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Essent Announces Launch of the Next Generation of EssentEDGE®
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Rhea-AI Summary
Essent Group Ltd. (NYSE: ESNT) has launched an upgraded risk-based pricing engine, EssentEDGE, designed to refine mortgage insurance pricing for lenders. This next-generation platform combines proprietary risk metrics and advanced analytics with traditional credit factors, enhancing access to mortgage credit for qualified borrowers. CEO Mark A. Casale emphasized the platform's cloud-based machine learning capabilities, which processes larger datasets efficiently. The updated EssentEDGE is now available via the Online Rate Finder tool and other pricing engines.
Positive
Launch of the upgraded pricing engine EssentEDGE enhances mortgage insurance pricing capabilities.
Utilization of cloud-based machine learning improves efficiency in risk evaluation.
Expanded access opportunities to mortgage credit for qualified borrowers.
Negative
None.
Expansion of the pricing platform leverages sophisticated modeling techniques benefiting borrowers.
RADNOR, Pa.--(BUSINESS WIRE)--
Essent Guaranty, Inc., a nationwide provider of mortgage insurance (MI) and a subsidiary of Essent Group Ltd. (NYSE: ESNT), announced today the launch of the next generation of their risk-based pricing engine, EssentEDGE, an enhanced platform uniquely blending proprietary risk metrics and advanced analytics with more traditional credit factors to offer more refined pricing to Essent’s lender partners.
“We continue to evolve and enhance EssentEDGE’s technology and credit analytics in quickly delivering MI pricing based on larger quantities of data to our customers,” said Mark A. Casale, Chairman and Chief Executive Officer. “Through cloud-based machine learning, next generation EssentEDGE is innovating the way we evaluate risk to deliver MI pricing and expanding access opportunities to mortgage credit for qualified borrowers.”
The next generation of EssentEDGE is available to Essent’s lender partners now via their Online Rate Finder tool, as well as most pricing engines and loan origination system interfaces.
About the Company:
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) which, through its wholly-owned subsidiary, Essent Guaranty, Inc., offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermuda-based subsidiary, Essent Reinsurance Ltd.Essent is committed to supporting environmental, social and governance (“ESG”) initiatives that are relevant to the company and align with the companywide dedication to responsible corporate citizenship that positively impacts the community and people served. Additional information regarding Essent may be found at www.essentgroup.com and www.essent.us.
Investor Relations
Christopher G. Curran Senior Vice President – Investor Relations
855-809-ESNT ir@essentgroup.com
Source: Essent Group Ltd.
FAQ
What is the new feature of Essent Group's pricing engine announced in the press release?
Essent Group announced the launch of an upgraded pricing engine, EssentEDGE, which offers refined mortgage insurance pricing by blending proprietary risk metrics and advanced analytics.
When was the new EssentEDGE platform launched?
The next generation of the EssentEDGE platform was launched recently as announced in the press release.
How does the EssentEDGE platform improve mortgage insurance pricing?
EssentEDGE improves mortgage insurance pricing by utilizing cloud-based machine learning to analyze larger datasets and refine risk assessments.
What benefits does the EssentEDGE platform provide to lenders?
The EssentEDGE platform enhances pricing accuracy and expands access to mortgage credit for qualified borrowers, benefiting lenders.
What is the stock symbol for Essent Group?
The stock symbol for Essent Group is ESNT, listed on the NYSE.
