Arch Mortgage Insurance Satisfies GSE Financial Requirements

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Arch Mortgage Insurance Company ("Arch MI"), a leading provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd., announced that if the financial requirements for private mortgage insurers published by the Federal Housing Finance Agency ("FHFA") went into effect immediately, Arch MI would satisfy them.

The final Private Mortgage Insurer Eligibility Requirements (PMIERs) establish new standards that mortgage insurers are required to meet to insure loans sold to or guaranteed by Fannie Mae and Freddie Mac. Based upon our interpretation of the PMIERs and Arch MI's current portfolio and balance sheet, Arch MI's "available assets" exceed the "minimum required assets" specified within the final requirements.

"We are pleased that FHFA has finalized the PMIERs and believe that setting this standard for the private mortgage insurance industry provides confidence in the value of mortgage insurance," said David Gansberg, President and Chief Executive Officer of Arch MI. "Arch MI was in compliance with the draft PMIER financial requirements and we are proud to be fully compliant now with the financial requirements in their final form. This affirms our financial strength as an insurance counterparty. We are strongly positioned to continue to meet the needs of our customers."

Keywords for this news article include: Real Estate, Private Mortgage Insurance, Arch Mortgage Insurance Company.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC