first_img April 5, 2019 850 Views Arch Mortgage Insurance Company (Arch MI), a provider of private mortgage insurance (MI) and a wholly owned subsidiary of Arch Capital Group Ltd., announced the release of an update to their premium pricing tool, RateStar.This next generation of Arch MI’s RateStar user portal delivers a streamlined customer experience with express quotes and options to fully customize quotes. RateStar launched 10 years ago as a dynamic tool that could evaluate individual loan risk precisely.RateStar is also the only MI pricing tool that currently has an MI buydown feature. RateStar Buydown allows loan officers to customize a unique MI premium payment for each borrower, leveraging all lender and seller credits.“RateStar continues to evolve as we apply our decade of expertise and customer feedback,” said Michael Schmeiser, Arch MI’s President and CEO. “RateStar transformed the way lenders selected coverage, delivering our most competitive rates for each loan, and RateStar Buydown made it possible for them to tailor MI premiums according to individual borrower circumstances.” “Now we’re taking RateStar to the next level with our new portal,” he continued. “It offers an express rate quote option that returns rate quotes faster and requires far fewer fields. Users have a full range of MI pricing options to choose from. RateStar provides a streamlined, uncluttered customer experience with design enhancements based on lender preferences.” The new RateStar portal has a unique URL, archmiratestar.com (archmicuratestar.com for credit unions). It’s also available on most industry loan origination systems and pricing engines, as well as through Arch MI’s origination platform, CONNECT, and its downloadable mobile app.“Arch MI has led the way with our risk-based MI pricing solution, and we’ll continue to identify opportunities to enhance and expand RateStar’s capabilities,” Schmeiser said. “Fortunately, we have both the in-house expertise and experience to ensure the tool evolves as conditions change. Constant innovation makes RateStar relevant to loan officers, who are competing for every loan and need a dynamic MI pricing solution with the flexibility and precision to differentiate them in the marketplace.”The new RateStar portal features:a streamlined, clutter-free look and feela simplified, user-friendly interface, including an accessible font, font size, and languagefewer required data entry fields to receive a basic quotea reduced processing time on the back end, resulting in faster resultsa new express rate quote option, plus a full menu of applicable pricing options Arch MI Company News RateStar 2019-04-05 David Wharton Arch MI RateStar Pricing Tool Gets an Updatecenter_img Share in Headlines, journal, News, Technologylast_img