Genworth Mortgage Insurance has launched a new enhancement to its integration with Ellie Mae’s Encompass360 platform in response to growing demand for streamlined full package underwriting. Through Genworth’s integration with Ellie Mae, lenders can now submit loans for full package (non-delegated) mortgage insurance (MI) underwriting to Genworth, plus order delegated MI and run rate quotes, without leaving Encompass.
Non-delegated underwriting, which allows the lender to submit loan documentation to Genworth so its underwriters can make the risk decision, represents a significant opportunity. Based on Genworth’s customer submission behavior, more than half currently submit non-delegated volume, reinforcing the need for this more advanced solution.
“Enabling faster and easier loan delivery options for more of our customer base continues to be a big focus of ours," said John Clifford, senior vice president of Commercial Operations. "This new non-delegated integration linking both Genworth’s platform and Ellie Mae’s Encompass platform eliminates wasted time and allows for more efficient, effective and accurate underwriting decisions. Ellie Mae is one of the leading LOS providers in mortgage finance and we’re pleased to partner with them. With the housing market showing steady recovery and homebuying season at its peak, every bit of progress to simplify the way we do business matters."