PMI Rate Pro exits: KC fintech calls acquisition the ‘natural next step’ for its mortgage tech solution
May 8, 2025 | Startland News Staff
MIAMI — A strategic acquisition between a software leader and a Kansas City fintech startup brings together two innovators in mortgage tech to deliver the industry’s most comprehensive platform, said Nomi Smith, co-founder of PMI Rate Pro.
LoanPASS on Thursday announced its purchase of PMI Rate Pro, an Overland Park-based fintech specializing in API-driven private mortgage insurance (PMI) pricing technology. Financial terms of the deal were not disclosed.
PMI Rate Pro — one of Startland News’ past Kansas City Startups to Watch — will retain its brand identity and continue operating independently, with Smith at the helm and full support from LoanPASS for its current lender clients and software integrations, she said.
“We built our PMI technology to be modern, flexible, and easy to integrate with LOS, PPE, and POS systems,” the Techstars Kansas City alum and member of the Pipeline Entrepreneurs network added. “Joining LoanPASS is a natural next step. Together, we’re building the kind of connected infrastructure the mortgage industry has needed for years.”
Integrating Smith’s company and its technology is expected to boost LoanPass’s product configuration, pricing, eligibility, and mortgage insurance quoting, giving lenders access to all six national PMI providers through a single API.
The result of the LoanPASS deal: faster, more accurate quotes, reduced manual effort, and better pricing options for borrowers, Smith said.
Both teams are committed to uninterrupted service and will collaborate to further expand platform capabilities and tech partnerships, said Bill Roy, founder and CEO of LoanPASS.
“Together, LoanPASS and PMI Rate Pro deliver a unified system for pricing and mortgage insurance, elevating the lending experience for our customers,” he added. “This integration brings speed, accuracy, and control to the forefront — allowing lenders to manage product pricing and PMI through one modern interface.”
First launched in 2019, PMI Rate Pro’s platform was designed to simplify one of the most fragmented parts of the mortgage process. Instead of building and maintaining six individual PMI integrations, lenders and tech platforms can now connect once to PMI Rate Pro’s single, unified API — saving time and development resources.
Featured Business
2025 Startups to Watch
stats here
Related Posts on Startland News
Looking for nation’s lowest-cost small cities for startups? No. 9’s in the KC metro
A Kansas City suburb finds itself among the top 10 lowest-cost small cities for starting a business, according to a new nationwide report. Raytown, Missouri, lands at No. 9 on the ranking by personal finance website WalletHub — just below Cape Girardeau, Missouri, at No. 8. The rest of the top 10 is filled by…
Merit-based economy is an illusion ripe for AI disruption, talent coop founder says
Organizing Midwest talent to use artificial intelligence and machine learning to combat societal challenges like income inequality could be a powerful tool for a new generation of problem solvers, said Brian Curry. “I truly believe in the possibility of artificial intelligence for changing the way we look at jobs, income, capitalism, poverty, wealth disparity, disease…
Video: Check out 8 elevator pitches from this year’s Sprint Accelerator companies
With a cohort of companies ranging from artificial intelligence to organic ice cream sandwiches, Sprint Accelerator demonstrates its strength by creating an environment where founders and their teams can learn and develop alongside disparate forms of innovation, Doug Dresslaer said. “They’ve all started realizing they can work together — they’re all on the same side,”…
KCultivator: Kemet Coleman urges KC to think progressively, says music kept him alive
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. The KCultivator Series is sponsored by WeWork Corrigan Station, a modern twist on Kansas City office space. From the Royals to slow jams with Mayor Sly James, Kansas City serves as an inspirational force in Kemet…