![]() ![]() HW: What drives Arch MI to continue to innovate with MI product offerings?ĬT: At Arch MI, we’re deeply committed to innovation that increases origination opportunities for lenders. With RateStar Buydown, lenders have a tool that can help them avoid losing those qualifying loans to a competitor. Both margins and volume have been declining, so every loan that qualifies is more important than ever. HW: What reaction have you gotten from lenders?ĬT: What we’ve been hearing the most is that Arch MI couldn’t have picked a better time to introduce RateStar Buydown. Overall, RateStar Buydown offers something the competition can’t beat: a loan solution tailored to each borrower’s needs. Lowering the premium payments means more loans can meet DTI requirements - making the lender more competitive. Using RateStar Buydown, lenders can now create the perfect combination of upfront and monthly payments for individual borrowers. Mortgage originators are operating as efficiently as they can, but with margins and volumes declining, it will be difficult for some lenders to meet their financial targets.Ĭompetitive pressure is one reason that mortgage insurance (MI) is now at the forefront of so many transactions - it can truly make a difference for the borrower.Īrch MI created this unique new tool that’s similar to a rate buydown and allows you to customize your borrower’s MI premium to an exact dollar amount.ĬT:We took RateStar - our very popular risk-based pricing solution- and gave it even more flexibility with a new feature that enables lenders to use seller incentives, lender credits and borrower funds to buy down their borrower’s MI premium to an exact dollar amount.Īs a dynamic pricing solution, RateStar provides competitive MI rates that are tailored to individual buyers based on a variety of loan characteristics. HousingWire: What prompted Arch MI to create RateStar Buydown?Ĭarl Tyree: Without a doubt, the biggest challenge for our clients is margins. We interviewed Carl Tyree, executive vice president and chief sales officer at Arch MI, to find out how Arch MI’s RateStar Buydown is making a difference for its lender clients. Margins are compressed across the mortgage finance industry, and lenders are looking for solutions that help them win business in this competitive market. ![]()
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