Arch Mortgage Insurance Co., a wholly owned subsidiary of Arch Capital Group Ltd., and OpenClose, a multi-channel loan origination system (LOS) and digital mortgage fintech provider, have launched a new integration that enables their customers to complete an MI order and receive the MI certificate without leaving the LOS.
This will help speed processing and lower costs for mortgage lenders, the companies claim in a release.
Arch MI’s new MI order functionality supports both delegated and non-delegated mortgage insurance orders initiated from within the OpenClose LenderAssist LOS.
The integration adds a streamlined workflow-driven process for users to get an Arch MI quote, place an MI order and receive the MI certificate and pricing data, all within the LOS.
The integration allows OpenClose LenderAssist users to view rate comparisons and lock in Arch MI RateStar pricing.