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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 32 June 2024 I N D U S T R Y U P D A T E ARC HOME UNVEILS NEW BRAND IDENTITY A rc Home, a non-QM and non-agency lender, has announced a significant corporate rebranding to underscore its commitment to streamlined and efficient mortgage solutions. With a fresh logo, vibrant new color scheme, and a clear tagline—"Non-QM Made Simple"—Arc Home is intending to strengthen its industry presence and service offerings. "Since stepping into my role last October, I've witnessed the tremendous potential for growth and innovation within our company," said Brian Devlin, President and CEO of Arc Home. "Our new brand identity is a testament to this potential—ushering in a new era for Arc Home with enhanced products and cutting-edge technology tailored to our brokers and correspondent lenders." Gerard McGeever, EVP of Marketing at Arc Home, added, "This rebrand isn't just about aesthetic changes. It's about making a promise to our team, our partners, and the entire mortgage com- munity that we are dedicated to making the non-QM process as straightforward and accessible as possible. We are here to support our partners, grow together, and continue setting standards of excellence in the industry." Arc Home looks forward to this exciting new chapter, confident that the rebrand will enhance its leadership position in the non-QM lending space. This rebrand marks the beginning of many strategic initiatives designed to streamline processes and enhance suc- cess in non-QM lending. As the industry continues to evolve, Arc Home remains committed to adapting and offering its partners comprehensive and practical solutions. INSURTECH LEADER TO PROVIDE PROPERTY AND CASUALTY INSURANCE FOR USA MORTGAGE CUSTOMERS M atic, a digital insurtech platform, and USA Mort- gage have joined forces in a strategic partnership to provide property and casualty insurance products to USA Mortgage customers. Under the partnership, Matic's insurance marketplace will be integrated into the USA Mortgage home lending experience, allowing borrowers to shop for personalized rates and coverage as part of the mortgage process. Matic's proprietary matching technology enables borrowers to quickly compare insurance options from a network of over 50 national and regional carriers, helping them identify the right choice for their unique needs and reduc- ing the time it takes to purchase a policy. "This partnership represents a sig- nificant milestone in our commitment to provide impactful solutions that enhance the borrower experience," said Ron Muel- ler, President of USA Mortgage. "Matic's comprehensive carrier network with cov- erage across the U.S., and their ability to combine cutting-edge technology with an internal agency was a clear choice to meet the needs of our diverse customer base." USA Mortgage customers will gain access to a wide array of P&C insur- ance products through Matic's digital platform. In addition to home and auto insurance, Matic will offer umbrella, jewelry, flood, dwelling fire, pet, and other personal lines of insurance to meet customer needs within the mortgage origination lifecycle. "Matic was built for the mortgage industry to simplify the insurance shop- ping process during the home buying experience," said Ben Madick, CEO and Co-Founder of Matic Insurance. "We are honored to partner with USA Mortgage to provide value for their customers while streamlining the closing process." OLD REPUBLIC TITLE AND CERTIFID SIGN AGREEMENT TO COMBAT MORTGAGE PAYOFF FRAUD C ertifID, a wire fraud protection company, has announced a new strategic agreement with Old Re- public Title to prevent mortgage payoff fraud in the title industry. Fraud has become an increasing source of loss in the real estate sector, reaching $446 million in a recent FBI public service announcement. About 17% of title companies have sent money to an incorrect account due to fraud, and 49% of those organizations have done so more than once, according to a study by the American Land Title Association (ALTA). Additionally, less than half of title companies have adopted the industry best practice of using a wire verification service. Mortgage payoffs have become the largest source of loss for title and real estate law firms, due to their large trans- action size at $247,000 in median loss, a complex lender landscape, and lack of consistent use of technology. The new package offered by Old Republic Title and CertifID is designed to address this significant source of loss risk. "Old Republic Title continues to focus on innovation to enable the success of our direct and agency operations," said Carolyn Monroe, President and CEO of Old Republic National Title Holding Company. "We are excited to leverage the comprehensive approach to fraud pre- vention that CertifID provides, inclusive of software, insurance, and recovery and support services, to help prevent fraud and create the best experiences for our agents and customers, and all parties involved in real estate transactions." "CertifID applauds the leadership by Old Republic Title to invest in solutions that can reduce risk while enabling efficiency in their direct and agency operations," said Tyler Adams, CEO of CertifID. "We look forward to working together to truly solve the issue of payoff fraud seen across the industry."