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Private mortgage insurer integrated with new rate comparison tool that provides loan officers with mortgage insurance rate quotes in seconds
EMERYVILLE, Calif., May 20, 2020 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NMIH), announced that it is now fully integrated with PMI Rate Pro, a software platform that quickly gives loan officers all available mortgage insurance rates, enabling them to identify the most affordable rates for their borrowers.
PMI Rate Pro was founded by Nomi Smith and Luke Landau, two experienced loan officers. It is a stand-alone tool built with an application programming interface (API), and is customer relationship management (CRM)-agnostic.
“PMI Rate Pro saves loan officers time and fits in very well with National MI’s Rate GPSSM pricing tool,” said Norm Fitzgerald, chief sales officer for National MI. "It’s easy for loan officers to use and aligns perfectly with our mission to deliver a better mortgage insurance experience for our clients.”
“PMI Rate Pro is different because we offer a niche product that only provides mortgage insurance quotes,” said Donald Hawkins, chief innovation officer with PMI Rate Pro. “Due to a lack of time, many loan officers were only getting two rate quotes for their borrowers. PMI Rate Pro delivers multiple rate quotes in seconds.”
The onboarding process with lenders has been going smoothly, according to Megan Darnell, vice president of operations with PMI Rate Pro. “We truly value companies like National MI, which embraces technology and has made the integration seamless. PMI Rate Pro and National MI also have a shared interest in making life easier for loan officers, and ultimately in helping homebuyers get into homes,” Darnell said. "Interest from lenders has been strong," she said.
“PMI Rate Pro is a real game-changer for loan officers,” said Dan Moralez, regional vice president with Northpointe Bank. “By presenting all available MI rate quotes, it saves mortgage originators valuable time, and can also reduce monthly costs for 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