Arch MI Unveils Program To Advance Risk-Based Pricing In Mortgage Insurance

Posted by Patrick Barnard on October 20, 2015 No Comments
Categories : Residential Mortgage

Arch Mortgage Insurance Co. (Arch MI), a provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd., has introduced Arch MI RateStar, the company's new risk-based pricing program.

RateStar uses a mixture of loan characteristics and other risk factors to determine the premium rate for each loan. The program is expected to be available in the fourth quarter.

‘RateStar provides a more targeted approach than the conventional rate sheets used for decades in the industry. Instead of loans being grouped in large risk buckets, each loan will be priced based on its individual risk attributes,’ says David Gansberg, president and CEO of Arch MI.

According to the company, this program enables lenders to compete more effectively, seek out opportunities and open up new markets.

‘RateStar will not require any new data attributes, so the transition to RateStar will be seamless and easy for lenders,’ continues Gansberg. ‘With its intuitive design and ready access, our customers will find RateStar is an easy-to-use tool to access competitive mortgage insurance rates.’

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