(Image search: LendingPad quoting platform screenshot. )
Mortgage Guaranty Insurance Corporation (MGIC, Milwaukee) has partnered with WEI Technology LLC (McLean, Va.) to make MGIC’s mortgage insurance available through WEI’s loan origination system (LOS), LendingPad. MGIC will be the first carrier to offer mortgage insurance through LendingPad, enabling the platform’s customers to get quotes and order mortgage insurance.
Through a MISMO (Mortgage Industry Standards Maintenance Organization)-based integration, originators utilizing the LendingPad LOS can order MGIC rate quotes and delegated mortgage insurance without leaving the platform, MGIC reports. “This automation of data exchange helps improve the loan origination process by saving time and increasing accuracy,” an MGIC statement asserts.
“Customers are going to see a dramatic increase in efficiency as a result of integrating MGIC with LendingPad. We’ve streamlined the process so users can go from quoting MI rates to obtaining a mortgage insurance certificate in just a few clicks,” comments Wes Yuan, Managing Member, WEI Technology.
Meeting Growing Demand for Automation
“Our new integration with LendingPad addresses the growing demand for automation in the loan origination process,” comments Margaret Crowley, VP, Marketing and Customer Experience, MGIC. “Our partnership with LendingPad further demonstrates our dedication to offering automated solutions to our customers.”