Genworth Mortgage Insurance, a unit of Genworth Financial Inc., has enhanced its integration with Ellie Mae's Encompass360 platform in response to growing demand for streamlined full package underwriting.
Through Genworth's integration with Ellie Mae, lenders can now submit loans for full package (non-delegated) mortgage insurance (MI) underwriting to Genworth, plus order delegated MI and run rate quotes, without leaving Encompass.
Non-delegated underwriting, which allows the lender to submit loan documentation to Genworth so its underwriters can make the risk decision, represents a significant opportunity. Based on Genworth's customer submission behavior, more than half currently submit non-delegated volume, reinforcing the need for this more advanced solution.
‘Enabling faster and easier loan delivery options for more of our customer base continues to be a big focus of ours,’ says John Clifford, senior vice president of commercial operations for Genworth MI, in a release. ‘This new non-delegated integration linking both Genworth's platform and Ellie Mae's Encompass platform eliminates wasted time and allows for more efficient, effective and accurate underwriting decisions.’