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Technology Updates
e-cmgmi Accepts Non-Delegated Business Starting April 4
Effective April 4, 2009, CMG MI’s online origination and servicing system, e-cmgmi, accepts non-delegated mortgage insurance (MI) requests as well as delegated business. This means that even if your Credit Union is not currently a delegated customer, you can still enjoy the ease and convenience of submitting your MI request online to CMG MI.
All you need is a user ID and password for e-cmgmi. Contact your CMG MI Account Executive to get started.
Learn more about submitting your loans through e-cmgmi – both data and document images -- by reading our flyer.
Order MI using PCLender InHouseMortgage® – CMG MI's Latest Connectivity Option
CMG MI is pleased to announce more connectivity for our Credit Union customers! Users of PCLender InHouseMortgage – a popular industry loan origination platform – can now obtain a rate quote from CMG MI for their disclosures, order CMG MI mortgage insurance (MI) and get status updates on their delegated MI orders directly from their loan origination system using an XML interface.
Customers can order using multiple master policies and the MI certificate of insurance can be stored in PCLender to be accessed by the Credit Union at any time.
Documentation on this new interface can be found at www.pclender.com.
Questions about setup? Contact your PCLender vendor.
CMG MI Updates Payment Estimator to Include 12/15/08 Rate and Guideline Changes
The popular Payment Estimator now incorporates the rate and guideline changes scheduled to become effective December 15, 2008, pending state approvals.
Other key changes include:
- A FICO® score is now required for calculating the estimate. If an actual FICO score is not available, you may enter an estimated FICO score in the appropriate field.
- The checkbox menu for adjustments has been expanded. You can receive estimated rates when available for:
- Investor
- Second Homes
- Manufactured Housing
- Cash-Out Refi
- Rate/Term Refi
- If Cash-Out Refi and Rate/Term are both selected, the Cash-Out Refi adjustment only will be applied
- On the Comparison Results page, the adjustments applied now appear with the loan data at the top of the screen, providing a more complete picture of the Member’s options.
- The P&I w/MI comparisons show the difference between P&I with MI using a financed Single Premium product with the P&I with MI for other displayed products
- When a Single Premium rate is not available, a comparison cannot be provided.
PLUS – Try Our Claim Comparison Feature!
We’ve added a Claim Comparison feature that allows you to see how CMG MI mortgage insurance can help protect your Credit Union from the full exposure should a mortgage loan go to Claim.
To use the Claim Comparison, go to the Payment Estimator. After completing the required fields and reviewing the Comparison results, click on the Claim Example button.
You will then see a comparison of how the selected mortgage insurance products and financing options may impact your Credit Union should the borrower default.
- Create what-if scenarios that quantify the value of MI to your Credit Union in a claims situation
- Compare loans with mortgage insurance against loans financed by second mortgages
Start Using the Updated Payment Estimator Today!
* Please note: Rates displayed by the Payment Estimator are only approximate and should not be used to process a mortgage loan with mortgage insurance. Estimates produced by the Payment Estimator do not guarantee that CMG MI will provide mortgage insurance coverage. CMG MI’s Rate Quote provides accurate, up-to-date CMG MI rates and should be used to process mortgage loans insured by CMG MI.
CMG MI Updates Rate Quote
Quote. Compare. Order. It’s Easier than Ever!
On November 17, 2008, CMG MI releases its updated version of the Rate Quote tool. The data entry screen will now feature the following changes:
- Data entry fields will be organized into three categories: Property, Loan and Mortgage Insurance
- Required fields will now be indicated by an asterisk
These minor changes should make it easier than ever to use CMG MI's Rate Quote, the convenient online tool that allows you to select the best mortgage insurance plan for your Member and order it right away!
Credit Unions Can Order MI using FICS Loan Producer for Windows®
A new interface for users of FICS Loan Producer for Windows allows you to connect to our e-cmgmi system quickly and easily.
Please note that CMG MI is integrated into the latest version of the Loan Producer for Windows software. Please check with your FICS vendor to make sure that you have the correct version.
To obtain your CMG MI account credentials and URLs and to provide your source IP address, contact Simon Attwood at (800) 288-1970, ext. 6202 or simon.attwood@pmigroup.com. If you are using the postback method, you will also need to provide postback information.
Order MI using Fiserv® EasyLender – CMG MI’s Latest Connectivity Option
Users of Fiserv EasyLender –a popular industry loan origination platform – can now connect to our e-cmgmi system.
By continually working to broaden our connectivity throughout the mortgage industry, CMG MI fulfills our commitment to helping customers improve their turnaround times and lower their costs – so these savings in time and money can be passed on to Members.
Please note that CMG MI is integrated into the latest version of the EasyLender software. Please check with your Fiserv vendor to make sure that you have the correct version.
To obtain your CMG MI account credentials and URLs and to provide your source IP address, contact Simon Attwood at (800) 288-1970, ext. 6202 or simon.attwood@pmigroup.com. If you are using the postback method, you will also need to provide postback information.
Order MI Certificates through Interlinq® E3 – CMG MI’s Latest Connectivity Option
CMG MI customers now have another option for ordering mortgage insurance. A new interface allows Harland Financial Systems’ Interlinq E3, a leading industry platform, to connect to CMG MI.
This is just the latest example of CMG MI’s commitment to improving efficiencies and convenience in online delivery for our customers. CMG MI will continue to work on developing interfaces with other platforms in order to support the specific needs of Credit Unions.
For information on how to configure your Interlinq E3 application servers to order MI from CMG MI, please download the instructions here (148 KB/15 pages).
Fannie Mae® Discontinues MI Service;
e-cmgmi Ready to Support Credit Unions
On February 28, 2007, Fannie Mae retired its DU ConnectionsTM and the MI Service from its widely used Desktop Underwriter® automated underwriting tool. Credit Unions have been asked to prepare their transition to an alternative MI service.
CMG MI recommends that our credit union customers transfer to e-cmgmi, if it is not already embedded within your credit union’s loan origination system. Our e-cmgmi system is one of the easiest and fastest ways to order mortgage insurance, as well as perform servicing functions on insured loans. Contact your CMG MI Account Executive for more information, and to get set up with a user ID and password.
Order Your CMG MI Policies Directly Through Mortgage Builder
In December 2006, CMG MI completed our integration with Mortgage Builder Software, Inc. Mortgage Builder is a Windows-based software package designed to be a complete mortgage lending solution for lenders and credit unions. The system facilitates the processing, closing and underwriting of all loan types for both wholesale and retail production.
Customers may now order their mortgage insurance policies from CMG MI by using the Mortgage Builder application. To service policies submitted through Mortgage Builder, please continue to use CMG MI’s industry-leading, online policy servicing system e-cmgmi.com.
Use the Fidelity Platform to Activate Your CMG MI Policies
Now servicing your CMG MI policies has become even easier for Credit Unions. One of the leading providers of technology solutions and services for mortgage servicing needs, Fidelity National Information Services, has modified its mortgage servicing platform to allow CMG MI customers to accept policy activations by customers on all types of loans.
In addition, customers are able to use the Fidelity MSP to perform billing functions and automated delinquency reporting. For more information, contact your CMG MI Account Executive.