Industry NewsMortgage

LPS automates PMI orders

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Real estate data and technology company Lender Processing Services, Inc. has launched what it says is a new model for ordering private mortgage insurance. LPS now allows lender customers to place automated orders for private mortgage insurance from a variety of carriers through its LPS Loan Quality Gateway, which is powered by LPS subsidiary RealEC Technologies. The platform connects to more than 15,000 mortgage industry providers, now including several private mortgage insurance carriers such as United Guaranty, MGIC, Genworth, Essent Guaranty, Inc. and Radian, among others. Through the platform, lenders can access these carriers and order rate quotes, eligibility and rate quote checks, and mortgage insurance certificates.The LPS Loan Quality Gateway is a "strategic component" of the company's initiative to grow its origination technology, the Jacksonville, Fla.-based company said. Fannie Mae and Freddie Mac require private mortgage insurance when borrowers are making down ...