MortgageFlex Systems says that lenders using its LoanQuest loan origination system (LOS) now have easy interface with a broad selection of mortgage insurance (MI) providers with an enhancement of the LOS.
Lenders utilizing LoanQuest can now select the following mortgage insurers: Mortgage Guaranty Insurance Corp., United Guaranty Insurance Co., Republic Mortgage Insurance Co. and PMI Mortgage Insurance Co.
‘LoanQuest compliance with MISMO standards allows us to provide our customers with a choice of mortgage insurers,’ states Craig Bechtle, chief operating officer. ‘We are capable of interfacing easily and quickly with any vendor that supports the MISMO XML format.’
The ability to exchange standardized data promotes a more competitive atmosphere, so lending systems are not locked into a single MI vendor, and lenders can use their MI company of choice, the company explains.
Source: MortgageFlex Systems