Arch MI's 2014 Master Policy Information Center
Welcome to the Arch MI Master Policy Information Center - your home for the information you need to understand our Master Policy. The Master Policy and related Endorsements set a standard for confidence, clarity and transparency of mortgage insurance coverage.
It is important to us that you understand our Master Policy. To that end, this site includes links to:
- Plus Program Manual
- Master Policy and Endorsements
- A description of the key provisions of the Master Policy effective October 1, 2014
- An overview of your and our rescission rights under the Master Policy, including guaranteed 36-Month Rescission Relief and our 12-Month Rescission Relief for Loan Quality and Property Value
- Master Policy FAQs
- An overview of Arch MI’s industry-leading expedited Claims process and our Delinquency and Claims Reference Manual
Arch MI’s Master Policy and Endorsements include many improvements over the current master policy, including superior clarity of terms and conditions. The Master Policy has been approved for use by state insurance regulators and by the GSEs and conforms to the GSEs’ 2013 mortgage insurer master policy requirements. The Master Policy became effective on October 1, 2014. All insured Loans with application dates on that date or later are covered under the Master Policy.
Delegated Program Manual
Arch MI has designed the Delegated Program to enable customers that agree to comply with Arch MI’s underwriting guidelines, the Master Policy, and the Delegated Program Policy, to obtain mortgage insurance in just moments. Click the link below to open our Delegated Program Manual.
Delegated Program Manual
Plus Program Manual
Arch Mortgage Insurance Company (Arch MI) is committed to providing you with as many choices as possible to fill your mortgage insurance needs. To that end, 36-month Rescission Relief is provided automatically under our Master Policy. For lenders who want 12-month Rescission Relief, we offer two Plus Programs: the Master Policy Plus program under which we provide 12-month Rescission Relief for non-delegated Loans, and the Delegated Plus program under which we offer 12-month Rescission Relief on delegated Loans. This Plus Program Manual provides information related to the delivery of Loans under both Plus Programs. The Plus Program Manual explains some of the terms and conditions included in the Master Policy Plus and Delegated Plus Underwriting Endorsements (the “Plus Endorsements”). Click the link below to open our Plus Program Manual.
Plus Program Manual
Master Policy Documents
Below you’ll find links to the Master Policy and Endorsements:
Master Policy - The Master Policy governs the terms of coverage for all Loans with MI Application dates on or after October 1, 2014. Our old master policy will continue to govern the terms of coverage on all loans with MI Application dates prior to October 1, 2014.
Master Policy Plus Endorsement - Applies to all non-delegated loans and qualifies the Master Policy by adding 12-Month Rescission Relief for Loan Quality and Property Value.
Delegated Endorsement - For delegated customers, this endorsement sets the terms of our Delegated Underwriting Program.
Delegated Plus Endorsement - For our delegated customers who wish to receive 12-Month Rescission Relief on certain loans and who are willing to submit certain Loan documents to us so that we may perform the Independent Validations required by the GSEs.
Cooperative Property Endorsement
State Variation Endorsements
Please click here for a table summarizing the GSEs’ 2013 master policy specifications, and identifying where we incorporated the specifications into our Master Policy.
Clear Rescission Standards and Rescission Relief
Click on the link below for a summary of the rescission and rescission relief terms and conditions included in our Master Policy.
Should you wish to explore eligibility for 12 Month Rescission Relief on your delegated loans, your Account Manager will assist you in understanding the process requirements and in submitting the required election acknowledgement.
Arch MI’s philosophy is to treat our customers fairly and to be as transparent as possible. Click on the link below to see how our Master Policy handles specific Claim review and rescission issues such as the materiality and credibility of evidence required before we may rescind coverage.
Examples of Credible Evidence and Materiality
Frequently Asked Questions
Click on the link below for FAQs about our Master Policy.
Still have questions? No problem. Just contact your Account Manager.
Until further notice, which shall be reasonably supplied, submission of the Servicing Report defined in the Master Policy under Section 5.4 is voluntary.
If a servicer wishes to voluntarily submit the Servicing Report, Arch MI will accept either the comprehensive or minimum version of the MILAR template – or any other subset of MILAR the servicer chooses to report.
Our Streamlined Claims Process
In our Master Policy, we provide certainty with respect to Claims documentation. Arch MI’s Master Policy requires that the Delinquency and Claims Reference Manual (“DCRM”) published on our website identify all the documents that may be required to be submitted with Claims. So, Arch MI may only ever request documents specifically identified in the DCRM. For most claims, this means that you will only be required to submit the following six documents with your claim: attorney chronology, collection notes, servicing notes, loss mitigation notes, current broker’s price opinion (BPO), and Loan payment history. You will only be required to submit additional documents if they are needed to process your Claim. The Claims documentation section of the draft DCRM can be found on pages 14-19 of the DCRM link below.
Delinquency and Claims Reference Manual