MI Products
Generate more business. Save borrowers money at the closing table. Help qualify homebuyers for a larger loan. Whatever your goals, our industry-leading solutions and highly knowledgeable people will ensure success.
Find the perfect MI solution for every borrower. Radian offers a diverse line of products, including options for lender-or borrower-paid premiums. You can offer monthly payments, a one-time upfront premium, or a combination of monthly and upfront premiums, to best suit the borrowers.
Borrower-Paid Monthly Premium Mortgage Insurance
If a borrower has flexibility in their monthly payment budget, Radian monthly MI can help them afford their dream home sooner by letting them buy with as little as 3% down. Premiums are required to be remitted monthly to maintain coverage.
Borrower-Paid Single Premium Mortgage Insurance
If a borrower has some assets (just not enough for 20% down), but doesn’t have much flexibility with their monthly principal, interest, taxes and insurance (PITI) budget, Radian single premium MI can be a great option. A single premium is an upfront payment which provides the required coverage until the loan reaches 78% LTV. This amount can be paid at closing or financed into the loan.
CustoMIze SplitEdge Mortgage Insurance
CustoMIze SplitEdge® divides the MI premium between an upfront payment and reduced monthly renewals. This option provides you with a range of rates and greater access to upfront and monthly payment choices. Borrowers benefit from:
- A lower monthly payment versus monthly BPMI
- The ability to use the excess funds at closing to reduce the monthly MI payment in a way that works best for their budget
*Not available in all states
Lender-Paid Monthly Mortgage Insurance
With lender-paid MI, the MI premium is paid by the lender, who typically passes the cost on to the borrower through a higher interest rate or origination fee. Non-refundable premium payments are required to be remitted monthly to maintain coverage.
Lender-Paid Single Mortgage Insurance
The lender pays the MI premium on behalf of the borrower; the lender then charges the borrower a higher interest rate or origination fee. The premium is a single upfront payment to provide coverage for the life of the loan. This payment is non-refundable.
MI Online
MI Online is our web-based platform offering a secure environment that facilitates your MI origination, servicing, and Claims management tasks. By using MI Online to support your MI origination and servicing needs, you can:- Obtain a customized rate quote
- Order MI
- Obtain copy of the MI Commitment & Certificate of Insurance
- Activate coverage (monthly deferred only), both individually or in multiples
- View up-to-date records of Premium payment
- Access E-Bill
- Transfer MI servicing
- Cancel Certificates
- Change Lender Loan Numbers
- Submit documents for Underwriting, Early Validation Confident Coverage, Quality Control and Claims
- Submit Claim requests and view status
- View and download Initial Explanation of Benefit (EOB) and/or Supplemental EOB
- Communicate with Radian Customer Care team via live chat and email