RICHMOND, Va., Feb. 13, 2013 /PRNewswire/ -- More than 300 additional mortgage lender customer accounts of Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, Inc. (NYSE: GNW), now have the ability to process loans faster and receive mortgage insurance commitments electronically with the recent completion of integrated electronic interfaces with Ellie Mae's Encompass360® and Lender Processing Services' (LPS) PCLender® loan origination systems (LOS).
The integrations with these leading LOS providers allow mortgage lenders to get direct access – at the push of a button – to Genworth USMI rate quotes and ordering of commitments to grant mortgage insurance, without leaving their internal loan origination system. This can reduce the time and simplify the process needed to obtain confirmation of Genworth mortgage insurance coverage. The ability to order mortgage insurance through LOS interfaces is available for customers authorized by USMI to underwrite mortgage loans based on its guidelines. The option to obtain a Genworth mortgage insurance rate quote is available to all LOS users.
These integrated connections between Genworth and lenders' loan origination systems allow the lender to reduce duplicate data entries and speed up mortgage loan processing. Processors may be able to significantly boost productivity, reducing the time required to submit a mortgage loan to Genworth USMI by up to 10 minutes in some cases. With the recently completed Encompass360 and PCLender integrations, all the information needed to populate the required mortgage insurance fields and provide a rate quote or commitment for mortgage insurance is delivered automatically for most loans.
"Genworth technology solutions can streamline our customers' mortgage origination processes," said Erika Stinson, digital channel product manager for Genworth USMI. "The integrations are part of Genworth USMI's ongoing technology innovation and process improvements to ensure that it is easy for customers to do business with us. Our integrations with PCLender and Encompass360 make these improvements available to even more customers."
Genworth USMI provides seamless, secure electronic data connections to the mortgage origination systems of the nation's leading LOS providers, as well as to the proprietary systems of many of the nation's largest lenders.
To help make these integration efforts as easy as possible for customers, Genworth USMI last year introduced a new process that allows for faster execution of the integration agreement letter, requires less testing to setup, and allows connections to some LOS systems to be completed by the lender's own technology administrators without additional intervention from Genworth. User guides and information on the integrations process can be accessed on Genworth's customer-facing website at: http://mortgageinsurance.genworth.com/LenderServices/LoanOriginationSystems.aspx.
Encompass360 is offered by Ellie Mae®, one of the leading providers of on-demand loan origination technology to participants in the residential mortgage industry.
The Origination Technology division of LPS offers the PCLender loan origination system. LPS is a leading provider of integrated technology, data and analytics to the mortgage and real estate industries.
Customers who have completed the LOS integration with Genworth now originate more than 80 percent of their loans using the faster electronic interface, which shows their satisfaction with the process. Customers can contact their Genworth USMI account representative to learn more about the benefits of integrating with their current LOS vendor, or they can direct questions about new or prospective integrations to USMI's ActionCenter® at 800-444-5664, or Action.Center@genworth.com.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,300 employees and operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection, Wealth Management and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, Inc., headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth Financial, Inc. releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com.
SOURCE Genworth Financial, Inc.