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Integration Streamlines MGIC Mortgage Insurance Ordering Process

PathSoftware, a new cloud-based mortgage loan origination software (LOS) from CalyxSoftware, has completed an integration with Mortgage Guaranty Insurance Corporation (MGIC). This integration allows for two-way communication and secure data exchange between PathSoftware and MGIC.

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PathSoftware customers can now obtain MGIC rate quotes and order mortgage insurance without leaving their loan file. The seamless integration also auto-populates the appropriate mortgage insurance premium fields back into the loan file without leaving Path—decreasing data entry time and increasing accuracy.

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PathSoftware is a fully data-driven, not form-driven, LOS. This key feature allows customers to input all borrower and property information only once in logical data fields, not across multiple forms. The software then uses this data to populate the forms, making it easier for mortgage lenders to adapt to and comply with new regulations.

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“Our integration with CalyxSoftware addresses the growing demand for automation in the loan origination process,” said Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC. “This partnership further illustrates our commitment to providing best-in-class customer experiences.”

“PathSoftware was designed to simplify and streamline the mortgage origination process and tight integrations with our partners further this goal,” said Doug Mitchell, Director of Sales and Support at PathSoftware. “We’re proud to partner with MGIC, the nation’s first private mortgage insurer, to make it easier than ever for joint clients to order MI and help first-time borrowers get into homes.”

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New Integration Seeks To Stop Fraud And Enhance Risk Mitigation

PathSoftware, a loan origination software (LOS) from CalyxSoftware, has integrated with First American Mortgage Solutions’ FraudGuard, a data-driven decision-support tool that increases the speed and accuracy of application reviews to help mitigate risk and improve loan quality. The tool leverages advanced analytics, reporting, defect trending and audit trails, drawing on public, private and proprietary data sources garnered from over 28 million reviewed loans.

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The DirectConnect integration enables PathSoftware users to seamlessly access FraudGuard without having to leave the LOS and run automated decision support services that provide critical data insights. This helps residential lenders, including credit unions, streamline operations and become more efficient through process and workflow automation, data aggregation and risk analysis. In addition, it gives lenders the confidence that they are originating compliant loans, which in turn allows them to provide homebuyers with a quicker loan approval and a better consumer experience.

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“We’re thrilled to be the first risk mitigation provider to integrate with the PathSoftware LOS,” said Kevin Wall, President of First American Mortgage Solutions. “FraudGuard is designed to improve loan quality, and the more we can do to give lenders the convenience and confidence to quickly produce higher quality loans, the better the experience and outcome for everyone, including consumers.”

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“In today’s highly regulated mortgage environment, lenders need to prove they’re originating loans to the highest quality standards,” said Bob Dougherty, Vice President of Business Development at PathSoftware. “Our integration with First American Mortgage Solutions’ FraudGuard will help lenders identify potential fraud risk in mortgage applications, giving them the confidence that they’re complying with regulations.”

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