By introducing the RateStar Refinance Retention program in late 2019 as mortgage rates declined, Arch MI offered lenders a significant competitive advantage on refinances. This innovative program enabled Arch MI’s customers to compete successfully for business by offering lower monthly MI premium rates for tens of thousands of quotes this year. With this tool, which leverages agile RateStarSM risk-based MI pricing platform, lenders maximized opportunities throughout 2020 as refinances increased by 91.5% over the previous year, according to the MBA.
- Arch MI rate quotes for refinance loans in 2020 increased by 164% over 2019
