AREAA Partners with Radian to Enhance Lending Options for Asian American Consumers
September 29 2015 - 8:00AM
Business Wire
Agreement Makes Radian the Exclusive Private
Mortgage Insurer Partner to AREAA
Asian Real Estate Association of America (AREAA), has entered
into a two-year exclusive partnership with Radian Guaranty Inc.,
the mortgage insurance subsidiary of Radian Group Inc. Through this
partnership, Radian and AREAA will focus on creating broader
lending options for Asian American consumers, including the
association’s 14,000 members.
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“Access to innovative financing solutions is critical in today’s
mortgage environment,” said Carmen Chong, 2015 Chairman of AREAA.
“In order to better serve the Asian American community more
effectively, we need to educate real estate professionals about
various mortgage options as well as continue to develop relevant
mortgage products. AREAA is proud to partner with Radian to make
this important effort possible.”
Under the agreement, Radian is working with AREAA and its local
leaders to educate AREAA members on the benefits of mortgage
insurance and to create tools to help Asian American consumers make
the best mortgage decisions.
“Radian and AREAA share the desire to create lending options for
Asian American housing consumers that meet their unique needs,”
said Brien McMahon, Radian’s Chief Franchise Officer. “The Asian
American community has been a large user of conventional conforming
mortgage product for some time now. Through our partnership, we are
looking at ways to provide information to Asian homebuyers about
taking advantage of the full range of mortgage options and not
delaying homeownership in today’s strong housing market.”
Since 2000, Asian Americans have been the fastest growing group
in the United States with the highest household income in the
country. Nearly two thirds of the Asian American population are
foreign born and the demand for culturally relevant products is
strong. Within the next two years, Asian American purchasing power
will top $1 trillion.
Radian is the only private mortgage insurance partner for the
Association through 2016. This will give the Philadelphia-based
private mortgage insurer prominent visibility at the Association’s
annual convention, its policy meetings and chapter events across
the country.
About AREAA
The Asian Real Estate Association of America (AREAA),
established in 2003, is a national business trade organization
focused on expanding housing opportunities for Asian American
communities and creating business opportunities for real estate
business leaders who serve this growing market. With over 14,000
members in 37 chapters across North America, AREAA is the largest
real estate trade association focused exclusively on facilitating
cross-border transactions between Asia and the United States.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150929005973/en/
For AREAAScott BermanSberman@areaa.orgorFor Radian:Emily Riley,
(215) 231-1035emily.riley@radian.biz
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