Private mortgage insurer to provide lenders with automated pre-application mortgage insurance estimates, allowing loan officers to deliver fast and accurate quotes to borrowers
Emeryville, CA (GLOBE NEWSWIRE) - National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), announced that it is now fully integrated with Tyltest’s automated estimate tool, Lightning Estimates, which creates accurate mortgage estimates that can be completed in minutes. National MI is one of the first private mortgage insurers to integrate with Lightning Estimates.
Lightning Estimates is a web-based application that offers a fast, efficient way for loan officers to compare mortgage insurance rates, pull title and government fees, and automatically include standard lender fees that they can provide in estimates to their borrower customers.
“The Lightning Estimates application provides lenders with accurate mortgage insurance rate quotes in the early stages of the loan process, before the borrower has made a decision, which makes it a particularly valuable tool,” said Norm Fitzgerald, senior vice president, national field sales for National MI. "It’s also easy to use and saves loan officers time, so it fits perfectly with our mission to deliver a better mortgage insurance experience for our clients.”
Tyltest was founded by Tyler Satre, a former loan officer who saw a need for a tool that would provide accurate mortgage estimates to borrowers so they could compare multiple loan scenarios. “The National MI integration helps lenders gain access to faster, more reliable mortgage insurance quotes,” Satre said. “I share National MI’s interest in helping lenders and loan officers save valuable time for both themselves and their customers, and I’m proud to partner with a company that embraces technology to make it happen.”
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default. To learn more, please visit www.nationalmi.com.
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 Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the performance of National MI's technology integration. Any or all of our forward–looking statements in this press release may turn out to be inaccurate. More information about the risks, uncertainties and assumptions affecting National MI can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. We have based these forward–looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, operating results, business strategy and financial needs. All forward–looking statements are necessarily only estimates of future results, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
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