Special COVID-19 Direction for our Valued Customers:
Many of you have asked us for direction on reporting COVID-19- affected loans. Loans that are showing 45 days past due in your system should be reported as delinquent to Arch MI. If your company reports delinquencies through an ADR file, any COVID-19-affected loans should be reported with Non-Pay Code 12. If you report delinquencies via CONNECT, please choose National Emergency Declaration/Energy Cost in the drop-down menu under Non-payment Reason.
If for any reason you are unable to report the non-pay reasons above, please send a spreadsheet of all loans affected by COVID-19 to email@example.com. This will enable us to accurately track COVID-19-affected delinquencies in our system.
*If your company also sends MILAR reporting to Arch MI, please use Reason for Delinquency 12 for all COVID-19-affected loans.
For loans in forbearance related to COVID-19:
- Report the forbearance to Arch MI via regular monthly reporting, whether by MILAR or spreadsheet/email, to firstname.lastname@example.org.
- If the forbearance is 45 days past due, also report it to Arch MI as delinquent via ADR or CONNECT or by contacting email@example.com.
Arch MI Default Reporting is committed to making an appropriate disposition on each claim, while maintaining our goal of preserving homeownership.
Initial Notice of Default: NOD should be entered when a loan becomes two payments past due. Please file a notice of delinquency no later than the 25th day of the month in which the borrower’s second missed payment remains unpaid.
Subsequent Monthly Default Reporting: Continue to provide monthly updates for all loans that remain in default. Report the status of each loan in default between the 15th and the 25th of each month. These monthly updates should continue until a claim is submitted or loan is brought current. Please see the Arch MI Delinquency and Claims Manual for complete reporting requirements.
To complete NOD reporting please log in to CONNECT (Default Reporting). For instructions about how to report a NOD please visit Technology Solutions.
If you have a large number of loans to report you may prefer Automated Default Reporting (ADR). For ADR guidelines please see the ARCH MI ADR Guide. If you have reviewed the requirements and would like to proceed, please complete the Secure File Transfer Request Form.
If you need to report an NOD manually please fill out an Arch NOD Form and email it to us at DefaultReporting@archmi.com or you can fax it to us at: (800) 490-6757. Please feel free to email us any questions and we will be happy to respond as quickly as we can.