National MI integrates with OpenClose

By Edlyn Cardoza

National Mortgage Insurance Corporation (National MI), the primary operating subsidiary of NMI Holdings, Inc., is now integrated with OpenClose, a FinTech provider offering mortgage lenders a browser-based, comprehensive loan origination software (LOS) suite. With the integration, lenders can access National MI’s Rate GPS® rate quotes via the OpenClose LenderAssist™ LOS and order mortgage insurance directly through the OpenClose platform.

“National MI’s integration with OpenClose provides lenders with a true end-to-end, multi-channel LOS and application programming interface (API) suite, enabling an efficient mortgage insurance quoting and ordering process,” said National MI Chief Sales Officer Norm Fitzgerald. “OpenClose allows National MI customers to originate loans more seamlessly, and we’re proud to team up with them.”

“We’re very pleased to partner with National MI to make its competitive Rate GPS pricing available directly on the LenderAssist platform,” said OpenClose Chief Revenue Officer Vince Furey. “This integration enhances and streamlines the process for obtaining mortgage insurance rate quotes and ordering private mortgage insurance for National MI and OpenClose customers, saving them time and money.”

“OpenClose is known for its smooth and seamless integrations, which we have experienced first-hand when working with them,” said Fitzgerald. National Mortgage Insurance Corporation (National MI), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default.

Founded in 1999, OpenClose is the preeminent FinTech provider that developed the mortgage banking industry’s first SaaS-based lending automation software platform. Today, the company has expanded to become a comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40%, reduce processing and underwriting cycle times by up to 50%, and requires minimal support to install and manage. It is a vendor in the industry to offer a true end-to-end, omnichannel, 100% browser-based, a workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device.