![]() ![]() In the competitive mortgage market of 2016, lenders will differentiate themselves through the quality and scope of services they provide, including mortgage insurance. Originators need an MI provider that can meet a broad range of needs with solutions that will help them compete. “With our commitment to real innovation - Arch MI RateStar and Arch Mortgage Guaranty Company, for example - Arch MI has proven itself to be the partner that can transform and expand lending horizons,” David Gansberg, president and CEO of Arch MI, said. That transformation is especially critical for lenders trying to attract Millennials. history, continues to lag behind others in home purchases but is vital to the long-term health of the housing market, so lenders have no choice but to continue to woo them aggressively. Millennials are wary about applying for mortgages because of the recent recession and the job market, which continues to struggle in many parts of the country. ![]() Consequently, this generation is particularly sensitive to the costs involved in a home purchase. “Arch MI can help lenders to meet these expectations and address Millennials’ price-sensitivity with solutions that give them a crucial competitive edge with this segment.” “Conditioned by technology since childhood, they are focused on speed, convenience and service that recognizes their individuality.” “The expectations of Millennials also differ in some ways from their predecessors,” Gansberg said. Click on the links below to view the desired rate sheets which will open a PDF document in a new window. New RateStar, which will roll out in early December, is a prime example of that kind of solution, since the risk-based pricing program takes a more targeted approach than the conventional rate sheets used for decades in the industry. Rate Sheets Arch MI offers both borrower-paid mortgage insurance (BPMI) and lender-paid MI (LPMI) rates. Mortgage insurance premium rates are priced based on each loan’s individual risk attributes and the RateStar model can find unique combinations as well as ranges of difference within those attributes on which to price even more precisely. The result is that RateStar rewards the origination of higher-quality loans, both for the lender and the borrower. “In many cases, our risk-based model enables lenders to reward creditworthy borrowers with lower monthly payments. Please check for state specific rates and availability. ![]() RateStar goes well beyond ordinary industry rate sheets and is able to match Arch MI premium rates precisely to the individual loan, based on the risk represented by the loan,” Gansberg said. Rates are subject to individual state regulatory approval. ![]()
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