Arch partners with Munich Re for mortgage credit assessment
Arch Capital Group unit Arch Credit Risk Services entered into a multi-year agreement with Munich Re to provide mortgage credit assessment and underwriting advisory services related to Munich Re’s involvement in credit risk transfer programmes offered by Fannie Mae and Freddie Mac.
Arch Credit Risk Services was founded in 2017 to help clients leverage the mortgage underwriting and analytical expertise of Arch Capital Group’s Global Mortgage Group, which includes Arch Mortgage Insurance Company, the largest provider of mortgage insurance in the US, according to a company statement.
“By offering our deep understanding of the US mortgage credit market, we’re supporting Munich Re’s efforts to participate in the US housing finance system,” said Arch Global Mortgage Group CEO Andrew Rippert. “Importantly, this extension of our business model adds a fee-based revenue stream to Arch’s Global Mortgage Group.”
Doris Höpke, a member of the board of management of Munich Re, added: “Arch’s knowledge of the market is well-known and we believe we have found an excellent partner for this endeavour.”
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