MILWAUKEE, Aug. 14, 2017 /PRNewswire/ -- Mortgage Guaranty
Insurance Corporation (MGIC), the nation's first private mortgage
insurer, announced today the availability of mortgage insurance
through WEI Technology LLC's loan origination system (LOS),
LendingPad.
Through the MISMO-based integration, originators utilizing the
LendingPad LOS can order MGIC rate quotes and delegated mortgage
insurance without leaving the platform. This automation of data
exchange helps improve the loan origination process by saving time
and increasing accuracy. MGIC is the first mortgage insurance
company to integrate with LendingPad.
"Customers are going to see a dramatic increase in efficiency as
a result of integrating MGIC with LendingPad. We've
streamlined the process so users can go from quoting MI rates to
obtaining a mortgage insurance certificate in just a few clicks,"
said Wes Yuan, Managing Member of
WEI Technology.
"Our new integration with LendingPad addresses the growing
demand for automation in the loan origination process," said
Margaret Crowley, Vice President of
Marketing and Customer Experience at MGIC. "Our partnership with
LendingPad further demonstrates our dedication to offering
automated solutions to our customers."
About MGIC
MGIC, the principal subsidiary of MGIC Investment Corporation
(NYSE:MTG), this year celebrates 60 years of serving the mortgage
finance industry. MGIC 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 July 31, 2017, MGIC had $188.6 billion of primary insurance in force
covering over one million mortgages.
About LendingPad
LendingPad's innovative loan origination system (LOS) was
created by mortgage professionals to modernize the complex loan
origination process. The solutions LendingPad offers elevate the
efficiency, compliance, and information security of brokers,
lenders, banks and credit unions. LendingPad's unique features
include customized dashboards, same-file multi-user capabilities
and real-time loan updates. These solutions streamline
the origination process, while lowering the total cost of
mortgage lending. LendingPad is a product of WEI Technology
LLC, headquartered in McLean, VA. More information is
available at www.lendingpad.com.
View original
content:http://www.prnewswire.com/news-releases/mgic-announces-partnership-with-wei-technology-300503343.html
SOURCE MGIC