Radian expands MI online claim functionality MortgagePress.comRadian Guaranty, mortgage indurance, Web-based applications, MI Online
Radian Guaranty, the primary mortgage insurance subsidiary of
Radian Group Inc., has announced that it has enhanced the
functionality of its MI Online Web-based system for mortgage
insurance ordering, servicing and claims submissions.
Designed to streamline the claims process and create an improved
online experience, the enhancements now allow clients to view their
claims 24/7, review outstanding documentation requirements, access
a more detailed Explanation of Benefits (EOB), and access real-time
information on payment status.
The MI Online site now contains these new features:
• A new "Claim Status" tab has been added to the Claim
Center area, directing clients to two sections entitled "Claim
Status Information" or "Claim Payment Information."
• The "Claim Status Information" section allows authorized
clients to review a snapshot of a claims details, including
processing status, which will also indicate any missing or
outstanding documents required to "perfect" the claim.
• The "Claim Payment Information" section displays three
key pieces of data for paid claims (claim payment, date paid and
payee), while a new hyperlink to the main Certificate Inquiry
screen will access additional certificate/premium level
information.
A fully redesigned, user-friendly EOB in PDF format is now
available on both the "Paid Claims" and "Claims Withdrawn for Gain
on Sale" statuses. This new EOB is available for all insurance
types (primary, pool and modified pool). The EOB icon will appear
at the top of the "Claim Status" page when the claim has been paid
or withdrawn for gain on sale.
For the first time, Radian's EOB is displayed in a side-by-side,
submitted vs. authorized format, which is available on all claims
submitted via an EDI 260 or MI Online. Claims filed in paper form
only display the authorized data.
"These enhancements provide our clients with online functions
that are informative, easy to use, and most importantly, offer 24/7
access," says Paul Fischer, executive vice president of loss
management at Radian Guaranty. "This information will minimize the
need for calls and emails to the Radian Claims team, streamline the
processes for our clients, and save them valuable time."
For more information, visit www.radian.biz.
