Published: May 20, 2010
"Radian Is Ready" Campaign Reinforces Company's Ability to Write More Business as Markets Recover
PHILADELPHIA - (BUSINESS WIRE) - Radian Guaranty Inc., the private mortgage insurance (MI) subsidiary of
Radian Group Inc. (NYSE:RDN), today announced the launch of a
broad-spectrum marketing campaign, "Radian Is Ready." Designed with
mortgage lenders in mind, the new campaign highlights Radian's readiness
for writing new MI business, as well as the company's position as a
compelling alternative to FHA, the government's mortgage insurance
product. The campaign reaches out to lenders through a custom website at www.RadianIsReady.com,
which features the President of Radian's MI business, Teresa Bryce, as
well as sample scenarios and a video
featuring the benefits of private versus government-funded MI.
"Now more than ever, Radian is committed to being the partner our
lenders need to originate profitable business and promote homeownership
for low downpayment borrowers," said Bryce. "Not only do we have the
capacity to write more business, but we also believe we have the
guidelines, products and financial stability to help lenders compete and
win business in the midst of a recovering economy."
In today's recovering market, Radian is working to educate lenders on
the competitive advantages of providing borrowers with flexible MI
payment options over the FHA's one product approach. Radian's diverse
line of products, including single (or single-financed) premium MI, is
an especially appealing alternative to the FHA's high upfront premiums
by offering lower monthly payments and minimal funds needed at closing.
With single premium MI, borrowers pay a one-time lump sum payment, or,
if they do not have sufficient funds at closing, Radian's
single-financed premium allows them to finance their MI payment into the
loan amount. Additional borrower benefits include:
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Qualification for a larger loan due to the lower payment;
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A tax-deductible MI premium;
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A single monthly payment;
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Monthly payments that never vary;
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The lowest MI cost option for most consumers.
Lender benefits for this type of MI include the possibility of
attracting more borrowers, increased profitability, more loan closings,
reduced servicing costs and larger servicing values due to larger loan
amounts.
Radian offers a variety of other cost-effective MI solutions, including
borrower-paid MI, where the borrower pays the MI premium monthly;
lender-paid MI, where lenders pay the MI premium on the borrower's
behalf and charge a slightly higher interest rate; and SplitEdge, where
the MI cost is split into an upfront premium and a reduced monthly
renewal. All of these products offer specialized advantages to both
borrowers and lenders. The cost benefits of each product are available
via the Radian Decision calculator, an educational tool that enables
lenders to compare payment amounts and loan costs to choose the best MI
option for their borrower.
From low upfront premiums to multiple MI options, Radian offers an
unparalleled level of flexibility, less time and cost for processing,
lower monthly payments, increased borrower savings over time and larger
loan amounts. With the launch of the "Radian Is Ready" marketing
campaign, the company will continue to educate lenders on the many
benefits of private MI, helping them develop a better balance between it
and FHA. For more information, please visit www.RadianIsReady.com.
About Radian
Radian Group Inc. (NYSE:RDN), headquartered in Philadelphia, provides
private mortgage insurance and related risk management products and
services to mortgage lenders nationwide through its principal operating
subsidiary, Radian Guaranty Inc. These services help promote and
preserve homeownership opportunities for homebuyers, while protecting
lenders from default-related losses on residential first mortgages and
facilitating the sale of low-downpayment mortgages in the secondary
market. Additional information may be found at www.radian.biz.
Forward-Looking Statements
Some of the statements in this press release may constitute
"forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995. These statements are
based on our current expectations, estimates and projections. Words such
as "will," "expects," "believes" and similar expressions are used to
identify these forward-looking statements. These statements are only
predictions and as such are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to
predict. Forward-looking statements are based upon assumptions as to
future events or our future financial performance that may not prove to
be accurate. Actual outcomes and results may differ materially from what
is expressed or forecast in these forward-looking statements. As a
result, these statements speak only as of the date they were made, and
we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. For more information regarding the risks and
uncertainties that we face, you should review the risks described under
Item 1A, "Risk Factors" under our Quarterly Report on Form 10-Q for the
period ended March 31, 2010 and subsequent reports filed with the
Securities and Exchange Commission.
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Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz
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