PHILADELPHIA and MADISON, Wis.,
Nov. 2,
2023 /PRNewswire/ -- CondoTek and Mortgage Guaranty
Insurance Corporation (MGIC), the principal subsidiary of MGIC
Investment Corporation (NYSE: MTG), announced the launch of a
new All-In-One Condominium Compliance solution available through
CondoTek. CondoTek's Condo Project Warrant (CPW) will now
simultaneously validate condominium projects for MGIC underwriting
compliance while still delivering validation for agency policies
and guidelines. CPW Users will now quickly and effectively
understand if a condominium project qualifies for Fannie Mae and or
Freddie Mac financing and MGIC's private mortgage insurance
products. As a value-add, the MGIC Compliance validation is
delivered at no additional cost to CondoTek's CPW.
"CondoTek is excited for this new opportunity to add value to
our customer community. It is a natural relationship because MGIC
and CondoTek are both focused on technology and
automation
leading the industry to provide better, more cost-effective
solutions for mortgage lenders and
their consumers," said Asher Kahn,
CEO of CondoTek.
"Fundamental to MGIC's success
for 65 plus years is our steadfast focus on customers and
offering solutions to simplify
the loan process for them. We are thrilled
to partner with
CondoTek on this solution," said Danny Garcia-Velez, Senior Vice-President of Sales and
Business Development at MGIC.
About CondoTek CondoTek (www.condotek.com) is a
technology and information firm that leverages unique expertise in
Technology and Real Estate to streamline the lending process in the
condominium space. Combining technology with exceptional service
and support, CondoTek creates the ultimate efficiency in the
approval and underwriting of condominium loans for lenders of any
size.
About MGIC Mortgage Guaranty Insurance Corporation (www.mgic.com), the principal
subsidiary of MGIC Investment Corporation, serves lenders
throughout the United States,
Puerto Rico,
and other locations helping families achieve
homeownership sooner by making affordable
low-down-payment mortgages a reality through the use of private
mortgage insurance.
Media Contact:
Mike Murray
Strategic Vantage Marketing & Public Relations
(240) 498-0863
MikeMurray@StrategicVantage.com
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SOURCE CondoTek