Business Wire 14-Jan-2019 6:30 AM
Provides MI customers with a complementary pricing option to Radian's standard rate card
Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group Inc. (NYSE:RDN), introduces RADAR Rates, a new MI pricing option. RADAR Rates is powered by Radian's proprietary RADAR pricing model to dynamically analyze credit risk inputs, with each rate quote finely tuned to a borrower's individual risk profile and loan attributes.
RADAR Rates will be available to customers on January 21, 2019, subject to regulatory approval. RADAR Rates is available through the company's Radian Rates app, and through most industry pricing engines and loan origination system interfaces.
"Our customers and their borrowers have unique needs, and our goal is to tailor our pricing to meet those needs," said Radian's Chief Executive Officer Rick Thornberry. "We believe that this new MI pricing option will help us to support our customers in increasing affordable, sustainable homeownership opportunities, while positioning Radian to write even more business at an attractive return."
Pricing inputs that are unique to each individual loan and borrower inform Radian's RADAR pricing model. The model, which was developed after the housing crisis, leverages years of historical data and proprietary analytics combined with Radian's experienced risk management team to provide a holistic view of overall loan performance.
Radian's Senior Executive Vice President of Mortgage Insurance and Risk Services Derek Brummer added, "We are pleased to offer risk-based pricing through RADAR Rates and published rate cards, providing options based on a lender's loan origination process. Our goal is to offer competitive pricing that helps our customers grow their business, while also ensuring an appropriate risk-adjusted return for Radian."
Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate, and title services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Learn more about Radian's financial strength and flexibility at www.radian.biz and visit www.radian.com to see how Radian is shaping the future of mortgage and real estate services.
Limited Time Offer:
Claim your free copy of income expert Bryan Perry's new report:
My Top Monthly Dividend Payer (8% Dividend Yield)
You'll also receive Bryan Perry's weekly e-letter, Dividend Investing Weekly, at no cost, along with other associated financial content and special offers.