and its subsidiaries may include forward−looking statements, which reflect the Company’s current views with respect to future events and financial performance. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward−looking statements. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.Ĭautionary Note Regarding Forward-Looking Statements ![]() (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $18.0 billion in capital at Sept. For more information, visit .Īrch Capital Group Ltd. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. Headquartered in Greensboro, North Carolina, Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Jefferies LLC served as Arch’s financial advisor and Eversheds Sutherland served as Arch’s legal advisor.Īrch MI, a wholly owned subsidiary of Arch Capital Group Ltd., is a leading provider of private insurance covering mortgage credit risk in the U.S. The transaction is expected to close in the first half of 2024 and is subject to regulatory approval. “Our teams are experienced and proficient at acquiring and integrating mortgage insurance companies, which we expect will help us quickly maximize the value of this acquisition.” “Our ability to leverage the scale of our platform to gain significant expense and capital synergies makes this an attractive financial transaction for Arch,” said David Gansberg, Chief Executive Officer of Arch’s Global Mortgage Group. primary mortgage portfolio, which had a RIF of $75.9 billion at Sept. Once the transaction is closed, RMIC’s $1 billion risk in force (RIF) portfolio will be integrated into Arch MI’s existing U.S. (RMIC) and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation. MI Holdings (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., today announced it has entered into a definitive agreement to acquire RMIC Companies, Inc. Arch MI's flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Utilizing more than 165 direct vendor integrations, big data, artificial intelligence and process automation, BeSmartee's Mortgage POS, TPO Platform and Home Equity POS offer high-touch, end-to-end production experiences that shorten lending cycles and reduce costs, taking today's originators and borrowers further, faster. "This integration will help scale up origination opportunities for lenders, attracting and qualifying more borrowers with competitive rates in real time to reduce costs and accelerate sales."īeSmartee® disrupts the financial services industry with its award-winning, web-based mortgage lending software for lending institutions. "We are glad to announce our successful partnership with BeSmartee," said Carl Tyree, Arch MI's Executive Vice President and Chief Sales Officer. "This integration ensures that the MI fees BeSmartee auto-populates into the initial disclosure stack, viewed and eSigned by borrowers within the BeSmartee POS, are highly accurate." "The ability to quote MI rates quickly and accurately is an important element to delivering speed and efficiency during the borrower application process," said BeSmartee Co-founder Arvin Sahakian. Now celebrating 10 years as the industry's leading risk-based MI pricing solution, Arch MI RateStar® evaluates a wide variety of loan characteristics to provide the most tailored, complete and precise MI rate. ![]() ![]() This integration ensures that the MI fees BeSmartee auto-populates into the initial disclosure stack, viewed and eSigned by borrowers within the BeSmartee POS, are highly accurate.
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