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New housing site provides state and local governments with forclosure tools

National Mortgage Professional
Jun 05, 2008

Radian Guaranty launches new Web site to help homeowners in mortgage default MortgagePress.comdefault situations, Consumer Credit Counseling Service of Delaware Valley Designed to help troubled borrowers identify available options Radian Guaranty Inc., the primary mortgage insurance subsidiary of Radian Group Inc., has announced the launch of a new Web site to educate and assist homeowners in distress. Currently online and active, is designed to provide homeowners having difficulty paying their mortgages with helpful information about the various workout options and solutions that may be available to them. While the site is primarily intended for borrowers with Radian-insured loans, any borrower may find the available information useful. "Whether the borrower intends to retain or sell their property, we believe it is important that they be made aware of every option," said Paul Fischer, executive vice president of loss management at Radian. "These are difficult financial times, and we are committed to working with our lenders, servicers and borrowers to help resolve as many of these default situations as possible." The Web site prompts homeowners with Radian-insured loans to enter pertinent information about their circumstances and presents various options customized to best resolve their specific situations. The site also contains links to Radian's corporate Web site and to the Web site of the Consumer Credit Counseling Service of Delaware Valley, which is partnering with Radian to provide credit counseling for borrowers nationwide. Through the Web site, borrowers can be referred directly to the Radian Loss Mitigation team or to the Consumer Credit Counseling Service of Delaware Valley so that a customized workout arrangement can be considered. "Increased borrower contact, education and financial assistance are critical in resolving default situations," said Fischer. "Radian has taken a number of recent steps, including the launch of our unique Radian FastAdvance program, our partnership with the Consumer Credit Counseling Service of Delaware Valley and this new borrower education Web site to increase the likelihood of a resolution for homeowners in a difficult position." For more information, visit
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