PMI Mortgage Insurance, the primary subsidiary of The PMI Group, has introduced the next generation web-based tool that allows users to obtain rate quotes and compare multiple mortgage insurance payment plans in one step.
According to the company, RateQuote 2.0 offers up to five payment option comparisons at one time and provides a seamless transition to the e-PMI Origination system, where a mortgage insurance application can be submitted for underwriting with one click.
Other features include identifying properties located in distressed markets and providing a detailed error message when a rate is not available.
Jesse Rivera, vice president of marketing operations at PMI Group, said: Mortgage insurance is not a one-size-fits-all product, and we want to give our customers a tool that allows them to easily identify the best rate and payment plan for their borrowers. The integration of our Rate Quote and e-PMI Origination systems allows us to continue providing a high level of service to our customers.