Home >> Headlines >> Risk-Based Pricing Tool Now Available on Digital Platform
Print This Post Print This Post

Risk-Based Pricing Tool Now Available on Digital Platform

National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc., announced that lenders using Tavant VELOX’s FinConnect integration platform for the financial services industry can now access Rate GPS, National MI’s unique risk-based pricing tool, when pricing private mortgage insurance products. 

The FinConnect intelligent data and services hub connects more than 120 product and service providers in the mortgage production cycle to provide lenders with a digital-mortgage production experience. Over the past few months, Tavant and the California-based National MI collaborated to build new features within FinConnect’s private mortgage insurance rate connector that support risk-based mortgage insurance pricing. 

As a result, lenders using FinConnect can now access Rate GPS, National MI’s risk-based pricing platform, which assesses a variety of loan characteristics to more closely align NationalMI’s premium rates to the risk associated with individual loans. 

“National MI is very pleased that Rate GPS is now an option for lenders on the FinConnect platform, which gives lenders a seamless, digital experience when pricing mortgage insurance,” said Mike Dirrane, Chief Sales Officer and Senior Managing Director with National MI. “By having access to risk-based pricing through FinConnect, lenders have even greater opportunities to save time and money in the loan origination process.” 

“National MI’s products and first-class technical talent have made them a perfect partner with which to work,” said Mohammad Rashid, VP, head of consumer lending and capital markets practice, Tavant. “Adding its groundbreaking Rate GPS to FinConnect gives our clients more private mortgage insurance options than ever, while helping them further reduce loan production costs. We are delighted to be working together.” 

Tavant, a leading provider of technology products and solutions for the lending industry, has worked with National MI for six years. In 2015, National MI named Tavant a preferred technology provider.

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
x

Check Also

Analyzing HUD’s Proposed Revisions to Fair Housing Rule

While there are those that seem to agree that local zoning laws impede affordability, to some, the issue is a partisan one.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.