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RateStar expands lenders’ origination opportunities in a competitive market

Will Vickers of Arch MI explains the benefits of the dynamic pricing engine

With home prices across the country increasing and interest rates also on the rise, lenders are looking for ways to help borrowers afford homeownership. Arch MI RateStar is a dynamic MI pricing solution that expands lenders’ origination opportunities in a competitive market.

“We are the only mortgage insurance company that provides true risk-based rates for MI, which leads to better premium pricing for eligible borrowers and more closed loans for lenders,” said Will Vickers, Arch MI’s vice president of industry technology.

RateStar prices MI based on 17 different loan dimensions. The result is more than a million rate combinations, generating a quote that is individualized for each borrower’s loan.

“We like to say there is the perfect rate for every loan scenario,” Vickers said.

HousingWire sat down with Vickers at the Ellie Mae Experience conference to discuss Arch MI’s solutions and its integration with Ellie Mae’s forthcoming TQL MI.

 

 

TQL MI will let lenders create a workflow within Encompass to speed up the MI piece of the mortgage process. With Arch MI an approved partner, lenders who use Encompass can enable the TQL MI workflow to have instant access to RateStar’s live quotes, side-by-side quote comparisons and new automation to streamline their MI orders.

With RateStar’s more precise pricing, it’s easier than ever for lenders to save eligible borrowers money on their monthly payments and close more loans.

 

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