Radian Extends Exclusive Partnership with Asian Real Estate Association of America
April 18 2017 - 6:30AM
Business Wire
Collaboration celebrated for helping Asian
Americans increase homeownership through educational tools and
meaningful public advocacy support
Radian Guaranty Inc., the private mortgage insurance (MI)
subsidiary of Radian Group Inc., today announced the two-year
extension of its exclusive partnership with the Asian Real Estate
Association of America (AREAA), a nonprofit professional trade
organization dedicated to promoting sustainable homeownership
opportunities in Asian American/Pacific Islander (AAPI)
communities. Radian first partnered with AREAA in 2015 for an
exclusive two-year term and on the basis of that successful
relationship, both organizations decided to renew their ties
through December 2018. According to the terms of the renewed
agreement, Radian will continue to work with AREAA to create
broader lending options for AAPI consumers, including the
Association’s 15,000 + members, by supporting the Association’s
policy agenda, regional growth strategy and member education
initiatives.
“Radian and AREAA have made impressive inroads toward advancing
the policy goals and housing market education of the AAPI
community, and we are pleased that our partnership has helped
contribute to the growth of AREAA’s membership by more than 1,000
professionals,” said Brien McMahon, Radian’s chief franchise
officer. “Looking ahead through to the end of 2018, we look forward
to helping expand AREAA’s reach across the country’s main markets
and contributing to continued member education about new
developments in MI, smart ways to leverage MI and the various
mortgage options available. Our partnership also will position us
to help AREAA’s policy goals such as its “Millennial Program” aimed
at assisting those between 18–34 years of age achieve
homeownership, and its legislative agenda, which includes
advocating for deeper cover MI, modern credit scoring models and
the MI tax deduction.”
According to the 2015 Home Mortgage Disclosure Act (HMDA)
report, the AAPI community represented the largest minority users
of conventional conforming products in terms of dollar amounts as
well as units. The AAPI community is also the fastest growing
segment of the US population, and is projected to remain so through
the year 2050. As this fast-growing community works toward
achieving an ever greater stake in the American dream of
homeownership, Radian offers the tools, training, and advocacy
support to help them make the best, most informed mortgage
decisions.
Radian and AREAA plan to further collaborate on the
Association’s regional strategy into a number of markets across the
country. The partnership will also advance educational training
through Radian’s webinar series, continue to advance AREAA’s policy
agenda, and lend support to AREAA’s Millennial Program.
“AREAA is proud to extend our partnership with Radian as our
exclusive mortgage insurance partner through December 2018,”
commented 2017 AREAA National President Angie Lee. “Many Asian
Americans mistakenly believe that you need to have 20 % downpayment
to finance a home. This concept delays homeownership and slows down
wealth creation in our community. AREAA is excited to work with
Radian to educate our community about ways to responsibly make
homeownership a reality today and build wealth for our future.”
About Radian
Radian Group Inc. (NYSE:RDN), headquartered in Philadelphia,
provides private mortgage insurance, risk management products and
real estate services to financial institutions. Radian offers
products and services through two business segments:
- Mortgage Insurance, through its
principal mortgage insurance subsidiary Radian Guaranty Inc. This
private mortgage insurance protects lenders from default-related
losses, facilitates the sale of low-downpayment mortgages in the
secondary market and enables homebuyers to purchase homes more
quickly with downpayments less than 20%.
- Mortgage and Real Estate
Services, through its principal services subsidiary Clayton
Holdings LLC, as well as Green River Capital and Red Bell Real
Estate. These solutions include information and services that
financial institutions, investors and government entities use to
evaluate, acquire, securitize, service and monitor loans and
asset-backed securities.
Additional information may be found at www.radian.biz.
About AREAA
Founded in 2003, AREAA is a nonprofit professional trade
organization dedicated to promoting sustainable homeownership
opportunities in Asian American communities by creating a powerful
national voice for housing and real estate professionals that serve
this dynamic market.
AREAA will accomplish these goals by:
- Creating a powerful national voice for
housing and real estate professionals that serve this dynamic
market
- Advocating for policy positions at the
national level that will reduce barriers to homeownership for the
AAPI community
- Increasing business opportunities for
mortgage and real estate professionals that serve this growing
community
- Hosting National and Local events to
educate and inform members about housing issues and developments
affecting the AAPI community
- Conducting trade missions throughout
Asia to develop business partnerships and increase brand
awareness
AREAA’s membership represents a vast array of cultural, ethnic,
and professional backgrounds. AREAA is open to anyone and everyone
who works with, or seeks to work with, the AAPI community. With
over 15,000 members in 35 chapters across the US and Canada, AREAA
is the largest Asian organization in North America.
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Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
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