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 mortgage technology provider Compass Analytics have announced a new integration that will provide real-time RateStar MI pricing and solutions through CompassPPE, the point-of-sale product, pricing and eligibility engine for mortgage lending.
CompassPPE now interacts directly with Arch MI RateStar so users can take advantage of precise, accurate RateStar pricing and eligibility information at the time of rate lock, improving the ability to provide accurate and complete pricing to borrowers.
Celebrating 10 years as the industrys leading risk-based MI pricing solution, RateStar evaluates a wide variety of loan characteristics to provide the most tailored, complete and precise MI rate. With its integration into CompassPPEs streamlined workflow-driven process, users can get an Arch MI quote while obtaining loan pricing, all without leaving the platform.
The latest RateStar enhancements are available through CompassPPE and include express quotes that require fewer data entry fields and a full menu of applicable MI pricing options.
We are pleased with our successful partnership with Compass Analytics to deliver Arch MIs most competitive rate for each loan, said Carl Tyree, Arch MIs EVP and Chief Sales Officer. Ten years after RateStar transformed the way lenders select MI coverage, weve launched the next generation of RateStar, which incorporates both our decade of risk-based pricing experience and feedback from our customers. With updated RateStars advanced capabilities, loan officers can compete effectively for loans by offering a real point of difference.
We are excited to add Arch MIs RateStar MI quote to our suite of mortgage insurance offerings, said Nancy Pollard, Managing Director of Pricing Technologies, Compass Analytics. Partnering with Arch MI allows us to complete the CompassPPE vision of providing a borrower- and LO-centric workflow incorporating fast, accurate MI quotes into the loan pricing process.
About Arch MI
Arch Capital Group Ltd.s U.S. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in Greensboro, North Carolina, Arch MI’s mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Arch MIs flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, please visit archmi.com.
About Compass Analytics, LLC
Compass Analytics is an innovator in the FinTech industry and a leading provider of pricing technology to lenders. Compass develops cutting-edge analytics and offers advisory and active risk management services to mortgage bankers, traders, investors and banks. Compass Analytics platform is revolutionizing the way home loans are formed and sold through the use of innovative real-time technology supported with services, expertise and guidance. Compass suite of tools includes CompassPoint„¢, CompassPPE„¢, CompassBid„¢, CompassDirect„¢ and CompassCommit„¢.
Arch Capital Services
Greg Hare, 336-333-0416
Margaret Bonaparte, 415-891-4914
Austin Yu, 415-992-9098