Out­look

Help­ing lenders and ser­vicers re­main e cient Spon­sor Con­tent From ARCH MI

National Mortgage News - - Contents -

When it comes to fric­tion­less part­ner­ships with lenders and ser­vicers, Arch Mort­gage In­sur­ance Com­pany (Arch MI) has emerged as an ex­pert in the field. We caught up with Jim Jumpe, Ex­ec­u­tive Vice Pres­i­dent and Chief Mar­ket­ing Of­fi­cer for Arch MI, and asked him about the best ways for lenders and ser­vicers to in­crease ef­fi­cien­cies to­day.

Q: How im­por­tant is the ef­fi­ciency con­ver­sa­tion to the com­pa­nies you serve?

A: It’s vi­tally im­por­tant, es­pe­cially to­day. But our cus­tomers aren’t look­ing to Arch MI as a trusted part­ner to make them more ef­fi­cient. They un­der­stand ef­fi­ciency and they have op­ti­mized their sys­tems and pro­cesses to de­liver it.

They want to make sure that we don’t in­tro­duce fric­tion that will slow them down. As a re­sult, we’re sen­si­tive to ev­ery touch­point we have with our clients to en­sure that ev­ery in­ter­ac­tion they have with us, whether it’s di­rect or me­di­ated through their tech­nol­ogy dur­ing the loan man­u­fac­tur­ing or ser­vic­ing pro­cesses, is seam­less, sim­ple and sat­is­fac­tory. We’ve built the in­fra­struc­ture re­quired to de­liver this. We also survey our cus­tomers to make sure we hit that mark. Their high sat­is­fac­tion rate is telling us we do.

Q: Does qual­ity come into that con­ver­sa­tion?

A: Ev­ery time. Our cus­tomers’ pri­or­ity is speed, but never at the sac­ri­fice of the qual­ity of risk assess­ment. Their sys­tems will catch qual­ity and com­pli­ance prob­lems and stop the process. It is very costly to lenders to move back­ward at any stage of the process. We can’t have a dis­cus­sion about ef­fi­ciency with­out talk­ing about the qual­ity of un­der­writ­ing de­ci­sions.

Q: What is the key to be­ing a fric­tion­less part­ner for orig­i­na­tors and ser­vicers?

A: For us, it comes down to hav­ing the right peo­ple and the right tech­nol­ogy to de­liver ex­actly what our cus­tomers need as soon as they need it.

For the orig­i­na­tion process, it all starts with the mort­gage in­sur­ance (MI) quote. Fol­low­ing our ac­qui­si­tion of United Guar­anty ear­lier this year, Arch MI is now the only MI com­pany to of­fer a dy­namic, risk-based pric­ing so­lu­tion. That’s Arch MI RateS­tar®. It’s a very quick and easy way to go be­yond the tra­di­tional mort­gage rate sheet, a more con­tem­po­rary way to price and qual­ify their bor­rower for an MI quote so they can get our most com­pet­i­tive rates.

This gives lenders a huge com­pet­i­tive ad­van­tage. With­out this in­no­va­tion, lenders are stuck of­fer­ing bor­row­ers MI priced along a broad credit pro­file, lump­ing them in with ev­ery other bor­rower in broad buck­ets re­gard­less of their unique sit­u­a­tion. We look at about 17 dif­fer­ent bor­rower char­ac­ter­is­tics and then price ev­ery deal more pre­cisely, al­low­ing the lender to re­ward their bor­rower for good credit and a re­spon­si­ble fi­nan­cial his­tory. We’re will­ing to par­tic­i­pate in that good risk and pro­vide a bet­ter price.

When the de­ci­sion is made to use Arch MI, we of­fer ArchMICon­nect®, our pro­pri­etary orig­i­na­tion and ser­vic­ing sys­tem. This one con­ve­nient tech­nol­ogy de­liv­ers the com­mit­ment and the cer­tifi­cate of in­sur­ance. Our por­tal makes it easy to im­port the loan in­for­ma­tion from a DU® file, to check the sta­tus of the cer­tifi­cate and to get help all along the way.

On the ser­vic­ing side, our com­mit­ment con­tin­ues. We of­fer the peo­ple and the sys­tems to de­liver any­thing the ser­vicer might need, whether fil­ing a claim, pay­ing pre­mi­ums or check­ing the sta­tus of any­thing in process. We in­vest the re­sources and the train­ing to en­sure our peo­ple and our sys­tems are the best.

The right tech­nol­ogy goes a long way to­ward ful­fill­ing our prom­ise to help cus­tomers stay ef­fi­cient, but ul­ti­mately it’s our peo­ple that set us apart. Ask any­one who has in­ter­acted with some­one from Arch MI and they’ll tell you that the only thing that mat­ters to us is be­ing the best pos­si­ble part­ner to the com­pa­nies we serve.

Jim Jumpe Se­nior Vice Pres­i­dent and Chief Mar­ket­ing Of­fi­cer Arch MI

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