As president and CEO of Arch Mortgage Insurance Company, Michael Schmeiser oversees about 850 employees, is committed to furthering Arch MI’s mission of providing best-in-class solutions that meet the needs of mortgage lenders.
Since taking the top role at Arch MI, Schmeiser has made employees a priority. His relaxed, informal style fosters a collaborative environment and encourages employees at all levels to bring their ideas to him.
Schmeiser hosts quarterly all-employee town halls and creates other opportunities for employees to freely share ideas with him and other senior leaders. The company culture Schmeiser is spearheading was recently spotlighted by the Triad Business Journal, which named Arch MI one of the Best Places to Work in 2019 based on feedback from employees.
Schmeiser is quick to point out, however, that despite his relatively informal leadership style, he is an intense competitor. The Arch Global Mortgage Group delivered record profits in the first half of 2019 with more than $500 million in underwriting income with the majority coming from Arch MI.
In August, he oversaw the introduction of a new RateStar Refinance Retention tool, which enables lenders to offer reduced borrower-paid MI premiums for eligible borrowers refinancing Arch MI-insured loans — helping lenders capture more refinance business in an environment where mortgage rates have declined.
Schmeiser says he is committed to Arch MI maintaining its position as a leading MI provider in the U.S. by making data-driven decisions, listening to the customer and continuing to make Arch MI a great place to work.
What’s the best advice you’ve ever received?
“One of my friends from business school once said, ‘Be patient for titles, but impatient for learnings.’ If you want to get to the next step and develop your career, it’s vital to learn within your current role, build new skill sets and take on projects, even without a promotion.”