Essent Announces Launch Of EssentEDGE
Bermuda-based Essent Guaranty, Inc., a nationwide provider of mortgage insurance [MI] and subsidiary of Essent Group Ltd, announced that EssentEDGE, a new platform supporting a fully integrated pricing engine, will be available for customers on January 21, 2019.
The EssentEDGE platform provides the capability to price more attributes at the loan level, unlike the current rate card pricing structure which is generally based on broad FICO and LTV ranges.
“EssentEDGE aligns with our lender customers’ increasing focus on enhancing their front end and best execution technologies,” said Mark Casale, Chairman and Chief Executive Officer. “Additionally, as managers of long-tail mortgage credit risk, EssentEDGE is another tool that enables us to shape our portfolio to our desired risk and return profile.”
EssentEDGE is available to customers via Essent’s Rate Finder and through most industry pricing engines and loan origination system interfaces. The timing and extent of EssentEDGE pricing availability may be subject to pending regulatory approval in some states. Essent’s current rate card pricing structure is available and will be applied to coverage where EssentEDGE pricing is not yet available.
