Mortgage Guaranty Insurance Corp. (MGIC), a private mortgage insurer, says its portfolio of products is now available through WEI Technology LLC’s loan origination system (LOS), www.lendingpad.com.
Through MISMO-based integration, originators utilizing the LendingPad LOS can order MGIC rate quotes and delegated mortgage insurance without leaving the platform. This automation of data exchange helps improve the loan origination process by saving time and increasing accuracy, the companies say. MGIC is the first mortgage insurance company to integrate with LendingPad.
“Our new integration with LendingPad addresses the growing demand for automation in the loan origination process,” says Margaret Crowley, vice president of marketing and customer experience at MGIC.
“Customers are going to see a dramatic increase in efficiency as a result of integrating MGIC with LendingPad,” adds Wes Yuan, managing member of WEI Technology. “We’ve streamlined the process so users can go from quoting MI rates to obtaining a mortgage insurance certificate in just a few clicks.”