Mortgage insurers got a case of the summertime blues in July as the net volume o f primary mortgage insurance written on newly originated one-to-four family conventional m ortgage loans fell by $205 million. The Mortgage Insurance Companies of America reported $11.4 billion in net insurance written. Net certificates issued were 99,253, a 2.5% decrease from Jun e. MICA also reported new mortgage pool insurance written totaled $1.21 billion, a 14.1% decr ease.
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The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables. The root of the problem is that most suppliers rely on a manual approach to processing e-mailed virtual card payments. Suppliers are forced to balance their organization’s need for operational efficiency and control with rising customer demand to pay with a virtual card. But a new breed of technology enables suppliers to process virtual card payments straight-through, addressing the needs of buyers and suppliers. This paper details the growth of electronic business-to-business (B2B) payments, shows how manual approaches to processing virtual card payments cause friction in accounts receivables, describes a way to process virtual card payments straight-through, and highlights the benefits of frictionless payments.