EMERYVILLE, Calif., July 16, 2020 (GLOBE NEWSWIRE) -- National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), announced that it is fully integrated with Cloudvirga’s digital mortgage origination platform for retail and wholesale lenders. Mutual customers now have direct access to National MI’s Rate GPSSM through Cloudvirga’s technology platform.
“National MI is very pleased to be joining forces with Cloudvirga,” said Norm Fitzgerald, National MI’s chief sales officer. “The integration reduces the time from application to closing for loan originators, brokers and consumers. National MI continually strives to help make the mortgage process easier for both lenders and borrowers, and this fits in perfectly with that objective.”
Cloudvirga’s software increases transparency, reduces the time it takes to process and close a loan, and helps reduce loan origination costs.
“We are excited to be able to offer originators a seamless and digital pathway to obtain mortgage insurance information from National MI while they are structuring the most optimal loan for the consumer,” said Kyle Kamrooz, co-founder of Cloudvirga.
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default. To learn more, please visit www.nationalmi.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act”), and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the performance of National MI's technology integration. Any or all of our forward–looking statements in this press release may turn out to be inaccurate. More information about the risks, uncertainties and assumptions affecting National MI can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. We have based these forward–looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, operating results, business strategy and financial needs. All forward–looking statements are necessarily only estimates of future results, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements. We do not undertake, and specifically disclaim, any obligation to revise any forward-looking statements to reflect the occurrence of future events or circumstances.
National MI Investor Contact
John M. Swenson
Vice President, Investor Relations and Treasury