MILWAUKEE, June 6, 2017 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (NYSE: MTG), the nation's first private mortgage insurer, announced today the availability of affordable lending mortgage insurance rates through Optimal Blue's Product and Pricing Engine.
Access to affordable housing mortgage insurance rates is an enhancement to MGIC's existing integration, where Optimal Blue customers can price mortgage insurance with standard coverage. With this enhancement, when customers choose affordable product coverage, the interface displays HomeReady®, Home Possible® and HFA mortgage insurance rates.
"The enhancement provides a market advantage to Optimal Blue and MGIC customers," said Harper Wong, Director of Community Lending Solutions at MGIC. "Loan officers can now target borrowers who qualify for affordable products by providing accurate MI quotes in real-time."
"As the industry's leading secondary market automation platform, Optimal Blue's mission is to provide the most accurate product eligibility and pricing content to our lenders -- wherever and whenever it matters most," said Bob Brandt, Vice President of Marketing & Alliances for Optimal Blue. "In partnership with MGIC, we are proud to take another step forward with that mission by incorporating more precise mortgage insurance rates for affordable housing."
"We're pleased to expand our partnership with Optimal Blue, Freddie Mac, Fannie Mae and our HFA relationships to offer our mutual customers a superior experience," said Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC. "It demonstrates our continued commitment to offering affordable solutions to our customers and ultimately the borrowers."
MGIC, the principal subsidiary of MGIC Investment Corporation, this year celebrates 60 years of serving the mortgage finance industry. As the founder of modern private mortgage insurance, MGIC is committed to providing products and services that make originating affordable low-down-payment mortgages safer for the financial institutions served. Fulfilling this vital role helps families achieve homeownership sooner. At April 30, 2017, MGIC had $184.3 billion of primary insurance in force covering approximately 1 million mortgages.
About Optimal Blue
Optimal Blue operates the mortgage industry's digital marketplace, connecting lenders, investors, and providers with comprehensive secondary marketing solutions, market-leading capabilities and value-added services that deliver results. For more information, please visit www.optimalblue.com.
HomeReady® is a registered Fannie Mae trademark. Home Possible® is a registered Freddie Mac trademark.
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SOURCE MGIC Investment Corporation