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FHA Streamline K: Help real estate agents close more sales

National Mortgage Professional
Jul 01, 2008

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 A fully redesigned, user-friendly EOB in PDF format is now available on both the "Paid Claims" and "Claims Withdrawn for Gain on Sale" statuses.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 The EOB icon will appear at the top of the "Claim Status" page when the claim has been paid or withdrawn for gain on sale.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.
Published
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