Richmond, Virginia-based Genworth Mortgage Insurance, has announced an enhanced integration with Ellie Mae’s Encompass digital mortgage solution to include a new functionality for contract underwriting services. The enhancement allows lenders to submit loan applications directly through the Encompass interface for contract underwriting with or without mortgage insurance, adding a new offering for customers who use both the Genworth and Encompass solutions.
“Integrating contract underwriting into the Genworth-Encompass workflow expands our multi-solution offering and extends our expertise in another key area to all our customer segments,” said Erika Martin, Director, Customer Experience and Segment Marketing, Genworth Mortgage Insurance. “This expanded partnership, against the backdrop of our best-in-class underwriting capabilities, advances our goal of driving innovation to facilitate homeownership opportunities for new and existing homeowners.”
Additional features from the integration include:
- Ease of use for lenders, further supporting our customers’ use of contract underwriting to reduce origination cost and support underwriting capacity needs
- Ability to order contract underwriting and upload associated documents while staying within Encompass
- Mortgage insurance commitments and contract underwriting decisions provided through Encompass as downloadable PDF files
- Submission of loans for contract underwriting with or without mortgage insurance
The Encompass integration enhancement at Genworth is the latest in a series of initiatives that leverage technology to improve the underwriting process. In 2017, Genworth launched a new website, new.mi.genworth.com, that allows loan officers, underwriters, processors and other lending professionals to visually track every part of the mortgage insurance application process through close.
“Genworth’s technological ecosystem has meaningfully improved to where all of the individual technology-oriented solutions that have been created over the years are increasingly compatible with each other,” said George Reichert, Chief Information Officer, Genworth Mortgage Insurance. “We view this as a tremendous positive in our efforts to drive innovation.”