Radian's Programs & Services
At Radian, our goal is to help you get MORE. We recognize that a big part of that is ensuring that doing business with Radian is simple and rewarding, so you can enjoy both convenience and peace of mind. That’s why we’ve put together programs and services that streamline MI to help lenders gain market share and provide value.
- Confident Coverage®
Radian Confident Coverage gives lenders flexible, easy rescission relief and increased peace of mind. Learn more »
Lenders can opt for earlier rescission relief, as long as:
The lender submits the origination and closing files for Radian's review.
Radian completes its review of the origination and closing files and certifies "eligible."
The borrower makes the first 12 months of timely payments from his/her own funds.
Since Radian did the initial underwriting, the only additional requirement is a review of the Closing File to ensure that the loan closed appropriately and "as approved."
Only four additional documents are needed for non-delegated loans post closing.
Radian will waive its exclusions from coverage for origination errors or negligence, provided the loan closed without any material changes and the borrower timely pays the first 12 months from their own funds.
Radian will perform a re-underwrite of the loan file, ensuring it meets all eligibility criteria and is free of origination errors or negligence.
Radian will waive its exclusions from coverage for origination errors or negligence provided the loan review did not surface any material findings and the borrower timely pays the first 12 months from their own funds.
For more information about Confident Coverage, contact your Radian account manager today!
- Construction-to-Permanent Commitment
Sometimes you need a little MORE time. Radian understands that the American dream of homeownership takes time to achieve, especially when your dream home is under construction. Learn more »
That’s why we’re pleased to offer our construction-to-permanent commitment program for properties that are proposed or currently under construction. With this program, you’ll have the peace of mind knowing that Radian will honor guideline and pricing information for one full year while the home is being constructed. With Radian, living the dream is easy!
Make the underwriting process quicker and easier to manage! ExpressTrack makes it easy and Radian puts you at ease by taking on the overall credit risk. Learn more »
With ExpressTrack, we’ve eliminated the need to submit full-file loans. Delegated lenders using MI Online’s Document Upload center ONLY submit four (4) simple documents for review:
Plus, ExpressTrack can be used in combination with One Underwrite® to underwrite the MI application and review their appraisal and MI eligibility almost simultaneously. When using the two products together, be sure to submit your AUS recommendation as well as the four documents listed above.
- HomeReady® and Home Possible Advantage®
Radian supports Fannie Mae's HomeReady and Freddie Mac's Home Possible Advantage programs under our One Underwrite guidelines. Learn more »
Fannie Mae's HomeReady and Freddie Mac's Home Possible Advantage programs make it even easier for your borrowers to qualify for a low downpayment loan. And Radian makes it even more affordable. Our lower coverage options under these programs mean big savings for your qualifying borrowers.
HomeReady and Home Possible Advantage Benefits
- Expanded underwriting capabilities include:
- Availability on purchases and LCORs
- CLTV max of 105%
- Acceptable sources of funds for DP and closing costs include gifts, grants, Community Seconds® or Affordable Seconds,® and cash on hand.
- Mortgage Insurance 90.01 to 97%; 25% Coverage; 90% or less; Standard Coverage
- LLPAs waived with 680 score and LTV > 80, max LLPAs 1.5
- Loans with an Approve/Eligible response from DU or an Accept/Eligible response from Loan Product Advisor® are automatically eligible for Radian's One Underwrite program.
View a complete program comparison of HomeReady and Home Possible Advantage. View Now
- Expanded underwriting capabilities include:
- Jumbo Loans
Maximize your impact! Radian's Non-Agency Jumbo and Super Jumbo loan programs help lenders take on bigger customers and larger loans. Learn more »
Primary Residence Purchase; Rate/Term Refinance
Loan amounts to $1,500,000
FICOs starting at 680
Loan amounts to $850,000
FICOs starting at 720
Primary residence to $1,000,000
Second homes to $650,000
For more information view our complete Underwriting Guidelines.
- Medical Professional Program
The Medical Professional Program provides specialized coverage for newly licensed or established medical doctors, medical assistants, surgeons, dentists and oral surgeons for loan amounts up to $850,000. The program is applicable for credit scores beginning at 680.
All eligible Radian-insured 97% LTV loans include the option to register for Radian’s exclusive MortgageAssure job loss protection program at no additional cost to the borrower or lender. Learn more »
MortgageAssure helps borrowers pay their mortgage in the event they are involuntarily unemployed.* Plus, it can help our lending partners increase interest in high LTV conventional financing, while offering a level of default protection that benefits the borrower, lender, and Radian Guaranty.
- Effective for MI applications received on or after May 1, 2015.
- Assists borrowers with their monthly mortgage payments in the event of involuntary job loss.
- Offered at no additional cost to the lender or borrower.
- Available to all lenders. Lenders will have the ability to opt out of the program if they so desire by notifying their account manager.
- Available on all Monthly, Split Edge and Standard Annual products only. Single premium programs are excluded.
- Doubles default protection at no additional cost.
- Adds additional benefit to their borrowers who have opted-in.
- Reduces their borrowers’ risk of late payments or default if the borrower becomes involuntary unemployed.
- Reduces servicing costs associated with late payments and defaults.
- Up to six months of mortgage payments, not required to be consecutive.
- A monthly payment benefit of up to $1,500.
- Total benefit of $9,000 during the coverage period.
- Coverage period of 2 years from the loan closing date.
- Minimizes financial stress by relieving the pressure of late mortgage payments.
- Preserves borrowers’ savings, retirement, college funds.
- All approved Radian Master Policy holders are eligible to participate. Lenders will have the option to opt out of the program.
- Sales will notify Sales Support of lenders who wish to opt out of the program.
- Payments under this program are already being accepted by most servicers and aggregators.
- 95.01% to 97% LTV
- Primary, owner occupied, single family home.
- At least one borrower must not be self- employed.
- Available for Monthly, Split Edge and Standard Annual only.
- Eligible borrowers must visit www.mortgageassure.com to register for this program.
- HARP excluded
- One Underwrite®
Take the guesswork out of MI eligibility and accelerate approval by eliminating double underwriting. Radian’s exclusive One Underwrite is designed to help you close deals faster. By eliminating double underwriting, we save you time and hassle. Learn more »
With One Underwrite, a loan is eligible for Radian MI once it’s been accepted by Fannie Mae’s Desktop Underwriter or Freddie Mac’s Loan Product Advisor and meets these 2 simple overlays:
With a minimum FICO score of 620
3-4 units excluded
It really is that easy! Find more information here.