New integration supports mutual lender customers
RADNOR, Pa., Nov. 18, 2021 – Essent Guaranty, Inc., a nationwide provider of mortgage insurance (MI) and subsidiary of Essent Group Ltd. (NYSE: ESNT) announced today they have partnered with OpenClose, a leading fintech provider and developer of enterprise-level mortgage lending software, to offer Essent’s products and services through their LenderAssist™ loan origination system (LOS).
“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, Vice President 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.”
OpenClose’s suite of digital lending solutions now seamlessly connect with Essent to return EssentEDGE rates in seconds, automates the MI certification workflow and grants lenders improved tools to manage their Essent products and services.
“One of our primary goals at OpenClose is to reduce the number of manual tasks lenders perform while also continually improving the user experience,” said Vince Furey, CRO at OpenClose. “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.”
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) which, through its wholly-owned subsidiary, Essent Guaranty, Inc., offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermuda-based subsidiary, Essent Reinsurance Ltd. Essent is committed to supporting environmental, social and governance (“ESG”) initiatives that are relevant to the company and align with the companywide dedication to responsible corporate citizenship that positively impacts the community and people served. Additional information regarding Essent may be found at www.essentgroup.com and www.essent.us.
Founded in 1999, OpenClose is the preeminent fintech provider that developed the mortgage banking industry’s first SaaS-based lending automation software platform. Today, the company has expanded to become an award-winning, comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40 percent, reduces processing and underwriting cycle times by up to 50 percent, and requires minimal support to install and manage. OpenClose is the only vendor in the industry able to offer a true end-to-end, omni-channel, 100 percent browser-based, workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device. For more information, visit https://www.openclose.com.
Media Contact for Essent:
Investor Relations Contact for Essent:
Christopher G. Curran
Senior Vice President – Investor Relations
Profundity Communications, Inc. for OpenClose: