Arch MI and Cloudvirga Announce New Integration Delivering Live RateStar Risk-Based Pricing
Saves time, helps lenders structure loan deals more accurately
Cloudvirga’s lender customers now have direct, real-time access to Arch MI RateStar®, the only risk-based MI pricing solution.
“We are excited to partner with an innovative company like Cloudvirga,” said
RateStar evaluates a wide variety of loan characteristics to more precisely match Arch MI rates to individual loan risk. Cloudvirga’s Consumer POS and Enterprise POS platforms now seamlessly connect with Arch MI to return precise MI pricing in seconds, eliminating the need to rekey data on websites outside Cloudvirga and ensuring accurate disclosure data. All RateStar quotes come with a 90-Day Promise to honor the quote as long as there is no change to the submitted loan information.
“This is not your basic, ‘plug-and-play’ integration. By tightly weaving Arch MI’s RateStar pricing for both borrower-paid monthly and single premium MI into Cloudvirga’s digital mortgage platform, we deliver loan calculations that are far more accurate than the norm from the very start and generate an underwriting-ready loan for a fraction of the typical production cost,” said Cloudvirga Co-Founder
About Arch MI
Arch Capital Group Ltd.’s US mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in
About Cloudvirga
Cloudvirga’s intelligent mortgage point-of-sale (POS) platforms uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga’s initial customer roster includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over
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