**By Tony Garritano**
***We hear so much about people contracting these days. After all, not everyone can keep up with the new regulation and not everyone can transition to a purchase market with rates on the rise. So, when I hear of a company expanding or gaining traction, I think it’s worthy of sharing. In this case, National MI, a new mortgage insurance company with access to over $500 million of private capital, has successfully completed systems integration with LoanServ from Fiserv, a technology platform that performs mortgage servicing functions, including insurance coverage activation, billing transactions and certificate administration for lenders, banks, aggregators and credit unions. Here’s the story:
****The integration with LoanServ streamlines data transfers and is expected to increase efficiencies for National MI’s lender customers that use the Fiserv solution. “Our integration with LoanServ from Fiserv will enable National MI to support many of our customers’ servicing needs by making the process more convenient and straight-forward,” said Pete Pannes, chief sales officer at National MI.
****LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans. With LoanServ, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.
****National MI began writing mortgage insurance in April of this year. Both Fannie Mae and Freddie Mac approved National MI as a qualified mortgage insurer in January of 2013.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.