose platform and the county e-records it the next business day, sometimes within hours or even minutes. Once recorded, we're able to retrieve a copy of the documents, complete with county stamps." "Legacy lenders can't wait a minute longer to digitize," said Omar Jordan, CEO of LenderClose. "It's surprising how many lenders continue to rely on postal services, or even hand-delivery of documents, when the industry has access to fast, secure technology. By integrating with as many technology vendors as possible, we make it even easier for lenders to evolve their processes to new, exciting ways of serving digital consumers— and to close more loans while they're at it." ILLINOIS Morningstar Completes DBRS Acquisition Morningstar, Inc., a Chicago-based provider of independent investment research, recently announced it has entered into a definitive agreement to acquire DBRS for $669 million. e combination of DBRS with Morningstar Credit Ratings' U.S. business will expand global asset class coverage and provide an enhanced platform for providing investors with leading fixed-income analysis and research. "e chance to empower investors with the independent research and opinions they need across a multitude of securities first drove our decision to enter the credit ratings business," said Kunal Kapoor, CEO, Morningstar. "DBRS and Morningstar share research-centric cultures committed to rigor and independence. Together, we believe we can elevate the industry with the world's first fintech ratings agency backed by state-of-the- art models, modern technology, and expert research teams that issuers and investors can count on to deliver transparent and independent ratings." DBRS reported $167 million in revenue for the fiscal year ended November 30, 2018. e business generates strong cash flow with operating margins that are consistent with Morningstar's overall business. On a preliminary pro forma basis, if Morningstar owned DBRS as of Dec. 31, 2018, revenue from credit ratings would have represented approximately 17% of Morningstar's total revenue. "DBRS's more than 40 years of experience and success coupled with Morningstar's proven capabilities will offer an even stronger global alternative to larger ratings agencies," said Stephen Joynt, CEO, DBRS. "Both DBRS and Morningstar are driven by similar core values that aim to bring more clarity, diversity, transparency, and responsiveness to the ratings process, which makes Morningstar a perfect fit for us." OHIO Tornadoes Destroy Homes, Communities Residents in Dayton, Ohio, have been left to pick up the pieces after three tornadoes caused widespread damage recently. ABC News reported that more than 80,000 people—more than half of Dayton's reported population—were left without power after the tornadoes struck. e storm has caused one confirmed death. "I don't know that any community that is fully prepared for this type of devastation," Dayton Assistant Fire Chief Nicholas Hosford said on ABC's "Good Morning America." ABC went on to report that there were 51 tornadoes across eight Midwest states— Idaho, Colorado, Nebraska, Iowa, Minnesota, Illinois, Indiana, and Ohio. Ohio, and some of its larger metros, are no strangers to these storms. A recent Redfin report outlined the metros at most risk for a natural disaster, and three Ohio metros found their names on the list. Cleveland and Columbus, which are located 71 miles from Dayton, had a natural disaster ranking of 23. Cincinnati was close behind with a natural disaster ranking of 24. Cincinnati is located 54 miles from Dayton. According to the Redfin report, Columbus and Cleveland have experienced a combined 138 tornadoes. Cincinnati has 46 on record and Columbus' 78 tornadoes were tied for second most on the list with Atlanta, Georgia, and Minneapolis, Minnesota. ose impacted by the storm also face the IOWA A Holistic Partnership Two technology companies in the housing industry announced a partnership. LenderClose has integrated Simplifile, which functions as an electronic liaison between lenders and county recording offices. Simplifile has deployed its e-recording platform in 50% of all U.S. recording jurisdictions and plans to help the remaining 50% realize e-recording benefits in 2019. Because the Iowa-based LenderClose platform provides API connections to every vendor it takes to manage a mortgage or HELOC loan, the combination of the two platforms further streamlines the lending staff experience. e integration is a continuation of LenderClose's strategy to provide lenders a single point of access to the housing industry's top vendors to holistically digitize the loan cycle. LenderClose also recently integrated with MeridianLink's LoansPQ loan origination platform. "We cannot afford to lose sight of the borrower experience," said Ben Rempe, COO, LenderClose. "at's why we have placed such a high priority on putting the right technology and integrations into the hands of lending staff. When they are empowered to exceed expectations, the borrower experience is automatically improved." rough LenderClose, lending staff access a suite of property data reports and services— from flood certification and valuation products to title reports and e-recording. e result is a vastly accelerated underwriting process, an increasingly essential capability for all lenders. With one vendor, one integration, and one invoice, lending teams realize multiple points of efficiency. e pairing of LenderClose and the Utah- based Simplifile allows lenders nationwide to upload county recordable documents, such as mortgages, trust deeds, releases, and more, to the LenderClose platform without having to toggle between providers and accounts. Every LenderClose user will have access to e-recording and will remain inside the LenderClose platform as they engage directly with county recorders. "Vendor collaboration is critical for the continued digital transformation of the lending industry," said Paul Clifford, Simplifile Founder and President. "We're fortunate to have found an excellent match in the leadership of LenderClose. Bringing our two platforms together has been very smooth

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