Essent Announces New Integration with OpenClose®
November 18 2021 - 8:00AM
Business Wire
New integration supports mutual lender
customers
Essent Guaranty, Inc., a nationwide provider of mortgage
insurance (MI) and subsidiary of Essent Group Ltd. (NYSE: ESNT)
announced today they have partnered with OpenClose, a leading
fintech provider and developer of enterprise-level mortgage lending
software, to offer Essent’s products and services through their
LenderAssist™ loan origination system (LOS).
“We are pleased to seamlessly integrate with OpenClose’s lending
software solution to provide direct and real-time access to our
pricing engine, EssentEDGE®,” said Kendra Placek, Vice President of
Customer Experience and Innovation at Essent. “Our new integration
with OpenClose creates efficiencies for our mutual customers and
leverages our engine’s proprietary risk metrics and advanced
analytics to offer our best MI pricing for the borrower.”
OpenClose’s suite of digital lending solutions now seamlessly
connect with Essent to return EssentEDGE rates in seconds,
automates the MI certification workflow and grants lenders improved
tools to manage their Essent products and services.
“One of our primary goals at OpenClose is to reduce the number
of manual tasks lenders perform while also continually improving
the user experience,” said Vince Furey, CRO at OpenClose. “The
integration between our LenderAssist LOS and EssentEDGE ensures MI
accuracy, accelerates the mortgage insurance process and ultimately
provides an extremely efficient workflow for our mutual
customers.”
About OpenClose: Founded in 1999, OpenClose is the
preeminent fintech provider that developed the mortgage banking
industry’s first SaaS-based lending automation software platform.
Today, the company has expanded to become an award-winning,
comprehensive loan origination software suite that slashes the cost
to manufacture loans by up to 40 percent, reduces processing and
underwriting cycle times by up to 50 percent, and requires minimal
support to install and manage. OpenClose is the only vendor in the
industry able to offer a true end-to-end, omni-channel, 100 percent
browser-based, workflow-driven platform that effectively
consolidates the digital POS, LOS, PPE and BI functions via a
single provider, with easy access from any browser or mobile
device. For more information, visit https://www.openclose.com.
About Essent: Essent Group Ltd. (NYSE: ESNT) is a
Bermuda-based holding company (collectively with its subsidiaries,
“Essent”) which, through its wholly-owned subsidiary, Essent
Guaranty, Inc., offers private mortgage insurance for single-family
mortgage loans in the United States. Essent provides private
capital to mitigate mortgage credit risk, allowing lenders to make
additional mortgage financing available to prospective homeowners.
Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is
licensed to write mortgage insurance in all 50 states and the
District of Columbia, and is approved by Fannie Mae and Freddie
Mac. Essent also offers mortgage-related insurance, reinsurance and
advisory services through its Bermuda-based subsidiary, Essent
Reinsurance Ltd. Essent is committed to supporting environmental,
social and governance (“ESG”) initiatives that are relevant to the
company and align with the companywide dedication to responsible
corporate citizenship that positively impacts the community and
people served. Additional information regarding Essent may be found
at www.essentgroup.com and www.essent.us.
Source: Essent Group Ltd.
OpenClose® is a registered trademark of OpenClose. LenderAssist™
is a trademark of OpenClose.
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version on businesswire.com: https://www.businesswire.com/news/home/20211118005227/en/
Media Contact 610.230.0556 media@essentgroup.com
Investor Relations Contact Christopher G. Curran Senior
Vice President – Investor Relations 855-809-ESNT
ir@essentgroup.com
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