Essent Announces Enhanced Integration with PMI Rate Pro to Support EssentEDGE Pricing

Rhea-AI Summary

Essent Guaranty, a provider of mortgage insurance and subsidiary of Essent Group (NYSE: ESNT), announced an enhanced integration with PMI Rate Pro, a leader in MI pricing platforms. This collaboration now includes the ability to order mortgage insurance directly through PMI Rate Pro's platform, significantly improving efficiency and accessibility for customers. Essent's SVP of Operations, Kendra Placek, highlighted that this integration supports EssentEDGE, Essent's proprietary risk assessment and pricing engine. This enhancement builds on a partnership that began in 2020, offering direct user access and seamless API integration with loan origination systems and pricing engines.

Positive

• Integration with PMI Rate Pro enhances efficiency and accessibility for customers.
• Supports EssentEDGE, Essent's proprietary next-generation risk assessment and MI pricing engine.
• Direct user access and seamless API integration with loan origination systems and pricing engines.
• Long-term partnership with PMI Rate Pro since 2020, showing stability and growth in collaboration.

Negative

• No specific financial data or metrics provided in the PR to quantify the potential impact on revenue or profitability.
• Risk of over-reliance on a single technology provider (PMI Rate Pro) which could pose integration risks.

Expanded partnership with PMI Rate Pro for seamless ordering

RADNOR, Pa.--(BUSINESS WIRE)-- Essent Guaranty, Inc., a nationwide provider of mortgage insurance (MI) and subsidiary of Essent Group Ltd. (NYSE: ESNT) announced today an enhanced integration with PMI Rate Pro, an innovator in MI pricing platforms, to now include ordering MI. This represents an improvement in efficiency and accessibility for our mutual customers and prospective homeowners.

“Essent is pleased to evolve our partnership with PMI Rate Pro in providing customers an improved, intuitive interface which supports EssentEDGE, our proprietary next generation risk assessment and MI pricing engine,” said Kendra Placek, SVP of Operations at Essent. “We continue to be dedicated to providing streamlined access to our product offerings for customers and to working with mortgage technology providers focused on enabling a great mortgage experience for the borrower.”

Essent has partnered with PMI Rate Pro since 2020, working with them to build their product and platform into today’s feature rich offering which provides direct user access and seamless API integration with loan origination systems and pricing engines. This latest enhancement allows PMI Rate Pro customers to receive rate quotes, leverage risk allocation functionality and MI ordering directly without leaving PMI Rate Pro’s end-to-end API platform.

About PMI Rate Pro

PMI Rate Pro is a cutting-edge technology company hyper-focused on PMI. Our API first MI Pricing Engine delivers prices from all 6 MI providers across 5 standard insurance products, all with a single click of a button. The quotes can be displayed in order by best price, or in order based on our risk allocation algorithm. PMI Rate Pro has two products: MIQuote – Web application that quotes PMI and MIPrice- an end-to-end API product that allows mortgage software solutions to integrate once to get feature robust MI capabilities. https://pmiratepro.com/.

About Essent

Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) which serves the housing finance industry by offering private mortgage insurance, reinsurance, risk management products and title insurance and settlement services to mortgage lenders, borrowers, and investors to support homeownership. Additional information regarding Essent may be found at www.essentgroup.com.

Source: Essent Group Ltd.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240514990386/en/

Media Contact

610.230.0556

media@essentgroup.com

Investor Relations Contact

Philip Stefano

Vice President, Investor Relations

855-809-ESNT

ir@essentgroup.com

Source: Essent Group Ltd.

FAQ

What is the recent partnership announcement between Essent and PMI Rate Pro?

Essent announced an enhanced integration with PMI Rate Pro, allowing for direct ordering of mortgage insurance through the PMI Rate Pro platform.

How does the enhanced integration with PMI Rate Pro benefit Essent customers?

The integration improves efficiency and accessibility, allowing customers to order mortgage insurance directly and leverage EssentEDGE risk assessment and pricing engine.

When did Essent first partner with PMI Rate Pro?

Essent has been partnering with PMI Rate Pro since 2020.

What is EssentEDGE?

EssentEDGE is Essent's proprietary next-generation risk assessment and mortgage insurance pricing engine.