National MI, imortgage Begin New Mortgage Insurance Program

Posted by Patrick Barnard on March 07, 2014 No Comments
Categories : Mortgage Servicing

National Mortgage Insurance Corp. (National MI), a subsidiary of NMI Holdings Inc., has launched a new lender-paid mortgage insurance (LPMI) program with lender imortgage.

The program is backed by what National MI believes is an innovative delegated assurance review process. imortgage has approved National MI as a provider of private mortgage insurance.

Through this relationship, imortgage gains access to a new, well-capitalized source of private mortgage insurance with enhanced confidence of coverage and rescission relief available through National MI's delegated underwriting review process, according to NMI Holdings.

National MI's LPMI product enables imortgage to provide an innovative solution for borrowers, according to Dan Hanson, executive vice president of imortgage.

‘By teaming up with National MI to provide mortgage options for borrowers with lower down payments, we are creating additional opportunities for homeownership," Hanson remarks.

National MI has introduced a delegated assurance review process for its delegated customers that provides lenders with underwriting protection starting from day one, and rescission relief for every insured loan when a borrower has made timely payments for the first 12 months, says NMI Holdings.

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