2019 NOV 08 (NewsRx) -- By a
Within the last year, the industry has experienced a shift in how MI premiums are calculated and quoted to consumers. As a result, MI providers now leverage borrower attributes and scenario-specific loan criteria to calculate risk-based MI premiums. Heavily motivated by their clients’ continuous focus to deliver the best possible pricing to consumers seeking home loans that require mortgage insurance, Optimal Blue worked tirelessly to develop a unique and modern MI quoting experience that enables users to easily and quickly calculate, quote, and compare MI premiums across providers.
Product Specialist at Guaranteed Rate,
Immediately available to clients at no additional cost and requiring minimal setup, Optimal Blue’s BESTX™ MI service is completely configurable to support the user’s existing MI relationships. With one click, clients can generate accurately calculated premiums from a single MI provider or compare them across their complete set of configured MI providers. Optimal Blue sorts the provider’s results from the lowest premium to the highest and highlights the best available result for each financing scenario. Further, Optimal Blue’s BESTX™ MI service enables lenders to choose from and configure available MI premium types, including monthly, split, single premium, and lender paid.
For more than a decade, Optimal Blue has been a loyal advocate and proud partner of the MI industry. As the mortgage industry has evolved, they’ve worked together to support the changing preferences and needs of mutual clients. Optimal Blue’s BESTX™ MI service is a great example of that collaboration. Optimal Blue worked with each of the six MI firms to develop an efficient, one-click workflow for loan officers to quote pricing and structure loans. In doing so, together, they have helped their common lender clients further combat competitive pressures, higher costs, and tighter margins.
“Optimal Blue remains focused on delivering the highest level of price transparency in the mortgage industry,” said
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