MGIC Partners with OpenClose to Integrate Mortgage Insurance Workflows

Mortgage Guaranty Insurance Corporation’s Mortgage insurance is now available through the OpenClose LenderAssist loan origination system.

(Image source: MGIC homepage.)

Mortgage Guaranty Insurance Corporation (MGIC; Milwaukee, Wisc.), the first private mortgage insurer in the U.S., has partnered with OpenClose (West Palm Beach, Fla.), a multi-channel loan origination system (LOS) and digital mortgage fintech provider, to integrate MGIC’s rate quote and mortgage insurance workflows for both delegated and non-delegated mortgage insurance (MI) through the OpenClose LenderAssist loan origination system (LOS). This integration enhances the LenderAssist LOS by driving efficiency and accuracy within the mortgage insurance ordering process for mutual customers of MGIC and OpenClose, according to an MGIC statement.

“Developing tight integrations with our vendor partners that provide our customers immediate access to services from within the OpenClose ecosystem is critical,” comments Vince Furey, Chief Revenue Officer, OpenClose. “MGIC is a solid integration partner and this new interface streamlines the MI process, saving customers time, money and eliminating the potential for data entry errors.”

Right Rate at the Right Time

“We are proud to partner with OpenClose to provide access to MGIC mortgage insurance,” comments Margaret Crowley, Vice President of Marketing and Customer Experience, MGIC. “At MGIC, we strive to make it easy for our customers to access the right rate, at the right time, and our integrations with OpenClose are just one more way we can deliver on that promise.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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