Radian’s Response to Coronavirus (COVID-19)
The health and safety of our employees, customers, and their families is a top priority during this unprecedented time. We thank you all for your continued partnership.
And as news about COVID-19 (Coronavirus) continues to evolve, Radian regularly monitors the World Health Organization (WHO), the U.S. Centers for Disease Control and Prevention (CDC) and other local health and government agencies for the latest updates and guidance.
In response to recent developments, we are enacting a mandatory work-from-home policy for nearly all employees company-wide.
As a result, Radian must implement changes to our mortgage insurance, title insurance, and real estate services processes. Please reference this page for all updates regarding COVID-19.
While this is a challenge that we have never faced before, we remain confident that by working together with our customers and business partners, we will successfully navigate this global crisis and emerge stronger than ever.
COVID-19 Frequently Asked Questions
We recognize the frequency of COVID-19 related updates may be difficult to keep up with, which is why we’ve created this FAQ to help answer the most common questions received and guide you to specific announcements and documentation should you need additional details.Download
Radian Announces COVID-19 Timeline Extensions
July 13, 2020 Radian continues to monitor and provide customers with timely information related to changes in requirements due to COVID-19.
Radian Announces Additional COVID-19 Updates
June 4, 2020 Learn more about Radian’s response to GSE announcements on Borrowers with Existing Mortgage, the Payment Deferral Program, and Self-employment Income Analysis.
Radian Provides COVID-19 FAQs and Latest GSE Alignment
May 14, 2020 In an effort to provide guidance around all of the recent changes pertaining to COVID-19, Radian has created an FAQ document. In addition, Radian is aligning with recent GSE updates that have been announced.
Radian Provides Additional Clarity Regarding Loans in COVID-19 Forbearance Plans
April 29, 2020 Given the increase in borrowers requesting COVID-19 related forbearance plans through the CARES Act, Radian has created COVID-19 policy guidance for our lenders and servicers, which supplements our Underwriting Guidelines and Origination & Servicing Guide.
Radian Covid-19 Servicer Reporting Requirements
April 10, 2020 Radian has worked in collaboration with the MISMO working group, including all MIs, to promote uniformity in servicer reporting requirements for COVID-19 related defaults, forbearance and loss mitigation workouts.
Latest GSE Alignment and Changes to MI Eligibility
April 1, 2020 As our industry continues to grapple with impacts of COVID-19, Radian is aligning with all GSE updates, including new underwriting documentation requirements and additional flexibilities related to loan closings.
Radian Responds to Covid-19 in Support of GSE Updates
March 23, 2020 Recently Fannie Mae and Freddie Mac announced temporary origination and servicing guidelines in response to COVID-19 (Coronavirus). As our customers work to assist new and existing borrowers during this time, Radian is aligned with the GSE origination and servicing updates.
Changes to Radian Payment Process Amid COVID-19
March 17, 2020 In response to recent developments, Radian has implemented a company wide virtual work-from-home model, which is now required for our Philadelphia-based employees. As a result, Radian must implement changes to our premium payment process. These changes are effective immediately and will be in place until further notice.
March 17, 2020
We realize that this is a time of constantly changing circumstances as the facts and forecasts related to COVID-19 continue to evolve. We want to assure you that our team is working hard to continue to provide the service you have come to expect from Radian. In these unprecedented times, our signing agent partners are following the National Notary Association’s important health and safety guidance for Signing Agents, mobile Notaries and signers/borrowers amid growing concerns over COVID-19.
In addition, we are continuing to monitor the temporary closures of county offices, impacting the ability to perform title searches and record documents. Radian Settlement Services is expeditiously reviewing the guidance of our panel of underwriters including bulletins issued by Radian Title Insurance in order to provide the most up to date information to our clients. Today, we are open for business as usual.
Our team will communicate with you on any updates or changes that may be necessary. In the meantime, please do not hesitate to contact your Radian representative and learn how we can help facilitate closings through innovative solutions.
Real Estate Services
Radian Supports GSE Updates in Response to COVID-19
Last updated: June 11, 2020
Recently Fannie Mae and Freddie Mac announced temporary origination and servicing guidelines in response to COVID-19 (Coronavirus). As our customers work to assist new and existing borrowers during this time, Radian and our family of companies are aligned with the GSE updates, which include temporary appraisal requirement flexibilities for loan applications dated on or before July 31, 2020.
- Clients should continue to place interior product orders as necessary.
- If the appraiser cannot obtain interior access, we will reach out to the client to confirm whether a desktop appraisal is acceptable for the loan situation.
- We will only proceed with a desktop appraisal upon approval from our clients.
Pennsylvania Allowing Interior Inspections State-Wide
Last updated: May 20, 2020
On May 19, 2020, Governor Tom Wolf issued updated guidance allowing in-person home showings, appraisals, inspections, and other real estate activity to resume throughout Pennsylvania under certain COVID-19 safety guidelines. Under this updated guidance, which is available here, appraisers are permitted to conduct in-person inspections so long as they strictly adhere to safety protocols, which include, but are not limited to, the following:
- All applicable provisions of the Guidance for Businesses Permitted to Operate During the COVID-19 Disaster Emergency to Ensure the Safety and Health of Employees and the Public.
- Every person present at the property must wear masks/face coverings.
- In-person inspections must be scheduled by appointment and records of all appointments, including contact information for all participants, must be maintained.
- No more than the real estate professional and two people may be inside the property at any time, exercising appropriate social distancing.
Under Governor Wolf’s updated guidance, real estate professionals are encouraged to minimize in-person activities and limit attendance to the most critical individuals, while maintaining social distancing.
The safety of our communities and real estate professionals is our primary concern. We are closely monitoring the situation in PA and all other states to remain fully compliant with government orders.
Impacts to Interior Products in Pennsylvania and Phased Reopening Plan
Last updated: May 7, 2020
We are monitoring the lifting of emergency restrictions on businesses across the country and will continue to follow appropriate guidance for interior appraisals and other in-person activity.
- For contracts dated after March 18, 2020, interior inspections are prohibited – only exterior or desktop valuations can be performed.
- Refinance and home equity loan transactions may only use Drive-By, Desktop-Only Appraisals, or exterior BPOs.
- Commercial appraisals are included in the same set of guidelines.
Residential Property Valuations
March 17, 2020
We want to assure you that our team is working hard to continue to provide the service you have come to expect from the Radian family, including our subsidiaries Red Bell Real Estate, LLC and Independent Settlement Services, LLC.
During this challenging time, please know we are here and working hard to continue providing the service you have come to expect from us. Should you have any questions, please contact us.
877.RADIAN1 (723.4261) Hours M-F 8 a.m. – 8 p.m. Eastern Time
800.646.8258 ext. 8245
Radian's CEO Message on COVID-19
Read CEO Rick Thornberry's message to customers.
Radian COVID-19 Press Release
Radian COVID-19 Statement
Read our statement on COVID-19 Preparedness.
Read our eBulletins
Radian rate changes, guidelines, system and company policies
Read our Servicer Alerts
Radian MI Servicing and Loss Management updates