Radian Guaranty, the mortgage insurance (MI) subsidiary of Radian Group Inc., announced that it has formed a partnership with NYLX (New York Loan Exchange)--which operates one of the nation's largest real-time databases of mortgage programs, rates, and guidelines--to incorporate Radian MI directly into the mortgage pricing and eligibility process.
As part of this partnership, NYLX will include Radian's rates and guidelines in their industry leading pricing and eligibility platform to calculate MI on loans, enabling lenders to adapt to mortgage and MI market conditions in real-time, make smarter decisions and achieve better execution on their loans. In addition, Radian will educate customers on the value of the NYLX solution and how to maximize profitability through automation.
John Alexander, President of NYLX states, "The new relationship with Radian is an exciting one that will provide great value for our customers. I can't think of a better partner than Radian. For the last year, our teams have worked to develop a shortterm and long-term strategy which we believe will add significant value and efficiencies to the mortgage industry."
"For the first time ever, two icons in the industry are joining together to provide a fast and accurate method for determining a loan's complete eligibility, significantly increasing a lender's efficiency. This will be done through the seamless integration of Radians MI pricing and guidelines into the NYLX platform," Jeff Cashmer, chief operating officer of Radian Guaranty said.
"As a leader in the MI industry, Radian continues to introduce its clients to efficiency driven solutions. This partnership allows Radian and NYLX's customers to streamline processes and enhance profitability and growth," added Cashmer.
Alexander added, "At NYLX, we look to partner with innovative and customer centric organizations and Radian definitely fits the mold. Radian has consistently demonstrated that their customers always come first and providing real value is a must. Our mutual clients will benefit from this first of a kind offering."