PCLender.com Completes Private Mortgage Insurance Integration with PMI and CMG MI

LOS data transfer speeds and streamlines process, supports compliance, eliminates errors

(September 29, 2008) Honolulu, HI - PCLender.com, a fully hosted web based software and services solutions provider to mid-sized mortgage bankers and financial institutions, has completed the integration of its In-House Mortgage enterprise lending platform with private mortgage insurers The PMI Group, Inc. (PMI) and CMG Mortgage Insurance Company (CMG-MI).

PCLender.com provides its enterprise mortgage lending platform and expert services via the software as a service (SaaS) model, allowing lending operations to focus on marketing, quality originations and customer service. The PCLender.com/PMI/CMG MI integration enables a complete transfer of required data from the origination platform directly into the insurers' rate quote and application portals, eliminating the time required by and inherent risk of rekeying previously validated information.

"Private mortgage insurance is one of a lender's best allies for reducing risk and ensuring quality business practices," said PCLender founder and CEO Lionel Urban. "As new compliance guidelines and related industry best practices emerge, we want our current and future customers to have the tools they need to increase efficiency and accuracy when ordering private mortgage insurance."

According to Urban, PCLender.com's integration with the dominant private mortgage insurance providers not only broadens the technical functionality of its InHouse Mortgage enterprise lending platform, but also further narrows avenues of error and risk in the mortgage lending continuum..

"PMI's integration with PClender.com is another example of our commitment to provide our customers with excellent service online that is easy to use," said Dan Roberts, Executive Vice President and Chief Information Officer for The PMI Group. "PCLender.com's transparent integration eliminates the need to re-key data, which streamlines the mortgage insurance ordering process for our customers. Implementing our rate quote service and our mortgage insurance ordering service with PCLender enhances our customer's entire interaction with PMI."

"The PClender.com integration is exciting because, in addition to providing customers the ability to order mortgage insurance through an easy-to-use interface, it also allows them to obtain an exact rate quote for mortgage insurance that can be used for their disclosures prior to ordering MI," said Scott Romesburg, CMG MI's Director of Information Technology. "At this time, few loan origination systems provide this integrated functionality. By implementing this rate quote feature, PCLender has ensured that their customers have the best possible MI functionality available."

Changes to mortgage insurance application requirements or processes will immediately be accommodated by the transparent integration, ensuring the conformity of PCLender.com customer applications.

"Connectivity is an important issue for credit unions and CMG MI is pleased to be working with PCLender.com to develop this convenient business solution," said Kathy Schroeder, CMG MI's Senior Vice President and General Manager. "By streamlining and automating a standard mortgage lending process, such as requesting quotes for and ordering private mortgage insurance from CMG MI, PCLender.com has helped improve efficiencies and turnaround times for our customers."

PMI Mortgage Insurance Co. (PMI US), a subsidiary of The PMI Group, Inc. (NYSE: PMI), provides residential mortgage insurance to mortgage lenders, capital market participants, and investors throughout the United States. PMI US is incorporated in Arizona, headquartered in Walnut Creek, CA, and licensed in all 50 states, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. By mitigating default risk, residential mortgage insurance expands home ownership opportunities and assists financial institutions in reducing the capital they are required to hold against low down payment mortgages. For more information: http://www.pmi-us.com

Licensed in all states, CMG Mortgage Insurance Company (CMG MI) operates as a corporate joint venture between CUNA Mutual Investment Corporation and PMI Mortgage Insurance Co. The company provides private mortgage guaranty insurance to protect credit unions against potential losses in the event of borrower default. By covering default risk on residential first mortgage loans, CMG MI facilitates the sale of low-down-payment mortgages in the secondary mortgage market and expands homeownership opportunities by enabling credit union members to buy a home with a down payment of less than 20 percent. For more information, visit www.cmgmi.com or call (800) 909-4264

Honolulu-based PCLender.com (www.PCLender.com) has for more than a decade helped mortgage bankers accelerate business performance goals through technology-enabled best practices guidance, services and solutions. PCLender InHouse Mortgage is a fully hosted enterprise mortgage lending platform that eliminates traditional "barriers to entry" for mortgage bankers, community banks and credit unions seeking business process improvements on par with the Fortune 500. For more information about PCLender contact Lionel Urban at Lurban@PCLender.com