MGIC partners with OpenClose for mortgage insurance ordering integration

by Candyd Mendoza16 Oct 2019

Private mortgage insurer Mortgage Guaranty Insurance Corporation (MGIC) has enhanced the ordering process of its products through an integration with OpenClose, a digital mortgage fintech provider.

MGIC partnered with OpenClose to make its rate quote and mortgage insurance workflow for both delegated and non-delegated MI available through the OpenClose LenderAssist loan origination system (LOS).

The MISMO-based integration allows customers to order MGIC rate quotes and delegated and non-delegated MI certificates directly from within the LenderAssist LOS. The companies said that the integration improves the LenderAssist LOS by enhancing the mortgage insurance ordering process for mutual customers MGIC and OpenClose.

"Developing tight integrations with our vendor partners that provide our customers immediate access to services from within the OpenClose ecosystem is critical," OpenClose Chief Revenue Officer Vince Furey said. "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."

"We are proud to partner with OpenClose to provide access to MGIC mortgage insurance," said Margaret Crowley, vice president of marketing and customer experience at 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."