National MI Integrates with Mortech’s Product and Pricing Engine
Integration helps streamline origination process by providing access to National MI’s Rate GPS risk-based pricing from within Mortech’s platform
EMERYVILLE, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), the primary operating subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is now integrated with Mortech®, a Zillow® Group business. This integration brings National MI’s real-time, risk-based mortgage insurance pricing tool, Rate GPS® , to lenders leveraging Mortech’s industry-leading product and pricing engine, helping them gain operational efficiencies including increased productivity and decreased loan officer cycle time for a more expedited customer response time.
“National MI is very pleased to integrate with Mortech, an industry leader in mortgage pricing technology,” said Norm Fitzgerald, chief sales officer with National MI. “Lenders and mortgage professionals leveraging Mortech’s pricing engine will now have access to our competitive rates through our Rate GPS risk-based pricing tool, saving them time and streamlining the origination process.”
Mortech’s product and pricing engine provides lenders with instant, accurate pricing at the click of a button, factoring in base price, servicing-released premium (SRP), loan-level price adjustments (LLPAs) and profit margin. These fully automated processes that Mortech provides also include the ability to compare PMI pricing eligibility and product selection, which can help eliminate the need for lenders to manually search, compare and price mortgage insurance.
“We’re excited to now offer lenders using our platform an enhanced and simplified process for obtaining competitive mortgage insurance premiums for their customers, all in one unified workflow,” said Doug Foral, general manager of Mortech. “This integration will help our lenders stay competitive in today’s fast-paced mortgage environment.”
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), 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. To learn more, please visit www.nationalmi.com.
Mortech supplies thousands of mortgage professionals with a number of services and tools, such as all-in-one pricing, predictive analytics for customer retention, online rate quoting, API services, custom rate sheets, and loan product eligibility. Founded in 1987, Mortech is based in Lincoln, Neb. and is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG). Zillow and Mortech are registered trademarks of Zillow, Inc. For more information, visit: http://www.mortech.com/.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act”), and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the performance of National MI's technology integration. Any or all of our forward–looking statements in this press release may turn out to be inaccurate. You are cautioned not to place undue reliance on such statements. More information about the risks, uncertainties and assumptions affecting National MI can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission.
Investor Contact for National MI
John M. Swenson
Vice President, Investor Relations and Treasury
Press Contact for Mortech