Live product and pricing eligibility without leaving Marksman;Price adjustments in the customer’s favor for up to 90 days if rates improve.
LINCOLN, Neb.— March 3, 2015—Mortech® a Zillow® business providing mortgage technology software solutions for mortgage bankers and secondary market teams, has integrated United Guaranty’s real time mortgage insurance quotes into Marksman, the company’s flagship marketing and product and pricing engine (PPE). The integration enables lenders to get a live private mortgage insurance rate estimate or rate quote when pricing a loan, without leaving the Marksman® platform.
Lenders can use United Guaranty’s Secure Quote® to lock in the model used to price their loan for up to 90 days and United Guaranty will adjust pricing in the customer’s favor if rates improve. Mortech links directly to United Guaranty’s Performance Premium® pricing, so the rate quote provided is always up to date and tailored to the specific client, eliminating the generalizations common with a static rate card-based connection.
“This integration gives our customers who use Mortech a rate and eligibility response in real time by connecting directly to United Guaranty’s Performance Premium. The live connection means they will always see their specific rates,” said Chris Clement, SVP-Field Production at United Guaranty.
“Empowering the consumer with more information sooner in the process is one key to a better overall customer experience and a great way to build a relationship with the borrower,” said Doug Foral, general manager of Mortech. “As consumers become more comfortable with the concept of shopping for a mortgage loan, those lenders that are readily able to provide the most accurate and complete quotes will have a competitive advantage.”
Through this new integration, lenders can further educate the borrower earlier in the loan process by providing a quick quote estimate of private mortgage insurance costs. A “live” initial estimate is a preliminary rate based upon a limited amount of information provided by the Marksman user and does not include all the information necessary to determine the actual mortgage insurance premium rate or underwriting eligibility. A “live” Secure Quote provides the premium rate and an indication of general underwriting eligibility based upon detailed information provided by the user.
Mortech® supplies thousands of mortgage professionals with a number of services and tools, such as all-in-one pricing, rate notification, prospect management tools, custom rate sheets, loan product eligibility and guideline services. Founded in 1987, Mortech is based in Lincoln, Neb. and is owned and operated by Zillow Group (NASDAQ:Z).
Mortech is a registered trademark of Zillow, Inc.
About United Guaranty
United Guaranty Corporation and its subsidiaries provide certainty to mortgage lenders through world-class underwriting, quality risk solutions, and dynamic pricing available through Performance Premium,® the industry’s only MI pricing that is truly risk-based. Established in Greensboro, North Carolina, in 1963, United Guaranty is a company of American International Group, Inc.
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