Arch Mortgage Insurance has launched a new company created for mortgage loans that originators intend to retain in their portfolios or include in private securitizations, the company said.
Arch Mortgage Guaranty Co., will insure various types of prime, standard and non-standard mortgages, including jumbo, non-qualified mortgages and portfolio mortgages on an individual, bulk, or pool basis, according to Arch MI in Walnut Creek, Calif.
Arch MI said Moody's Investor Service has granted the new company an insurance financial strength rating of A3, the highest among U.S. mortgage insurers.
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"Arch MI continues to provide unique and innovative mortgage insurance solutions to our customers, including the first and only master policy offering 'Day 1′ rescission relief," David Gansberg, Arch MI president/CEO, said.
Arch MI is the company formerly known as CMG Mortgage Insurance.
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