Mortgage Guaranty Insurance Corp. (MGIC) now offers a fully integrated, MISMO-based, MI Request & Response interface for ordering MGIC mortgage insurance (MI) to mortgage lenders that are using LoanQuest from MortgageFlex Systems, a provider of software solutions for the mortgage industry.
The new interface makes it possible to send MI applications directly from the LoanQuest system to MGIC. MGIC will automatically process the request and update the LoanQuest system as the status of the MI request changes. According to the companies, this process contributes to a seamless mortgage lending process that helps increase the overall efficiency of the mortgage loan origination process for lenders.
The LoanQuest product platform provides continuous expansion and ongoing support for technology, personnel and business processes, while leveraging existing organizational investments and commitments. LoanQuest comes fully loaded with everything lenders need for a quick implementation and ways to control costs and adapt quickly to changing market conditions, the firm adds.