MGIC, LoanQuest Offer Direct Integration for Policy Orders
Mortgage Guaranty Insurance Corporation and MortgageFlex Systems on Monday touted a fully integrated, MISMO based, interface for ordering MGIC mortgage insurance to mortgage lenders that are using MortgageFlex's LoanQuest platform. The partnership comes as mortgage insurers look to integrate with leading LOS platforms to drive more direct orders; in March, Triad Guaranty partnered up with Financial Industry Computer Systems, Inc., which offers a branded LOS called Loan Producer. It's unclear if the partnerships are exclusive or not, or if the MI providers are looking to interface with a number of different LOS platforms; calls to press representatives at MGIC for clarification were not immediately returned. The new interface between MGIC and the LoanQuest LOS makes it possible to send MI applications directly from the LoanQuest system to MGIC, the companies said. MGIC will automatically process the request and update the LoanQuest system as the status of the mortgage insurance request changes. "We're always looking for ways to make the lending process more efficient," said Craig Bechtle, senior vice president of product development, MortgageFlex Systems, Inc. "This new interface will provide our customers with the ability to receive MI approvals and rate information from MGIC without having to employ a secondary system." For more information, visit http://www.mgic.com and http://www.mortgageflex.com.