AREAA Partners with Radian to Enhance Lending Options for Asian American Consumers
Agreement Makes Radian the Exclusive Private Mortgage Insurer Partner to
AREAA
PHILADELPHIA--(BUSINESS WIRE)--Sep. 29, 2015--
Asian Real Estate Association of America (AREAA), has entered into a
two-year exclusive partnership with Radian Guaranty Inc., the mortgage
insurance subsidiary of Radian Group Inc. Through this partnership,
Radian and AREAA will focus on creating broader lending options for
Asian American consumers, including the association’s 14,000 members.
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“Access to innovative financing solutions is critical in today’s
mortgage environment,” said Carmen Chong, 2015 Chairman of AREAA. “In
order to better serve the Asian American community more effectively, we
need to educate real estate professionals about various mortgage options
as well as continue to develop relevant mortgage products. AREAA is
proud to partner with Radian to make this important effort possible.”
Under the agreement, Radian is working with AREAA and its local leaders
to educate AREAA members on the benefits of mortgage insurance and to
create tools to help Asian American consumers make the best mortgage
decisions.
“Radian and AREAA share the desire to create lending options for Asian
American housing consumers that meet their unique needs,” said Brien
McMahon, Radian’s Chief Franchise Officer. “The Asian American community
has been a large user of conventional conforming mortgage product for
some time now. Through our partnership, we are looking at ways to
provide information to Asian homebuyers about taking advantage of the
full range of mortgage options and not delaying homeownership in today’s
strong housing market.”
Since 2000, Asian Americans have been the fastest growing group in the
United States with the highest household income in the country. Nearly
two thirds of the Asian American population are foreign born and the
demand for culturally relevant products is strong. Within the next two
years, Asian American purchasing power will top $1 trillion.
Radian is the only private mortgage insurance partner for the
Association through 2016. This will give the Philadelphia-based private
mortgage insurer prominent visibility at the Association’s annual
convention, its policy meetings and chapter events across the country.
About AREAA
The Asian Real Estate Association of America (AREAA), established in
2003, is a national business trade organization focused on expanding
housing opportunities for Asian American communities and creating
business opportunities for real estate business leaders who serve this
growing market. With over 14,000 members in 37 chapters across North
America, AREAA is the largest real estate trade association focused
exclusively on facilitating cross-border transactions between Asia and
the United States.
About Radian
Radian Group Inc. (NYSE:RDN), headquartered in Philadelphia, provides
private mortgage insurance, risk management products and real estate
services to financial institutions. Radian offers products and services
through two business segments:
Mortgage Insurance, through its principal mortgage insurance
subsidiary Radian Guaranty Inc. This private mortgage insurance protects
lenders from default-related losses, facilitates the sale of
low-downpayment mortgages in the secondary market and enables homebuyers
to purchase homes more quickly with downpayments less than 20%.
Mortgage and Real Estate Services, through its principal services
subsidiary Clayton Holdings LLC, as well as Green River Capital and Red
Bell Real Estate. These solutions include information and services that
financial institutions, investors and government entities use to
evaluate, acquire, securitize, service and monitor loans and
asset-backed securities.
Additional information may be found at www.radian.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150929005973/en/
Source: Radian
For AREAA
Scott Berman
Sberman@areaa.org
or
For
Radian:
Emily Riley, (215) 231-1035
emily.riley@radian.com
