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Essent and OpenClose Partner on MI Solution

Essent Guaranty Inc. has announced a partnership with OpenClose, a fintech provider and developer of mortgage lending software, to offer Essent’s products and services through their LenderAssist loan origination system (LOS).

Through the agreement, OpenClose’s suite of digital lending solutions will seamlessly connect with Essent to return EssentEDGE rates in seconds, automating MI certification workflow, and granting lenders an enhanced set of tools to manage their Essent products and services.

“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, VP 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.”

Vince Furey, CRO at OpenClose, added, “One of our primary goals at OpenClose is to reduce the number of manual tasks lenders perform while also continually improving the user experience. 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 Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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