More than 300 additional mortgage lender customer accounts of Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial Inc., 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.