“Both OpenClose and Arch MI are committed to maximizing value for lenders, which this integration showcases.”įounded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS) mortgage software solutions provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. “Put simply, this integration eliminates manual steps and allows our customers to tap Arch MI’s RateStar solution to price mortgage insurance coverage based on loan risk, which ultimately helps originators offer eligible borrowers the best pricing for their specific loan scenario,” said Vince Furey, senior vice president of lending solutions at OpenClose. Not only will they be able to quickly obtain RateStar quotes from within OpenClose’s multi-channel LOS, the integration will also eliminate the cumbersome re-entry of data and increase their productivity.” “The completion of this RateStar integration means that LenderAssist customers now have access to a more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets. “We are pleased to be the first MI company to partner with OpenClose,” said Chris Hovey, executive vice president and chief operating officer at Arch MI. Live MI pricing is returned in seconds and stored in LenderAssist for future reference. LenderAssist users can then select the best mortgage insurance option for their borrowers and automatically apply the selected Arch MI product and pricing to their loan. As a result of the integration, LenderAssist users can call up RateStar pricing at the press of a button, then view side-by-side comparisons of multiple live Arch MI products and rates. RateStar is a risk-based pricing program that matches Arch MI’s most competitive MI rates more precisely to individual loan risk. 21, 2017 – Arch Mortgage Insurance Company (“Arch MI”), a leading provider of private mortgage insurance (MI) and a wholly owned subsidiary of Arch Capital Group Ltd., and OpenClose®, a multi-channel loan origination system (LOS) and mortgage software solutions provider, have completed a new integration allowing immediate access to Arch MI RateStar® pricing from within the OpenClose LenderAssist™ LOS. Enhancement provides easy access to Arch MI RateStar within OpenClose LOS
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