To streamline data transfers for its customers, National MI, a new mortgage insurance company with access to over $500 million of private capital, is now integrated with LoanServ from Fiserv, a technology platform that performs mortgage servicing functions including insurance coverage activation, billing transactions and certificate administration for lenders, banks, aggregators and credit unions.
The integration is expected to increase efficiencies for National MI's lender customers that use the Fiserv solution.
LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans. With LoanServ, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.
National MI began writing mortgage insurance in April of this year. Both Fannie Mae and Freddie Mac approved National MI as a qualified mortgage insurer in January of 2013.