MGIC Announces Partnership with Savana, Inc.

MILWAUKEE, May 16, 2017 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (NYSE: MTG), the nation's first private mortgage insurer, announced today the availability of mortgage insurance through Savana, Inc.'s Loan Origination System (LOS), nGage / Mortgage.

Through the MISMO-based integration, nGage / Mortgage customers can order MGIC rate quotes as well as order delegated and non-delegated mortgage insurance. This integration – unique to Savana and MGIC – also helps customers simplify the non-delegated process by allowing them to submit loan documents to MGIC without leaving the platform. This automation of data exchange helps improve the loan origination process by saving time and increasing accuracy.

"We are excited to partner with MGIC to offer our mutual customers an improved experience in ordering rate quotes and delegated/non-delegated mortgage insurance underwriting. The nGage platform provides the lender a seamless experience in ordering services from MGIC, improving data integrity and reducing time to loan approval," said Savana, Inc.'s Senior Vice President of Product Management, Laurel Quigley.

"Our integration with Savana, Inc. addresses the growing demand for automation in the loan origination process and demonstrates our continued commitment to offering these solutions to our customers," said Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC.

About MGIC

MGIC, the principal subsidiary of MGIC Investment Corporation, this year celebrates 60 years of serving the mortgage finance industry. As the founder of modern private mortgage insurance, MGIC is committed to providing products and services that make originating affordable low-down-payment mortgages safer for the financial institutions served. Fulfilling this vital role helps families achieve homeownership sooner. At April 30, 2017, MGIC had $184.3 billion of primary insurance in force covering approximately 1 million mortgages.

About Savana, Inc.

Savana, Inc., headquartered in Malvern, Pennsylvania, is a software company focused on delivering advanced automation solutions to the mortgage, retail banking and payments industries. Since its founding in 2009, Savana has delivered mission critical applications to some of the largest financial institutions and FinTech resellers in the United States.

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SOURCE MGIC Investment Corporation