Arch MI underwriting changes: summaries and effective dates

Applies to: Loans submitted to Arch MI for mortgage insurance, including those using the VantageScore 4.0 credit score model, which Arch MI now accepts for all its programs.

What to review: First review the mandatory requirement, effective immediately, to indicate the representative credit score model and score used to underwrite and price each transaction; then note that Arch MI accepts VantageScore 4.0 loans for all its programs from operationally ready customers, and that lenders may select the model loan by loan, applied consistently to all borrowers. AWACS interpretation

Applies to: Conventional loans insured by Arch MI with loan amounts within the new maximum limits, including loans with DU Approve/Ineligible or LPA Accept/Ineligible for loan amount only.

What to review: No change is mandatory. First review the new Arch MI maximum loan amounts (1-unit $832,750, or $1,249,125 in Alaska and Hawaii, and the higher 2–4-unit limits), effective immediately, which the lender may use. Then review the optional EZ Decisioning eligibility for DU Approve/Ineligible or LPA Accept/Ineligible (loan amount only) loans underwritten before the system updates and within the new limits. AWACS interpretation

Applies to: Conventional loans insured by Arch MI under EZ Decisioning or standard underwriting, with new higher maximum loan amounts.

What to review: No change here is mandatory, so first review the optional flexibility: Arch MI now supports higher maximum loan amounts effective immediately, and a loan with a DU Approve/Ineligible or LPA Accept/Ineligible (loan amount only) within the new maximums may be EZ Decisioning eligible if all other requirements are met. Lenders may also keep using the CA 2024-03 1-unit limits through January 5, 2025 only. AWACS interpretation