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February 22, 2008
Insurer Radian Trying to Keep Borrowers in Homes
Radian Group has rolled out a national pilot program with five mortgage servicers to pay 15 percent--or up to $15,000--to a lender to work out terms with a borrower; the company also is forgoing repayment of the advance. The company is facing about $1 billion in mortgage claims this year and expects to pay $200 million in claims in the first quarter, compared with $94 million a year ago.
Posted by S. Germain at February 22, 2008 08:06 AM