PMI Rate Pro says it has completed an integration with the Mortgage Cadence Platform (MCP), the newly released, cloud-based digital lending platform from Mortgage Cadence.
Through the integration, users of the Mortgage Cadence LOS can easily check pricing for private mortgage insurance from all six major underwriters and get a best execution result quickly.
“This puts some real power into the hands of the loan originator because it allows them to effortlessly search all MI providers and get the best price for their borrowers,” says Nomi Smith, founder and CEO of PMI Rate Pro. “We’ve been working very hard on our robust API ,and Mortgage Cadence is the first mortgage origination technology provider to put it to use. We’re very proud to be working with the MCP team.
PMI Rate Pro is an API-based technology provider that has built a single API to pull pricing data from all six possible sources of mortgage insurance so loan officers can provide transparency into loan pricing. Of the approximately 70% of all homebuyers that will require mortgage financing to buy a home, the National Association of Realtors estimates that 52% will put down less than 20% on their home purchase and require PMI.
