Radian Guaranty launches new program to keep more people in their homes: New Servicer Advocacy Group created to reduce foreclosuresMortgagePress.comRadian Guaranty, Servicer Advocacy Group, foreclosures, Radian Group Inc., loan workouts Radian Guaranty, the mortgage insurance subsidiary of Radian Group Inc., has announced that it has established the Servicer Advocacy Group, a new program aimed at keeping more homeowners in their homes. Under the new program, Radian will lend its considerable expertise in loan workouts and loss mitigation to mortgage servicers, helping them craft creative and flexible solutions that will help distressed homeowners remain in their homes. "The number one goal of this program is to help keep more homeowners in their homes, especially important during this turbulent time," said Cam Melchiorre, senior vice president, loss management for Radian Guaranty. "We will work closely with mortgage servicers to make sure they have access to a wide range of products and services that can help homeowners who are struggling. As a mortgage insurer, we have a vested interest in keeping homeowners in their homes. We also have sophisticated resources to assist with workouts. By applying a structured regional approach to the unique real estate needs of affected communities, we look forward to a win-win-win solution that benefits homeowners as well as servicers and Radian." The Servicer Advocacy Group will be organized into three regions: Western, Eastern and Central. Each region will be led by a vice president of servicer advocacy. The Western region will be run by Liz Johnson. The East region will be managed by Chris Wagner, and Connie Childs will oversee the Central region. All three of the VPs will report to Cam Melchiorre. The regions will be supported by regional servicer advocacy representatives. These representatives will work directly with servicers to implement a custom-designed "Servicer Solution Set," a set of loss mitigation tools designed to meet each servicer's specific needs. The "Servicer Solution Set" includes: Radian FastAdvance: A default solution that provides quick, partial claims advances. Servicers can use these advances to assist distressed borrowers by modifying the terms of a loan or structuring a customized repayment plan, for example. Consumer Credit Counseling Service of Delaware Valley (CCCS-DV): A partnership with one of the most highly regarded independent, non-profit counseling services in the nation. Struggling borrowers have access to comprehensive consumer credit education, counseling, asset building and debt reduction programs. Radian covers all counseling costs. On-Site Loss Mitigation Representatives: Radian places loss mitigation representatives directly in a servicer's office to personally assist in reviewing borrower financial packages and determine appropriate workout solutions. Loss Management Sponsored Servicer Training: Radian provides a servicer's employees with training on skills such as Loss Mitigation, Negotiations and Workout Programs, helping servicers become more familiar with tools that can help homeowners keep their homes. In addition, the Servicer Advocacy Group will work directly with Radians corporately located loss mitigation specialists to source, propose and close workout transactions, with an emphasis on retention workouts. "Radian's Servicer Advocacy Group is an important and bold program that we believe will preserve home ownership for many homeowners," said Melchiorre. "These trying times require creative solutions, and we look forward to partnering with our servicer clients on behalf of homeowners across the nation." For more informaiton, visit www.radian.biz.