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Arch MI, Arch Capital Group Ltd.’s U.S. mortgage insurance operation, has announced the launch of Arch Mortgage Guaranty Company (AMG), a mortgage insurance company specifically created for mortgage loans that originators intend to retain in their portfolios or include in private securitizations. AMG has been issued a new insurance financial strength (IFS) rating of ‘A3’ by Moody’s Investors Service, representing their highest IFS rating within the U.S. mortgage insurance industry.
“Arch MI is very pleased to announce the launch of our newest mortgage credit enhancement solution, Arch Mortgage Guaranty, and its ‘A3’ IFS rating from Moody’s Investors Service,” said David Gansberg, president and chief executive oficer of Arch MI. “Arch MI continues to provide unique and innovative mortgage insurance solutions to our customers, including the first and only master policy offering 'Day 1' rescission relief. AMG provides yet another solution to support our customers’ product expansion in today’s evolving mortgage marketplace and positions us to support our customers’ goals of expanding homeownership opportunities.”
AMG is a separately capitalized entity and not subject to GSE requirements. AMG is uniquely positioned to insure various types of prime, standard and non-standard mortgages, including jumbo, non-qualified mortgage (QM) and portfolio mortgages on an individual, bulk, or pool basis. With AMG’s highest Moody’s IFS rating in the U.S. mortgage insurance industry, its unique master policy offering the opportunity for ‘Day 1’ rescission relief without the need for the borrower to make 12 consecutive payments, and the ability to insure a wide range of mortgages, Arch MI brings another superior and innovative value proposition to the mortgage insurance marketplace.