Radian has integrated its mortgage insurance quoting capabilities with Lender Price, giving mortgage originators and lenders access to Radian pricing without leaving the product and pricing engine.
The integration puts mortgage insurance costs closer to the point at which originators evaluate loan programs, interest rates, and a borrower’s prospective monthly payment. Lender Price says its platform has more than 400 customers and partners, supports more than 130,000 loan products, and has processed more than $300 billion in locked-loan volume.
For originators structuring conventional loans with private mortgage insurance, the integration could eliminate a separate visit to Radian’s quoting system. Users can access quotes generated through RADAR Rates, Radian’s proprietary risk-based pricing model, or use Radian’s traditional rate cards.
RADAR Rates analyzes individual loan and borrower characteristics to generate mortgage insurance pricing based on the risk profile and attributes of the loan, according to Radian.
“Today’s lenders expect pricing tools that are fast, intuitive, and integrated into the platforms they use every day,” said Steve Keleher, co-head of mortgage insurance at Radian Guaranty. “By bringing Radian’s mortgage insurance quoting capabilities to Lender Price, we’re making it easier for customers to access competitive rates.”
Private mortgage insurance can materially affect the total monthly payment on a low-down-payment conventional loan. Having the MI quote available while pricing the mortgage gives originators a more complete cost picture when evaluating loan scenarios and discussing affordability with borrowers.
“At Lender Price, our focus is helping lenders simplify complex pricing decisions through modern, highly scalable and flexible technology,” said Paul Orlando, chief strategy officer at Lender Price. “Integrating Radian’s mortgage insurance quoting capabilities powered by RADAR Rates into our platform gives lenders seamless access to a trusted MI provider as part of a unified origination experience.”
Lender Price serves banks, independent mortgage lenders, credit unions, wholesale lenders, correspondent lenders, and mortgage brokers. Its enterprise pricing engine includes product eligibility, loan-level price adjustments, margin management, compliance checks, lock-desk automation, and pipeline monitoring.
The Radian integration continues the broader movement toward consolidating pricing and related loan costs within the systems originators already use. For Radian, it also creates another distribution point for its mortgage insurance pricing at the moment a lender or originator is deciding how to structure a loan.
