Mr. Cooper, the nation’s largest non-bank mortgage servicer, recently announced that it has led the Series A funding round in Matic Insurance Services, a digital insurance agency whose technology helps homebuyers obtain homeowner’s insurance during the mortgage process.
“Buying insurance has long been a cumbersome process for homebuyers, so we’re excited for our licensed insurance agency, Harwood Service Company, LLC to work with Matic to provide customers a better experience,” Jay Bray, chairman and CEO of Nationstar Mortgage Holdings, the holdings company for the Mr. Cooper brand, said in a press release. “Integrating with Matic will help Mr. Cooper offer our customers a simplified insurance process that empowers them with more choice and the opportunity to save money on their homeowner’s insurance premiums.”
Matic’s insurance marketplace is intended to enable Mr. Cooper to provide customers a convenient and modern way to shop for insurance while helping them obtain competitive insurance policy quotes and bind within minutes instead of days, all part of a digital mortgage application interface planned to launch in 2018, the release states.
“Mr. Cooper is one of the largest players in the home loan industry with a strong focus on the customer experience, and we are fully aligned with their mission to make the home buying and refinancing process an easier and better one for borrowers,” Matic CEO Aaron Schiff said. “Mr. Cooper’s customers will benefit from Matic’s ability to expedite loan closings and make it easier for Mr. Cooper to lower their borrower’s payments for improved payment performance.”
The investment and partnership is part of Mr. Cooper’s overall strategy to bring a customer-centric approach to the mortgage industry, the release states. Mr. Cooper has made other investments in its team, technology and processes in an effort to deliver a caring, transparent and seamless experience to customers. The company’s brand name is a key part of its strategy, which it unveiled in August for the mortgage servicing and originations operation of Nationstar Mortgage LLC.