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Genworth MI Launches Integration With Optimal Blue Product And Pricing Engine; Offers Loan Originators More Functionality Than Competitors

RICHMOND, Va., April 9, 2014 /PRNewswire/ -- Loan officers and other mortgage originators will have easy access to the mortgage insurance industry's broadest guidelines and competitive rates with the launch today of a seamless integration between Optimal Blue® and Genworth Mortgage Insurance, the Raleigh, NC-based unit of Genworth Financial, Inc. (NYSE: GNW).

The integration with Optimal Blue, the mortgage industry's leading and largest product and pricing engine (PPE), makes pricing and information about Genworth mortgage insurance products available to loan officers at approximately 600 additional mortgage lending institutions. These customers now will have the ability to more quickly price loans with Genworth mortgage insurance, which can boost productivity.

"This new integration will provide current and prospective customers with Genworth pricing accuracy, improved ease of use, and operational efficiency," said Erika Stinson, Genworth MI digital channel product manager. "We tested extensively with customers prior to launching this integration to make sure we offered functionality that no other MI company currently can match. Customer feedback has been overwhelmingly positive."

Exclusive functionality of the Genworth MI integration with Optimal Blue lets originators:  

  • Email rate quote results to themselves or others in the origination process, such as a processor or underwriter. Originators can add the borrower name and loan number to the results to ensure MI rate information is tied to the correct loan file, which can help lenders with compliance.
  • View and print results that contain all the loan parameters used to generate the MI quote.
  • See a brief description of each Genworth MI product when the computer cursor hovers over it.
  • Generate a Scenario ID to allow a loan originator to recall a specific Optimal Blue Genworth MI rate quote obtained through Genworth's Rate Express®, and order MI directly from Rate Express.

Optimal Blue's enterprise pricing, point-of-sale, compliance and secondary marketing automation services continue to stretch the boundaries of managed-content productivity tools, according to Larry Huff, Co-CEO of Optimal Blue. Huff said, "Our collective objective was to continue to improve access to information and automate workflow in a way that enhances the lender's and originator's operational efficiencies and improves compliance. We feel we have set a new standard in these two areas." Huff continued, "Working with Genworth MI on this project represents our desire to tackle the tough challenges our customers are confronted with."

Optimal Blue and Genworth MI will co-host webinars for customers to learn more about the integration on April 15, 16 and 17. Customers may register for a webinar beginning April 14 by visiting http://mortgageinsurance.genworth.com.

The integration will allow mortgage loan originators to get direct access – at the push of a button – to Genworth USMI rate quotes, including comparison of Genworth MI rates with Federal Housing Administration coverage. This can reduce the time and simplify the process needed to obtain information about Genworth mortgage insurance rates and eligibility. The Optimal Blue integration also will automatically calculate MI Premium Tax information, where needed.

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