Compass Analytics, an industry-leading financial technology provider, and Mortgage Guaranty Insurance Corporation (MGIC), the nation’s first private mortgage insurer, jointly announced today the availability of MGIC’s mortgage insurance quotes through Compass Analytics’ product, pricing, and eligibility engine, CompassPPE™.
Through this technology integration in CompassPPE™, loan originators can select MI products and order MGIC rate quotes without leaving the platform. This automation brings real time mortgage insurance quotes to the point-of-sale, improving the borrower’s experience by optimizing pricing speed and accuracy.
This partnership with MGIC is another step forward in Compass Analytics‘ vision to provide seamless end-to-end mortgage pricing from point-of-sale through origination to capital markets.
“Our technology allows lenders to put accurate, granular pricing tools in the hands of loan originators so that they can help clients make well-informed decisions about one of the biggest investments of their lives. Our vision for pricing technology is to deploy the most advanced tools for bringing mortgage pricing quickly and accurately to the consumer,” said Nancy Pollard, Compass Analytics’ Managing Director of Pricing Technologies.
“We are proud to partner with Compass Analytics to provide access to MGIC mortgage insurance rates,” said Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC. “Whether lenders choose to use MGIC’s new MiQ rates or traditional rate card rates, our integration with Compass Analytics will ensure quick, easy access.”
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. At January 31, 2019, MGIC had $210.4 billion of primary insurance in force covering approximately one million mortgages.
From time to time MGIC Investment Corporation releases important information via postings on its corporate website, including corrections of previous disclosures, without making any other disclosure and intends to continue to do so in the future. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information can be found at http://mtg.mgic.com under Investor Information.
About Compass Analytics
Compass Analytics is an innovator in the FinTech industry and a leading provider of pricing technology to lenders. Compass develops cutting-edge mortgage analytics, and offers advisory and active risk management services to mortgage bankers, traders, investors, and banks. Compass’s platform is revolutionizing the way home loans are formed and sold through the use of innovative real-time technology supported with services, expertise and guidance.
SOURCE MGIC Investment Corporation