Optimal Blue partners with Arch Mortgage Insurance Company
Optimal Blue, a cloud-based provider of managed-content, product eligibility and pricing (PPE), secondary marketing, point-of-sale and compliance technology and services for the mortgage industry, recently announced a partnership with Arch Mortgage Insurance Company.
Arch MI is a provider of private mortgage insurance. Headquartered in Walnut Creek, CA (News - Alert), Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible homeownership to qualified borrowers. A wholly owned subsidiary of Arch Capital Group Ltd., Arch MI is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico.
According to the terms of the agreement, Optimal Blue will now provide Arch MI's competitive pricing and Rate Quote workflow within its eligibility and pricing services. Arch MI customers using Optimal Blue's services can now request for Arch MI's mortgage insurance premium rates for up to five loan products.
"Arch MI's integration with Optimal Blue reflects another important step in our commitment to meet customers' needs," said David Gansberg, chief executive officer of Arch MI. "Our partnership with Optimal Blue will reduce turnaround times for lenders, boost their efficiency and drive their business growth. Optimal Blue's technology platform represents an important innovation in mortgage industry technology and creates new standards for productivity."
In related news, Arch Mortgage Insurance Company recently announced the introduction of its new First Lien Master Policy, which includes Arch MI's new Plus Program. Arch MI's new Master Policy sets a new standard for flexibility by offering both 12- and 36-month rescission relief options. Arch MI's new Master Policy, which will become effective on October 1, 2014, also includes industry-leading streamlined procedures and claim settlement timelines and other improvements.
Arch MI's enhanced Master Policy includes two significant new options for rescission relief: a baseline policy with 36-month rescission relief and the new Plus Program option with 12-month rescission relief.
Edited by Stefania Viscusi