Managing Mortgage Insurance Special Report.(PMI Mortgage Insurance)(Brief Article)

PMI Mortgage Insurance Co. here has made an enhanced version of e-PMI servicing available to lenders over the Internet and secure electronic connections.

John Jelavich, PMI's assistant vice president for policy servicing/structured transactions, said that the next generation of e-PMI will provide lenders with a fast and reliable means to access PMI's insurance policy servicing systems. It will allow customers to see a concise display of the policy information that is important to them with a streamlined ability to make changes, he said.

He said the website basically enables our servicing partners to perform a lot of the certificate maintenance on their PMI loans themselves, a process that not only speeds up the process but also reduces exceptions, Mr. Jelavich said.

Historically, for a customer to change a mortgage insurance policy, they needed to fax changes in or send them in the mail. That required a waiting period of days to weeks before they received confirmation that the change had been made.

With the online connection, lenders can update loan numbers, adjust borrower first payment dates, and make other corrections and be confident that every bill they get going forward will be correct. Lenders can also use the system to notify PMI of servicing transfers or purchases.

"There are efficiency gains for both parties. If we can give our customers a tool to eliminate exceptions, it is certainly good for them and good for us," Mr. ...