TheMReport

TH E M R EP O RT | 7 MTECH ValuAmerica Expands Footprint THE CLAYTON HOLDINGS BRAND HAS ACQUIRED CALIFORNIA-BASED VALUESCROW. V aluAmerica of Clayton Holdings LLC, national provider of appraisal, title, closing and settlement services, announced that it has acquired ValuEscrow, Inc., an independent escrow company locat- ed in Santa Ana, California, thus expanding its closing and escrow operations. "At ValuAmerica, expanding our opera- tional footprint is integral to achieving our long-term success," said Shawn Murphy, EVP of ValuAmerica. "This transaction will further enhance ValuAmerica's ability to serve our national clients in the coun - try's largest real estate market." Founded in 2013, ValuEscrow pro- vides loan closing and escrow services to Realtors, lenders, and title companies statewide. The company will continue to operate with its current staff and under its own brand and license. No other terms of the transaction were announced. Guaranteed Rate Adopts Automated Asset Verification THE COMPANY HAS PARTNERED WITH ACCOUNTCHEK, A FORMFREE BRAND. F ormFree recently announced that Guaranteed Rate, Inc. has selected AccountChek by FormFree for auto- mated asset verification. In using AccountChek, loan officers at Guaranteed Rate will be able to offer their clients a faster, safer, and more accurate alternative to scanning and uploading asset statements. AccountChek's app lets borrowers securely link to their banking, retirement, and investment accounts and share the asset and deposit data needed to qualify for a loan. "AccountChek saves borrowers the extra 20 minutes it takes to collect and upload paper statements, but it also does much more than that—it streamlines the entire loan process," said Nikolaos Athanasiou, COO at Guaranteed Rate. "No matter what financial institutions a borrower uses, we receive one standardized asset report in the GSE-required format. This speeds up our underwriting review and gives us greater confidence in our ability to sell the loan. As a result, we're moving borrowers from application to closing, on average, five to 10 days faster." AccountChek was the first asset verification provider approved for participation in Fannie Mae's Day 1 Certainty initiative, which gives lenders who use the Desktop Underwriter Validation Service reps and warrants relief for validated loan components. "AccountChek helps lenders achieve reps and warrants relief from Fannie Mae while delivering a more modern lending experience to borrowers," said FormFree Founder and President Brent Chandler. "We're seeing outstanding results like those Guaranteed Rate has attained—up to a 10-day reduction in time-to-close—across our customer base and corroborated by Fannie's Day 1 Certainty team." Arch Capital Group Announces Acquisition THE COMPANY HAS ACQUIRED AIG UNITED GUARANTY INSURANCE. A rch Capital Group Ltd. recently an- nounced that on July 1, 2017, it com- pleted its acquisition of AIG United Guaranty Insurance, located in Bermuda, from American International Group, Inc. Arch will be changing the name of the company to Arch MI Asia Limited (Arch MI Asia). The company acquired AIG United Guaranty Insurance in order to add to the global footprint of Arch's exist - ing private mortgage insurance businesses. Arch currently has operations in the U.S., Europe, and Australia. With this acquisition, Arch established its position as a leader in the global mortgage insurance industry. Arch MI Asia will expand origination opportuni - ties for lenders in Hong Kong and greater Asia. Arch's operational, managerial, and risk management experience, together with the local expertise of Arch MI Asia's management team, will ensure operational consistency for existing customers along with reliability. "This acquisition allows us to leverage Arch's global resources and innovative solu - tions in yet another market," said Andrew Rippert, CEO of Global Mortgage Group for Arch. "Our dedicated professionals under - stand the unique requirements and chal- lenges of the Hong Kong mortgage market and are committed to providing customers with the best possible service." Rippert is responsible for Arch's global mortgage insurance and reinsurance operations. Tak Ming Chung will continue as CEO and Country Manager for Arch MI Asia.

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