California-based private mortgage insurance National Mortgage Insurance has migrated to LPS' MSP servicing platform, to boost its operational efficiency.
By allowing the servicer to report MI billing and disbursements, new loans, cancellations and delinquencies electronically to National MI, the system integration will enable the mortgage insurance to save mortgage servicers time and money.
The migration on the modern servicing technology platform will enable the insurer to automate all areas of loan servicing, such as loan setup and maintenance, customer service, cashiering, escrow administration, investor accounting and default management for servicers throughout the country.
LPS chief information officer Joe Nackashi said, "We appreciate National MI’s trust in LPS’ best-in-class servicing technology to help optimize support for their customers’ MI servicing process."
National MI is headquartered in Emeryville, California, and provides mortgage insurance in 48 states and the District of Columbia.