guidelines

  • Does Arch MI insure loans for manufactured homes?

    - by Darren Metsker

    Does Arch MI insure loans for manufactured homes?

    Yes, Arch MI will insure loans for manufactured homes on a primary residence up to 95% LTV (90% LTV on second homes) under our EZ DecisioningSM program with valid Desktop Underwriter® (DU®) Approve/Eligible or Loan Product Advisor® (LPASM) Accept/Eligible findings. We will also allow a primary residence or second home up to 90% LTV under our Standard Underwriting program. Refer to Section 3.14.04 of our Underwriting Manual for additional requirements. Singlewide manufactured homes are not eligible.

  • Does Arch MI allow Appraisal Waivers when Desktop Underwriter® (DU®) or Loan Product Advisor® (LPASM) findings permit?

    - by Darren Metsker

    Does Arch MI allow Appraisal Waivers when Desktop Underwriter® (DU®) or Loan Product Advisor® (LPASM) findings permit?

    Yes, with the exception of Fannie Mae’s Rural High-Needs Appraisal Waiver being ineligible, our EZ DecisioningSM program allows Appraisal Waivers in accordance with Agency guidelines.

  • Does Arch MI consider exceptions to published guidelines?

    - by Darren Metsker

    Does Arch MI consider exceptions to published guidelines?   

    Loans with exceptions may be considered on a case-by-case basis. Upon receipt of a full file for consideration, our underwriting team will review the risk and compensating factors before notifying you of a decision.

  • What are the requirements for canceling mortgage insurance?

    - by Darren Metsker

    What are the requirements for canceling mortgage insurance?

    The lender should follow investor and/or lender guidelines to determine if a transaction is eligible for cancellation. Contact our Servicing Department using one of the options below.

    For United Guaranty MI certs:

    Email: servicing@archmi.com
    Telephone: 877-642-4642 (Option 2)

    For Arch MI certs:

    Email: policyservicing@archmi.com
    Telephone800-909-4264 (Option 5)

  • Does Arch MI have overlays restricting approval for loans with Debt-to-Income (DTI) ratios above 45 percent when the transaction is approved by DU/LPA?

    - by Darren Metsker

    Does Arch MI have overlays restricting approval for loans with Debt-to-Income (DTI) ratios above 45 percent when the transaction is approved by DU/LPA?

    Arch MI RateStar® is our proprietary and dynamic risk-based MI pricing solution that takes into account multiple rating variables beyond those used by rate cards, including DTI. This allows us to manage risk and maintain flexible underwriting guidelines that align with our clients’ mortgage originations. We have not made any changes to our underwriting guidelines at this time and will continue to monitor our portfolio and the secondary markets’ appetite for this business.