|By PR Newswire||
|March 17, 2014 07:00 AM EDT||
MILWAUKEE, March 17, 2014 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC) announced today the availability of private mortgage insurance rate quotes to lenders through Optimal Blue, the leading product and pricing engine and enterprise lending services for the mortgage banking industry. The integration marks the first of a series of implementations for MGIC with Optimal Blue.
The MISMO-based integration now allows Optimal Blue users to seamlessly check MGIC's pricing – which is automatically triggered when a loan scenario exceeds the 80% loan-to-value (LTV) threshold – for up to five products without having to leave the platform.
"This integration improves the customer experience for both MGIC and Optimal Blue," said Sal Miosi, Vice President of Marketing at MGIC. "Seamless access to MGIC's transparent and competitive rates through the platform enables our customers to streamline their loan origination processes while satisfying compliance needs and borrower expectations. We're extremely pleased to partner with Optimal Blue."
Larry Huff, Co-CEO of Optimal Blue, said, "MGIC is one of the most respected mortgage insurance companies in the industry. Through this collaborative effort, we feel new standards for integration excellence and customer experience have been achieved. This was an exceptional effort for both teams and delivers on the promise of a seamless, easy-to-use experience that customers have been requesting for some time. We are glad our partnership with MGIC can provide such great value."
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, is a private mortgage insurer with $158.7 billion primary insurance in force covering approximately 1.0 million mortgages as of December 31, 2013. MGIC serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.
About Optimal Blue
Optimal Blue is a cloud-based provider of managed-content, product eligibility, pricing (PPE), secondary marketing, point-of-sale and compliance technology and services. Based in Plano, Texas, Optimal Blue has developed an enterprise class suite of products and services designed to automate a lender's complex processes, improving efficiency and profitability while gaining a competitive advantage. For more information, please visit www.optimalblue.com.