Radian Announces Support Of Higher HARP LTV Ceiling

Posted by Orb Staff on July 10, 2009 No Comments
Categories : Residential Mortgage

Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., states the higher loan-to-value (LTV) ceiling for the Home Affordable Refinance Program (HARP) has the company's full support. The LTV ceiling was recently raised from 105% to 125%. ‘For borrowers with Radian-insured loans, we are ready to handle the anticipated increase in volume from the government-sponsored programs or through other lender-initiated refinance or modification programs," Radian Guaranty's president, Teresa Bryce, says. Bryce says the new expanded LTV limits reflect a need for more flexibility as a result of home value declines. "This will allow thousands of additional homeowners who have made their payments on time to lower their monthly payments by refinancing to today's attractive fixed-rate programs," she says. SOURCE: Radian G

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