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Arch MI Completes Integration with Cloudvirga Platform

North Carolina headquartered private mortgage insurance company Arch Mortgage Insurance Company (“Arch MI”) has announced the completion of a new integration with Cloudvirga, developer of  mortgage point-of-sale (POS) platforms. Cloudvirga’s lender customers now have direct, real-time access to Arch MI RateStar.

RateStar evaluates a wide variety of loan characteristics to more precisely match Arch MI rates to individual loan risk. Cloudvirga’s Consumer POS and Enterprise POS platforms now seamlessly connect with Arch MI to return precise MI pricing in seconds, eliminating the need to rekey data on websites outside Cloudvirga and ensuring accurate disclosure data. All RateStar quotes come with a 90-Day Promise to honor the quote as long as there is no change to the submitted loan information.

“We are excited to partner with an innovative company like Cloudvirga,” said Chris Hovey, Executive VP and COO at Arch MI. “Like Arch MI, Cloudvirga is aggressively reimagining the mortgage process for greater speed and efficiency. Together, we are bringing Cloudvirga users immediate, real-time access to RateStar.”

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. Cloudvirga’s intelligent mortgage point-of-sale (POS) platforms combine borrower experience with a digital lender platform that cuts overall loan costs, increases transparency, and reduces the time to close a loan. To date, Cloudvirga has raised over $27 million from some of the country’s top lenders and venture capital firms.

“By tightly weaving Arch MI’s RateStar pricing for both borrower-paid monthly and single premium MI into Cloudvirga’s digital mortgage platform, we deliver loan calculations that are far more accurate than the norm from the very start and generate an underwriting-ready loan for a fraction of the typical production cost,” said Kyle Kamrooz, Co-founder of Cloudvirga.

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. You can contact her at Radhika.Ojha@theMReport.com.

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