A new integration enables the completion of a mortgage insurance order from within the OpenClose LenderAssist loan origination system.
Arch MI says that there are time and cost savings for lenders from the new ability to receive a mortgage insurance quote, place the order, and receive the certificate all without leaving the LOS.
“The new, enhanced integration with OpenClose’s LOS platform brings the entire MI function full circle, delivering increased efficiencies for pricing, ordering and producing certificates,” said Carl Tyree, EVP and Chief Sales Officer at Arch MI. “One of our goals at Arch MI is to make our industry-leading products available wherever lenders want to do business with us, and we are proud to be the first MI to offer a fully integrated set of services on the OpenClose platform.”
The integration means that users can view and select a mortgage insurance product using Arch MI RateStar® pricing which evaluates a wide variety of loan characteristics to provide the most tailored, complete, and precise MI rate.
“We’ve enjoyed a tremendous relationship with Arch MI and are pleased to strengthen our integration to deliver more value to our mutual customers,” stated Vince Furey, Chief Revenue Officer at OpenClose. “Enhancing our integration with Arch MI is of particular importance as it establishes an automated workflow that speeds processing time and helps reduce the cost to manufacture loans.”
More market update: