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MGIC Offers Web-Based Rate Provider for Lenders

Lenders now have an easy way to check mortgage insurance rates with the nation's largest private mortgage insurer, Mortgage Guaranty Insurance Corporation (MGIC).

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Teaming up with Mortech, Inc., a technology provider for the mortgage industry, MGIC enables lenders to check rates through its new web-based offering, MarksmanLMP.

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Lenders can review general rate quotes and incorporate adjustments based on specific loan qualities, ultimately leading to ""a faster loan closing process and increased profitability,"" according to a press release from MGIC.

""Seamless access to MGIC's competitive mortgage insurance rates through MarksmanLMP enables our customers to streamline their loan origination processes,"" said Sal Miosi, VP of marketing at Minnesota-based MGIC.

The company also mentioned that MarksmanLMP will be followed by additional technology offerings in the mortgage insurance space.

""Automating more of the process of originating a loan is critical to making the loan officer of the future more efficient and effective, for both the mortgage company and the homeowner,"" said Don Kracl, president of Mortech.

""We are very proud of the work we have accomplished in conjunction with MGIC. This is another step forward for the industry and one less thing loan officers need to worry about as they go about the business of serving American borrowers,"" Kracl said.

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