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National MI and VirPack Expand Partnership to Support Delegated Underwriting
Enhanced integration provides for the delivery of loan files for National MI’s Delegated Assurance Review lender customers MCLEAN, Va. and EMERYVILLE, Calif.,
About this update from Nmi Holdings Inc
[{"type":"text","content":"Enhanced integration provides for the delivery of loan files for National MI’s Delegated Assurance Review lender customers\nMCLEAN, Va. and EMERYVILLE, Calif., March 03, 2020 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), and VirPack, a leading document management and workflow automation solutions provider for mortgage lenders, have expanded their integration to allow loan file content within VirPack to be electronically delivered directly to National MI for the private mortgage insurer’s Delegated Assurance Review (DAR) program, in addition to its non-delegated programs. \n The two companies initially joined forces in 2014 with an interface that enables lenders using VirPack to efficiently transmit loan documents for mortgage insurance underwriting directly to National MI. The new, enhanced integration allows for a smooth and easy delivery process for National MI’s DAR lender customers. “We are excited to expand our partnership with National MI,” said Wayland Pond, VirPack’s COO. “We worked together to build an interface between VirPack and National MI so lenders can use our one-click direct delivery technology with National MI’s DAR program. The automated application offers data and document validation directly within the user interface. Customers are alerted to any missing documents or data on each individual loan file.” “This expanded integration saves our DAR lender customers time, and increases accuracy by automating the process of document delivery,” said Norm Fitzgerald, chief sales officer at National MI. “It was designed to make the document delivery process as easy as possible in all of our underwriting channels.” National MI is the first private mortgage insurer to have an enhanced interface with VirPack that supports delegated underwriting with Independent Validation. By performing a post-closing review on all loans in its DAR channel, National MI’s approach allows for a far smoother process for lenders. Cautionary Note Regarding Forward Looking Statements This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the \"Securities Act\"), Section 21E of the Securities Exchange Act of 1934, as amended (the \"Exchange Act”), and the U.S. Private Securities Litigation R...