FICS Automates MI Communication

Financial Industry Computer Systems Inc., Dallas, has added a new mortgage insurance interface to its residential mortgage loan origination system, Loan Producer.The mortgage insurance interface enables lenders to quickly and easily submit data to receive mortgage insurance commitments and updates for primary insurance request, FICS said. The interface is designed to provide lenders using the Loan Producer system with a means to send mortgage insurance applications directly from Loan Producer to any MI provider that offers a Web service that complies with the Mortgage Insurance Application Request and Response requirements of the Mortgage Industry Standards and Maintenance Organization. Mortgage insurance providers will then automatically process the request and send status updates, along with the commitment and certificate of insurance, back to Loan Producer. FICS can be found on the Web at http://www.loanware.com.