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mortgage insurance (MI)

VirPack and National MI Create Interface for Loan Document Delivery

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VirPack has announced that it has released an interface to the mortgage insurance (MI) system of National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings Inc. The interface enables lenders using VirPack’s Document Management and Delivery system to very efficiently transmit loan documents that are required for MI underwriting directly to National MI.Click to continue

Essent Guaranty and ISGN Announce Access to MI Through MORvision

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Essent Guaranty Inc., a nationwide provider of mortgage insurance (MI), has announced that it is now offering lenders access to Essent MI for delegated and non-delegated loans and rate quotes through ISGN’s MORvision Plug-In Partner Network.Click to continue

United Guaranty Introduces New Rescission Relief Option

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United Guaranty has introduced SecureCert, a suite of five options that allow lenders to choose the maximum rescission relief available in the mortgage insurance (MI) industry—at no added cost. The Federal Housing Finance Agency (FHFA) is requiring all mortgage insurers to adopt new master policies, effective Oct.Click to continue

FHFA Seeks Input on Potential MI Changes for GSEs

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The Federal Housing Finance Agency (FHFA) is seeking input on draft requirements that would apply to private mortgage insurance (MI) companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac. These requirements would apply only to private mortgage insurers that are currently approved to do business with Fannie Mae or Freddie Mac and those seeking approval in the future.  Click to continue

Study Finds 37 Percent of Homebuyers Purchased MI Over Past Decade

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Research released by TD Bank revealed that 37 percent of those who purchased a home in the past 10 years—and 43 percent of those who did so within the last two years—required mortgage insurance (MI). Of those who required PMI (private mortgage insurance), 65 percent said that the addition of a mortgage insurance premium left them paying a higher monthly mortgage payment than they originally expected.Click to continue

Mortech Adds LPMI Products to Mortgage Pricing Engine

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Mortech, a Zillow business providing mortgage technology software solutions for mortgage bankers and secondary market teams, has announced the release of new LPMI products and functionality to the suite of Consumer Financial Protection Bureau (CFPB) compliance tools built into Mortech’s Marksman product and pricing engine. Mortech released the compliance tools last November to allow loan originators to manage compliance upon intake, prior to the loan application entering the loan origination system, and has been adding functionality since then.Click to continue

Dinosaurs May Not Rule the Earth, but They Are Still Around

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Well sure, you don’t see any 50-ton Triceratopses rummaging through your garbage at night, but they are around. They just look different now. Sharks evolved about 350 million year ago and they are still terrorizing beach resorts, right? Alligators came on the scene about 200 million years ago. Take a stroll through the Florida Everglades slathered in chicken fat. My point is, you can still be a dinosaur in a mammalian world. You just have to learn to change a little.Click to continue