National MI Integrates with OpenClose

Rhea-AI Summary

National MI has announced the integration of its Rate GPS pricing with OpenClose LenderAssist LOS, enhancing the ordering process for private mortgage insurance. This collaboration allows lenders to obtain rate quotes and order mortgage insurance seamlessly through the OpenClose platform. Chief Sales Officer Norm Fitzgerald emphasized the efficiency gains for lenders, while OpenClose's Chief Revenue Officer highlighted the cost and time savings for customers. This partnership aims to streamline the mortgage insurance process, benefiting both organizations and their users.

Positive

• Integration with OpenClose enhances efficiency for lenders.
• Streamlined process for ordering mortgage insurance saves time and money.

Negative

• None.

National MI’s Rate GPS pricing is now available through the OpenClose LenderAssist LOS, streamlining the process of ordering private mortgage insurance for lenders

EMERYVILLE, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), the primary operating subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is now integrated with OpenClose, a fintech provider offering mortgage lenders a browser-based, comprehensive loan origination software (LOS) suite.

With the integration, lenders can access National MI’s Rate GPS^® rate quotes via the OpenClose LenderAssist™ LOS and order mortgage insurance directly through the OpenClose platform.

“National MI’s integration with OpenClose provides lenders with a true end-to-end, multi-channel LOS and application programming interface (API) suite, enabling an efficient mortgage insurance quoting and ordering process,” said National MI Chief Sales Officer Norm Fitzgerald. “OpenClose allows National MI customers to originate loans more seamlessly, and we’re proud to team up with them.”

“We’re very pleased to partner with National MI to make its competitive Rate GPS pricing available directly on the LenderAssist platform,” said OpenClose Chief Revenue Officer Vince Furey. “This integration enhances and streamlines the process for obtaining mortgage insurance rate quotes and ordering private mortgage insurance for National MI and OpenClose customers, saving them time and money.”

“OpenClose is known for its smooth and seamless integrations, which we have experienced first-hand when working with them,” said Fitzgerald.

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 OpenClose
Founded in 1999, OpenClose is the preeminent fintech provider that developed the mortgage banking industry’s first SaaS-based lending automation software platform. Today, the company has expanded to become an award-winning, comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40 percent, reduces processing and underwriting cycle times by up to 50 percent, and requires minimal support to install and manage. OpenClose is the only vendor in the industry able to offer a true end-to-end, omni-channel, 100 percent browser-based, workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device. For more information, visit https://www.openclose.com

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 OpenClose
Joe Bowerbank
Profundity Communications, Inc.
(949) 378-9685
jbowerbank@profunditymarketing.com

FAQ

What is the recent announcement from NMI Holdings regarding OpenClose?

NMI Holdings has integrated its Rate GPS pricing with OpenClose LenderAssist LOS, improving the mortgage insurance ordering process.

How will the NMI and OpenClose integration benefit lenders?

The integration allows lenders to access competitive rate quotes and order mortgage insurance directly, increasing efficiency and saving time and money.

When was the NMI and OpenClose integration announced?

The announcement was made on November 10, 2021.

What is the stock symbol for NMI Holdings?

The stock symbol for NMI Holdings is NMIH.