![]() Investor interest in the deal was incredibly strong, he added, “as reflected in tighter credit spreads and a lower attachment compared to Bellemeade 2020-1. Jim Bennison, executive vice president, alternative markets for Arch MI, said: “Investors have gotten much more comfortable with mortgage credit risk over the past several months as the effect of COVID-19 on the housing market becomes clearer. There are also $128 million class M-1C notes with a coupon equal to one-month Libor plus 400 bps, $89.8 million class M-2 notes with a coupon equal to one-month Libor plus 600 bps and nearly $18 million class B-1 notes with a coupon of one-month Libor plus 850 bps.Īn additional $25.7 million was placed with a panel of reinsurers. For more information, please visit MILN is funding its reinsurance obligations through the issuance of five classes of amortising notes with 10-year legal final maturities.The deal includes just under $92 million class M-1A notes with a coupon equal to one-month Libor plus 230 basis points, and $95.5 million class M-1B notes with a coupon of one-month Libor plus 320 bps. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia, and Puerto Rico. Updated Weekly Arch Global Chief Economist Parker Ross and Director of Real-time Inheritance Economics Leonidas Mourelatos cover the week’s page in the U.S. 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. Discover Arch Mortgage Assurance Company (Arch MI), a leading provider of private mortgage travel (PMI) related and services, based in Greensboro, North Carolina. 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. Enhancement provides easy access to Arch MI RateStar within OpenClose LOS
0 Comments
Leave a Reply. |