New MI Products Offered Via LPS Loan Quality Gateway

New MI Products Offered Via LPS Loan Quality Gateway

03/08/2013 BY: TORY BARRINGER

In Jacksonville, Florida, Lender Processing Services, Inc., (LPS) announced the launch of new mortgage insurance (MI) products through the LPS Loan Quality Gateway.

The LPS Loan Quality Gateway is an open technology platform that provides the integrations, data management, decisioning, and workflow management required for current and emerging loan quality programs. Through the platform, lenders can now access new MI products through LPS to order rate quotes, eligibility and rate quote checks, and MI certificates.

In a release, LPS said the automated orders will reduce processing time and result in fewer manual errors.

The gateway can also manage a lender’s MI vendor compliance rules, including best-fit formulas, and provide continuous access to MI carriers throughout the mortgage life cycle.

Currently, several leading insurance carriers—including United Guaranty, Mortgage Guaranty Insurance Corporation, Essent Guaranty, Inc., and Radian, among others—are integrated with the LPS Loan Quality Gateway, offering lenders one source for MI carrier integrations.

“This new enhancement offers lenders more accurate, standardized and efficient selection of mortgage insurance, while helping them better meet the challenges of new regulations and requirements for overall loan quality,” said LPS COO Dan Scheuble. “The new MI products offered through LPS are one more way we can help lenders and service providers work together toward a more transparent, data-centric loan origination process.”

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