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ARBOR NATIONAL MORTGAGE ROLLS OUT AMERIN PROGRAM

 WESTBURY, N.Y., Sept. 3 /PRNewswire/ -- Amerin Guaranty Corporation and ARBOR National Mortgage announced today that ARBOR has added Amerin's lender-paid mortgage insurance (LPMI) to its home mortgage product line. ARBOR National Mortgage, with 21 branch offices in 10 states, will offer Amerin insurance as an option to its customers, along with traditional borrower-paid mortgage insurance (BPMI).
 Amerin's lender-paid mortgage insurance gives loan approval authority directly to the mortgage lender. This delegated underwriting streamlines processing, permitting faster decisions on loan approval.
 "The Amerin program is an important addition to ARBOR's long list of product options that enable us to serve many different home finance markets," stated Ivan Kaufman, ARBOR's president and CEO. "First-time purchasers who have limited cash to close and any applicant looking for a swifter loan approval will appreciate the benefits of lender-paid mortgage insurance."
 In fact, a loan officer in ARBOR's Lansing, Mich. branch commented, "Amerin's low-cost mortgage insurance alternative clinched a deal for me. Although the applicants had been to three other lenders, they decided that the Amerin program, combined with ARBOR's zero points/zero closing option, allowed them to purchase a home with a limited amount of funds."
 Headquartered in Westbury, ARBOR National Mortgage is one of the nation's largest independent retail mortgage lenders, with loan originations of $2.5 billion for its most recent fiscal year ending Feb. 28, 1993.
 "We are particularly pleased to serve ARBOR, a rapidly growing and progressive organization with strong presence in the northeast and mid- Atlantic states," noted Stuart Brafman, president and chief operating officer of Amerin.
 Based in Chicago, Amerin was founded in September 1992 with the specific mission of making mortgage insurance more efficient and cost effective for lenders and their borrowers. The new lender-paid mortgage insurance program accomplishes that objective. Amerin's chairman is Gerald Friedman, former chairman of FGIC.
 -0- 9/3/93
 /CONTACT: Doff Meyer, 212-222-3436/


CO: Amerin Guaranty Corporation; ARBOR National Mortgage ST: New York IN: FIN SU: PDT

LG-OS -- NY026 -- 8863 09/03/93 13:22 EDT
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Publication:PR Newswire
Date:Sep 3, 1993
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