Lending Leaders
A Better World Through PMI

This week’s guest is a new friend, Nomi Smith, Founder and CEO of PMI Rate Pro. She and Jim Paolino chat about Nomi’s amazing story, her journey into mortgage lending, and her expertise in the world of mortgage insurance.

From Mongolia to Mortgage Banking

Nomi came to America 15 years ago from Mongolia looking for better personal opportunities. She graduated from university, then moved into banking. She was a universal banker and worked her way up to a Licensed Banker. One of her customers was in the mortgage industry and asked Nomi to come work for her.

Tired of the bureaucracy of a big corporation, she went to work for a well-known Kansas City mortgage banker. He mentored her on all things mortgage, mortgage strategy, and mortgage insurance.

In Encompass she quoted each time of PMI individually and wanted something more efficient. So, she started PMI Rate Pro, a better solution for mortgage insurance pricing.

The Case for PMI

Talking people out of 20% or more down because there are better uses for the leftover money. Buying PMI—either monthly or all at once—leaves more options for the money people might have put into their down payment. PMI has the potential to help more people get into homes quickly. Isn’t that the American Dream, after all? Building wealth through homeownership?

Leaving the World Better Than You Found It

How do I leave the world a little bit better than I found it? That’s the question that Nomi asks herself. And her journey into mortgage technology is directly related to answering that question.

She wants to see homebuyers, through lenders, become better educated to use PMI to get into homes sooner. Owning a home is key to building wealth and living the American Dream. And everyone deserves a shot at that. Younger generations shouldn’t have such a tough time owning homes. PMI is one way to ease that burden and improve people’s lives.


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