OpenClose and MGIC Announce Technology Integration Partnership

OpenClose, an industry-leading multi-channel loan origination system (LOS) and digital mortgage fintech provider, and Mortgage Guaranty Insurance Corporation (MGIC), the nation’s first private mortgage insurer, jointly announced today the availability of MGIC’s rate quote and mortgage insurance workflows for both delegated and non-delegated MI, through the OpenClose LenderAssist™ LOS.

Through this MISMO-based integration, our mutual customers can order MGIC rate quotes and delegated MI or non-delegated MI certificates directly from within the LenderAssist LOS. The service includes access to MGIC’s recently introduced risk-based pricing model – MiQ. This integration enhances the LenderAssist™ LOS by driving efficiency and accuracy within the mortgage insurance ordering process for mutual customers of MGIC and OpenClose.

“Developing tight integrations with our vendor partners that provide our customers immediate access to services from within the OpenClose ecosystem is critical,” said Vince Furey, Chief Revenue Officer at OpenClose. “MGIC is a solid integration partner and this new interface streamlines the MI process, saving customers time, money and eliminating the potential for data entry errors.”

“We are proud to partner with OpenClose to provide access to MGIC mortgage insurance,” said Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC. “At MGIC, we strive to make it easy for our customers to access the right rate, at the right time, and our integrations with OpenClose are just one more way we can deliver on that promise.”

SOURCE Mortgage Guaranty Insurance Corporation