EMERYVILLE, Calif., Aug. 19, 2013 /PRNewswire/ -- National MI, a new mortgage insurance company with access to over $500 million of private capital, has successfully completed systems integration 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 with LoanServ streamlines data transfers and is expected to increase efficiencies for National MI's lender customers that use the Fiserv solution. "Our integration with LoanServ from Fiserv will enable National MI to support many of our customers' servicing needs by making the process more convenient and straight-forward," said Pete Pannes, chief sales officer at National MI.
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.
About National MI
Founded in 2012, National Mortgage Insurance Corporation (National MI) is headquartered in Emeryville, California, in the San Francisco Bay Area. NMI Holdings, Inc., National MI's parent company, raised over $500 million of capital in a private placement of its securities in April 2012 and is led by an experienced management team. National MI has received approval from Fannie Mae and Freddie Mac as a qualified mortgage insurer, and has been approved to provide mortgage insurance in 48 states and the District of Columbia. To learn more about National MI, visit www.NationalMI.com.
A registration statement relating to certain shares of common stock of NMI Holdings, Inc. has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the ordinary shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements and information included in this release may constitute "forward- looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of National MI to be materially different from any future results, performance, or achievements expressed or implied in such forward- looking statements. The company does not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.Fiserv.com
SOURCE National MI