RICHMOND, Va., April 9, 2014 /PRNewswire/ -- Loan officers and other mortgage originators will have easy access to the mortgage insurance industry's broadest guidelines and competitive rates with the launch today of a seamless integration between Optimal Blue® and Genworth Mortgage Insurance, the Raleigh, NC-based unit of Genworth Financial, Inc. (GNW).
The integration with Optimal Blue, the mortgage industry's leading and largest product and pricing engine (PPE), makes pricing and information about Genworth mortgage insurance products available to loan officers at approximately 600 additional mortgage lending institutions. These customers now will have the ability to more quickly price loans with Genworth mortgage insurance, which can boost productivity.
"This new integration will provide current and prospective customers with Genworth pricing accuracy, improved ease of use, and operational efficiency," said Erika Stinson, Genworth MI digital channel product manager. "We tested extensively with customers prior to launching this integration to make sure we offered functionality that no other MI company currently can match. Customer feedback has been overwhelmingly positive."
Exclusive functionality of the Genworth MI integration with Optimal Blue lets originators:
- Email rate quote results to themselves or others in the origination process, such as a processor or underwriter. Originators can add the borrower name and loan number to the results to ensure MI rate information is tied to the correct loan file, which can help lenders with compliance.
- View and print results that contain all the loan parameters used to generate the MI quote.
- See a brief description of each Genworth MI product when the computer cursor hovers over it.
- Generate a Scenario ID to allow a loan originator to recall a specific Optimal Blue Genworth MI rate quote obtained through Genworth's Rate Express®, and order MI directly from Rate Express.
Optimal Blue's enterprise pricing, point-of-sale, compliance and secondary marketing automation services continue to stretch the boundaries of managed-content productivity tools, according to Larry Huff, Co-CEO of Optimal Blue. Huff said, "Our collective objective was to continue to improve access to information and automate workflow in a way that enhances the lender's and originator's operational efficiencies and improves compliance. We feel we have set a new standard in these two areas." Huff continued, "Working with Genworth MI on this project represents our desire to tackle the tough challenges our customers are confronted with."
Optimal Blue and Genworth MI will co-host webinars for customers to learn more about the integration on April 15, 16 and 17. Customers may register for a webinar beginning April 14 by visiting http://mortgageinsurance.genworth.com.
The integration will allow mortgage loan originators to get direct access – at the push of a button – to Genworth USMI rate quotes, including comparison of Genworth MI rates with Federal Housing Administration coverage. This can reduce the time and simplify the process needed to obtain information about Genworth mortgage insurance rates and eligibility. The Optimal Blue integration also will automatically calculate MI Premium Tax information, where needed.
Stinson said Genworth MI provides seamless, secure electronic data connections to the mortgage origination and pricing systems of the mortgage industry's leading LOS and PPE providers, as well as to the proprietary systems of many of the nation's largest lenders. "We continually add technology innovations and process improvements that make it easy for customers to do business with us," she added.
User guides and information on the integrations process can be accessed on Genworth's customer-facing website at:
About Genworth Financial
Genworth Financial, Inc. (GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, and financial protection coverages -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com.
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