Radian Introduces RADAR® Rates, a New MI Pricing Option
January 14 2019 - 6:30AM
Business Wire
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.”
About 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190114005193/en/
Emily Riley – Phone: 215.231.1035Email:
emily.riley@radian.biz
Rashi Iyer – Phone: 215.231.1167Email: rashi.iyer@radian.biz
Radian (NYSE:RDN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Radian (NYSE:RDN)
Historical Stock Chart
From Apr 2023 to Apr 2024