Partnership provides direct access to Arch MI products while increasing efficiency and accuracy
GREENSBORO, N.C.–(BUSINESS WIRE)–
Arch Mortgage Insurance Company (“Arch MI”), a leading provider of private mortgage insurance (MI) and a wholly owned subsidiary of Arch Capital Group Ltd., and Vesta, a next-generation loan origination system (LOS) and software-as-a-service company, launched a new integration providing customers with direct access to Arch MI’s industry-leading products and pricing tools.
“Arch MI’s newly-launched integration with Vesta LOS delivers a seamless ordering experience for our mutual customers, while also increasing accuracy and reducing costs,” said Will Vickers, Arch MI’s Vice President of Industry Technology. “We are proud to partner with Vesta to provide direct access to Arch MI RateStar® for our most competitive rates and to automatically lock in your quote with our 90-day promise. The integration provides Vesta with a streamlined process for ordering MI quotes and delegated MI without leaving the Vesta LOS. We are committed to bringing technology solutions to the marketplace that improve lender efficiency and accuracy.”
According to Mike Yu, Vesta CEO, “Ordering mortgage insurance remains a critical piece of the loan origination puzzle, and we are thrilled to be able to partner with Arch MI to offer a first-class, natively built integration to make quoting and ordering a quick, easy and ultra-efficient process for our lenders.”
About Arch Mortgage Insurance Company
Arch Capital Group Ltd.’s U.S. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in Greensboro, North Carolina, Arch MI’s mission is to protect lenders against credit risk, while extending the possibility of responsible homeownership to qualified borrowers. 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. For more information, visit archmi.com.
About Vesta
Vesta is a SaaS provider of mortgage loan origination software. The platform provides lenders with a modern system of record and customizable workflows for an end-to-end mortgage loan fulfillment process. Headquartered in San Francisco, California, the company was founded by early Blend employees Mike Yu and Devon Yang in 2020. Investors backing Vesta include Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures and Zigg Capital. For more information, visit usevesta.com or Vesta’s LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward-looking statements , which reflect our current views with respect to future events and financial performance. All statements, other than statements of historical fact, included in or incorporated by reference in this release are forward-looking statements.
Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Media:
Arch MI
Method Communications
Sara Larsen, 832-233-0370
[email protected]
Vesta
Lydia Green, 415-229-9008
[email protected]
Source: Arch Capital Group Ltd.