EMERYVILLE, Calif.,
Oct. 21, 2013 /PRNewswire/
-- National MI, a private mortgage insurance (MI) company, has
successfully completed a systems integration with LPS'
MSP® servicing platform, a leading servicing technology
for the mortgage industry.
(Logo:
http://photos.prnewswire.com/prnh/20130731/FL56494LOGO )
The integration is expected to save mortgage servicers time and
money by allowing the servicer to report MI billing and
disbursements, new loans, cancellations and delinquencies
electronically to National MI. LPS' MSP servicing technology
platform gives mortgage bankers the ability to automate all areas
of loan servicing, including loan setup and maintenance, customer
service, cashiering, escrow administration, investor accounting and
default management for servicers throughout the country.
"We appreciate National MI's trust in LPS' best-in-class
servicing technology to help optimize support for their customers'
MI servicing process," said LPS Chief Information Officer
Joe Nackashi.
Both Fannie Mae and Freddie Mac approved National MI as a
qualified mortgage insurer in January
2013. National MI began writing mortgage insurance in April
of this year. In late July, National MI agreed to insure an amount
approximating $5 billion in
residential mortgages in its first risk transfer transaction with
Fannie Mae, with an effective date of September 1, 2013.
About National MI
Founded in 2012, National Mortgage
Insurance Corporation (National MI) is headquartered in
Emeryville, California, in the
San Francisco Bay Area. NMI
Holdings, Inc., National MI's parent company, raised over
$500 million of capital in a private
placement of its securities in April
2012. National MI has received approval from Fannie Mae and
Freddie Mac as a qualified mortgage insurer, and has been approved
to provide mortgage insurance in 48 states and the District of
Columbia. To learn more about National MI, visit
www.NationalMI.com
A registration statement relating to the initial public offering
of common stock of NMI Holdings, Inc. has been filed with the U.S.
Securities and Exchange Commission but has not yet become
effective. The shares subject to the registration statement may not
be sold, nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the ordinary shares in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
Certain
statements and information included in this release may constitute
"forward- looking statements" within the meaning of the Federal
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, or achievements of National MI to be materially
different from any future results, performance, or achievements
expressed or implied in such forward- looking statements. The
company does not undertake any obligation to update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
About Lender Processing Services
LPS (NYSE: LPS)
delivers comprehensive technology solutions and services, as well
as powerful data and analytics, to the nation's top mortgage
lenders, servicers and investors. As a proven and trusted partner
with deep client relationships, LPS offers the only end-to-end
suite of solutions that provides major U.S. banks and many federal
government agencies the technology and data needed to support
mortgage lending and servicing operations, meet unique regulatory
and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing,
portfolio retention and default servicing. LPS' servicing solutions
include MSP, the industry's leading loan-servicing platform, which
is used to service approximately 50 percent of all U.S. mortgages
by dollar volume. The company also provides proprietary data and
analytics for the mortgage, real estate and capital markets
industries. Lender Processing Services is a Fortune 1000 company
headquartered in Jacksonville, Fla. For more information,
please visit www.lpsvcs.com.
Press
Contacts:
|
For National
MI:
|
For
LPS:
|
Mary
McGarity
|
Michelle
Kersch
|
Strategic Vantage
Mortgage Public Relations
|
LPS Corporate
Communications and Marketing
|
MaryMcGarity@StrategicVantage.com
|
Michelle.kersch@lpsvcs.com
|
(203)
513-2721
|
(904)
854-5043
|
SOURCE National MI