Understanding Mortgage Insurance Options with Arch's Rate Card

As consumers navigate the complex world of home buying, it's essential they have a clear understanding of their options. To achieve this, even borrowers who aren't directly customers of Mortgage Guaranty Insurance Corp (MGIC) benefit from being educated about mortgage insurance products. By providing them with an upfront quote to evaluate, MGIC helps consumers visualize the big picture and make informed decisions.

'We definitely want the borrower to know that MI is an option...that they need to consider in their buying decision,' emphasizes Leslie Malicki, business partner relationship manager at MGIC. This approach sets the stage for a more comprehensive understanding of mortgage insurance, particularly when it comes to Arch Mortgage Guaranty's innovative rate card.

Arch's PreApp 1003 allows loan officers to conduct prequalifications on mobile devices, enabling customers to receive price quotes from Arch and other PMI carriers. The company's challenge lies in educating borrowers about its products and introducing them to alternative offerings that cater to their unique needs.

To achieve this, Arch has implemented a single account manager for each lender, serving as a point of contact and facilitating the creation of custom programs tailored to individual lenders' requirements. This personalized approach allows Arch to better understand lenders' needs and deliver bespoke solutions.

One key differentiator is Arch's separate underwriting subsidiary for portfolio loans, Arch Mortgage Guaranty. By providing mortgage insurance rate quotes directly to loan officers via mobile devices, consumers can access accurate and reliable information quickly, without worrying about significant changes in risk characteristics.

Arch's innovation lies not only in the delivery of rates but also in its approach to mortgage insurance. Unlike other PMI carriers, which rely on granular, loan-level decisions, Arch employs a rate card and pricing matrix strategy. This allows for a smoother transition when combining businesses and sets the stage for future growth.

In conclusion, Arch's rate card is an innovative solution that empowers borrowers with a better understanding of their mortgage insurance options. By providing transparent quotes, personalized service, and bespoke solutions, Arch is poised to differentiate itself in the PMI market.

Arch mi rate card