MGIC, PreApp 1003 Announce Integration

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Mortgage lenders using PreApp 1003, a cloud-based mortgage prequalification system, can now get price quotes and order insurance from Mortgage Guaranty Insurance Corp. (MGIC) without having to leave the PreApp 1003 interface, thanks to an integration announced by the two companies.

This integration – unique to PreApp 1003 and MGIC – allows loan officers to provide their borrowers accurate, real-time mortgage loan rates that require mortgage insurance. This automation helps improve the point-of-sale experience of the loan origination process by saving time and increasing precision.

“PreApp 1003 just got even more efficient for a loan originator to pre-qualify a prospective borrower from a mobile device,” says Dru Brents, founder and CEO of PreApp 1003, in a release. “With MGIC mortgage insurance now embedded in the system, loan originators can work debt-to-income ratios more quickly and accurately.”

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