National MI Integrates with Mortech’s Product and Pricing Engine

Rhea-AI Summary

National MI, a subsidiary of NMI Holdings (NASDAQ: NMIH), has integrated with Mortech, a Zillow Group company. This collaboration allows lenders to access National MI’s Rate GPS risk-based pricing tool within Mortech’s platform, enhancing productivity and reducing loan officer cycle times. The integration aims to streamline the mortgage insurance origination process by providing quick and accurate pricing. Both companies expect this partnership to improve lenders' competitiveness in the mortgage market.

Positive

• Integration with Mortech enhances access to risk-based pricing, improving lenders' productivity.
• Streamlined origination process allows for expedited customer response times.

Negative

• None.

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. 

About Mortech
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. 

Press Contact for National MI 
Mary McGarity
Strategic Vantage Mortgage Public Relations
(203)260-5476
MaryMcGarity@StrategicVantage.com

Investor Contact for National MI
John M. Swenson
Vice President, Investor Relations and Treasury
john.swenson@nationalmi.com
(510)788-8417

Press Contact for Mortech
Greg Bartosch
press@zillow.com

FAQ

What is the significance of National MI's integration with Mortech?

The integration provides lenders with streamlined access to National MI's risk-based pricing tool, Rate GPS, improving efficiency in the mortgage origination process.

How does the Rate GPS pricing tool help lenders?

Rate GPS enables lenders to obtain competitive mortgage insurance pricing quickly, which enhances their operational efficiency and response times.

What benefits can lenders expect from the National MI and Mortech partnership?

Lenders can expect increased productivity, reduced loan officer cycle times, and a more competitive edge in the mortgage market.

What company operates National MI?

National MI is a subsidiary of NMI Holdings, which is publicly traded on NASDAQ under the symbol NMIH.

When was the integration between National MI and Mortech announced?

The integration was announced on March 02, 2021.