COVID-19 Update: Arch MI Supports GSE Relief Policies
In light of current concerns about the spread of COVID-19 (the coronavirus), Arch MI affirms our support for all forbearance and loss mitigation programs to be initiated by Fannie Mae and Freddie Mac.
Additionally, Arch MI will support any policies related to COVID-19 that are issued by Fannie Mae and Freddie Mac, and directives issued by the affected states’ insurance offices.
Arch MI will give servicers full delegation on Arch MI-insured GSE loans to proceed with workouts that meet the guidelines set forth by Fannie Mae and Freddie Mac. The servicer’s only obligation is to report the workout once it is complete; permission is not required up front.
Arch MI recognizes these are very difficult times for homeowners and lenders. We stand together with the servicing community to support streamlined and effective loss mitigation programs.
For more information, please contact our Loss Mitigation team at 877-642-4642 (option 2, then option 2), or email us at [email protected].