MGIC Mortgage Insurance Now Available through LendingQB

-- Integration Streamlines Access to MGIC's Mortgage Insurance --

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Jul 12, 2016, 04:30 ET

MILWAUKEE, July 12, 2016 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC) announced today the availability of its mortgage insurance through the LendingQB^® end-to-end Loan Origination System (LOS).

Through the integration, LendingQB customers can seamlessly order MGIC rate quotes and mortgage insurance without leaving the LOS platform. In addition, MGIC rates are merged into the Universal Decision Engine (UDE), LendingQB's proprietary automated underwriting and loan pricing engine. With this capability, originators have unprecedented access to a one-step process that instantly qualifies loans with MGIC rates automatically included in the fees.

"Having MGIC available in LendingQB's decision engine is a tremendous advantage," said Michael Stalnaker, Vice President – Business Process Management at Mountain West Financial, a large lender based in Redlands, California. "Our loan officers can get an instant MGIC quote bundled into our pricing decisions and present an accurate offer to borrowers. Once the instantaneous quote is retrieved, all the quote information is automatically transferred over into the LOS and available to instantly order a policy."

The MGIC quote and order interface is embedded within the LendingQB platform, eliminating the need for processors to go outside of the LOS environment and manually key information back into the loan file. "By automating the MI quote and policy ordering process, our lenders save at least 10 to 15 minutes per loan," said Binh Dang, President of LendingQB. "The integration ensures data integrity and even saves policies automatically in our electronic document storage system."

"What really made the difference is the way that both MGIC and LendingQB helped us to use the interface," Stalnaker noted. "They were proactive in supporting our staff to make sure that the interface not only worked, but that we understood how to take full advantage of it. It was a very smooth experience."

"We're extremely pleased to partner with LendingQB," said Margaret Crowley, Vice President – Marketing and Customer Experience at MGIC. "It illustrates MGIC's and LendingQB's commitment to providing a best-in-class customer experience."

About MGIC
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. At May 31, 2016, MGIC had $176.1 billion of primary insurance in force covering approximately one million mortgages.

About LendingQB
LendingQB is a provider of 100% web browser-based, end-to-end loan origination software offering residential mortgage banking organizations lean strategies for optimal performance resulting in faster cycle time and lower costs per loan. For more information, please call 888.285.3912 or visit www.lendingqb.com.

SOURCE MGIC Investment Corporation