Headquartered in Walnut Creek, CA, Arch MI’s mission is to protect lenders against credit risk, while extending the possibility of responsible homeownership to qualified borrowers. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. For more information, visit or call 56.Īrch Capital Group Ltd.’s U.S. The company provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides a variety of 100 percent web-based solutions for lenders, banks, credit unions and conduit aggregators. “Both OpenClose and Arch MI are committed to maximizing value for lenders, which this integration showcases.”įounded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS) mortgage software solutions provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. “Put simply, this integration eliminates manual steps and allows our customers to tap Arch MI’s RateStar solution to price mortgage insurance coverage based on loan risk, which ultimately helps originators offer eligible borrowers the best pricing for their specific loan scenario,” said Vince Furey, senior vice president of lending solutions at OpenClose. Not only will they be able to quickly obtain RateStar quotes from within OpenClose’s multi-channel LOS, the integration will also eliminate the cumbersome re-entry of data and increase their productivity.” “The completion of this RateStar integration means that LenderAssist customers now have access to a more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets. “We are pleased to be the first MI company to partner with OpenClose,” said Chris Hovey, executive vice president and chief operating officer at Arch MI. Live MI pricing is returned in seconds and stored in LenderAssist for future reference. LenderAssist users can then select the best mortgage insurance option for their borrowers and automatically apply the selected Arch MI product and pricing to their loan. As a result of the integration, LenderAssist users can call up RateStar pricing at the press of a button, then view side-by-side comparisons of multiple live Arch MI products and rates. RateStar is a risk-based pricing program that matches Arch MI’s most competitive MI rates more precisely to individual loan risk. ![]() 21, 2017 – Arch Mortgage Insurance Company (“Arch MI”), a leading provider of private mortgage insurance (MI) and a wholly owned subsidiary of Arch Capital Group Ltd., and OpenClose®, a multi-channel loan origination system (LOS) and mortgage software solutions provider, have completed a new integration allowing immediate access to Arch MI RateStar® pricing from within the OpenClose LenderAssist™ LOS. Please tell others about this program and take a minute to share a link to this program with your friends and associates in the mortgage industry.Enhancement provides easy access to Arch MI RateStar within OpenClose LOS David will be talking about the acquisition and its ramifications, as well as sharing his insights on the 2017 mortgage market, the effect of potential deregulation, the crisis in affordability and the automation revolution.Īs normal, the first half of the program will feature, Joe Farr of MBSQuoteline providing a rate & market update, Alice Alvey of Indecomm Global Services providing a regulatory & legislative update as well as Paul Muolo of IMF News & Sam Garcia of Mortgage Daily giving us a quick overview of the latest news stories impacting our industry and Andy Schell, a/k/a “Profit Doctor” sharing ideas on how to improve your bottom line. ![]() For April 17’s “Hot Topic” segment, I’m joined by David Gansberg, President and CEO of Arch MI, which is now the industry leader in the wake of its parent’s acquisition of United Guaranty. What’s ahead for mortgage insurance and the lenders who rely on this important mortgage finance tool? With interest rates rising, a new Administration in place and many changes underway, the MI industry is also undergoing a major restructuring that will impact the housing industry for years to come.
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