New platform delivers faster mortgage insurance quotes through seamless, system-to-system integrations with lenders
EMERYVILLE, Calif., Dec. 19, 2019 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NMIH), has launched a new API (application programming interface) gateway that allows lenders and other industry partners to seamlessly integrate National MI Rate GPSSM, the company’s innovative risk-based mortgage insurance pricing tool, with their own systems.
National MI’s cloud-based API platform enables mortgage originators and providers of loan origination and pricing technology to retrieve accurate mortgage insurance quotes through Rate GPS in less than one second. The system is also highly scalable and customizable based on a lender’s specific needs, and easily integrates with any digital platform.
Due to increased demand of Rate GPS since its launch last year, National MI’s API technology improves transaction speed using a standard interface to make it easier for lenders to quickly secure accurate pricing.
“With Rate GPS now accessible through our new cutting-edge API technology, National MI is well-positioned to help lenders deliver a faster, more efficient customer experience as they develop their digital mortgage capabilities,” said Nicholas Ondrejka, chief information officer for National MI. “This new technology allows us to deliver competitive rates quickly, seamlessly and accurately.”
The API functionality—which provides for quicker, accurate mortgage insurance quotes upfront-- allows loan officers to consider a wider range of low-down payment mortgage options, enabling them to potentially qualify more borrowers.
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default. To learn more, please visit www.nationalmi.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act”), and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the performance of National MI's technology integration. Any or all of our forward–looking statements in this press release may turn out to be inaccurate. More information about the risks, uncertainties and assumptions affecting National MI can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. We have based these forward–looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, operating results, business strategy and financial needs. All forward–looking statements are necessarily only estimates of future results, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
John M. Swenson
Vice President, Investor Relations and Treasury