WHEDA Partners With eMagic on New Online Loan Submission Portal

MILWAUKEE, June 10, 2011 /PRNewswire/ -- As a new benefit to its mortgage lending partners, the Wisconsin Housing and Economic Development Authority (WHEDA) is partnering with eMagic to provide a secure web-based portal through which lenders can electronically submit loan packages to WHEDA. The new private labeled web site, called WHEDA Connect, will increase efficiencies and reduce costs for both WHEDA and its lending partners.

The WHEDA Connect portal allows secure delivery of single family mortgage loan applications and closing packages and thereby lowering package delivery and processing costs and speeding up underwriting and closing package review turnaround times. Myers Internet, an eMagic subsidiary, is hosting the web site, www.wheda-connect.com, where partner lenders can sign-up for WHEDA Connect. The web site also serves as the access point for forms and other relevant information on the WHEDA Advantage program.

"This is a service that we've been eager to launch for some time now. With WHEDA Connect, we have a new, secure online resource to help achieve greater efficiencies in our loan origination process," explained Wyman Winston, Executive Director of WHEDA. "We'd like to recognize eMagic and Myers Internet in their efforts to help us continue our mission of providing low-cost financing to first time home buyers across the state."

"We're excited about our new partnership with WHEDA," explained Chad Northington, eMagic/Myers Managing Director. "At a time of lower origination volumes and increasing production and operational expenses, it's vital for organizations like WHEDA to make the most of every opportunity while keeping costs in check. eMagic's automated workflow combined with our Myers webhosting can help WHEDA do just that."

For more information on WHEDA Connect visit www.wheda-connect.com or call 1-800-334-6873. To learn more about eMagic or Myers Internet call 1-800-693-7730 or visit either www.emagic.com or www.myersinternet.com.

About WHEDA

WHEDA is a public body corporate and politic created in 1972 by the Wisconsin Legislature that provides low-cost financing for housing and small business development in Wisconsin. WHEDA does not rely on state tax revenue. Instead, the Authority raises capital through proceeds from the sale of revenue bonds and from interest earned on loans. For more information on WHEDA's housing programs, call 800-334-6873 or visit www.wheda.com.

About Myers Internet

Based in Milwaukee, Myers Internet provides web hosting, lead generation and back office solutions to mortgage originators and real estate agents. Since opening its doors in 1995, Myers remains a leading provider of website solutions in the mortgage and real estate industries.

Myers low cost, highly functional web sites enable clients to generate more business and save time through automation. Myers origination clients also benefit from a direct interface into eMagic, enabling one click lead to loan processing and delivering a comprehensive origination platform for mortgage originators. For more information, visit www.myers.com.

About eMagic

eMagic.com, LLC, is an e-commerce subsidiary of Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), which is headquartered in Milwaukee, Wisconsin. eMagic provides affordable online mortgage loan origination solutions for banks, credit unions, mortgage bankers and originators to help automate and simplify the mortgage process. eMagic is dedicated to expanding its product and service offerings to bring value and efficiency to its customers. Learn more at www.eMagic.com or by following @eMagic_com on Twitter.

SOURCE eMagic.com, LLC