Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., has integrated with the Prime Alliance loan origination platform, an end-to-end, paperless mortgage technology solution for the credit union industry.
‘Prior to this, Prime Alliance customers had to leave the system to order Radian mortgage insurance,’ explains Tony Bruschi, vice president of secondary marketing at Radian. ‘But with this integration, Radian has further demonstrated its commitment to the credit union segment – 40 percent of which use Prime Alliance for their loan origination needs – and made it easier for their users to leverage the value of Radian's mortgage insurance options."
Through the platform, Radian is offering its exclusive Free After Five product, which allows for automatic mortgage insurance termination after five years, provided the borrower has maintained a good payment history.
Additionally, Prime Alliance customers will automatically qualify for Radian's Platinum Guidelines Program, which offers more flexibility than the company's Standard Guidelines Program.
Bruschi, who was recently appointed a member of the American Credit Union Mortgage Association's Education Committee, also notes that Radian has signed up 225 new credit union master policies since it began working on its Prime Alliance integration in 2008. Currently, the company has 53 active master policies with Prime Alliance customers and will be working to add more within the next year.
SOURCE: Radian Guaranty