PathSoftware, a new highly configurable, cloud-based mortgage loan origination software (LOS) from CalyxSoftware, has announced its integration with Mortgage Guaranty Insurance Corp. (MGIC).
According to PathSoftware, this integration allows for two-way communication and secure data exchange between PathSoftware and MGIC. PathSoftware customers can now obtain MGIC rate quotes and order mortgage insurance without leaving their loan file.
The integration also auto-populates the appropriate mortgage insurance premium fields back into the loan file without leaving Path – decreasing data entry time and increasing accuracy.
PathSoftware is a completely data-driven, not form-driven, LOS. The company says this feature allows customers to input all borrower and property information only once in logical data fields, not across multiple forms. The software then uses this data to populate the forms, making it easier for mortgage lenders to adapt to and comply with new regulations.
“Our integration with CalyxSoftware addresses the growing demand for automation in the loan origination process,” says Margaret Crowley, vice president of marketing and customer experience at MGIC.
“PathSoftware was designed to simplify and streamline the mortgage origination process and tight integrations with our partners further this goal,” says Doug Mitchell, director of sales and support at PathSoftware. “We’re proud to partner with MGIC, the nation’s first private mortgage insurer, to make it easier than ever for joint clients to order MI and help first-time borrowers get into homes.”
