Radian Guaranty Inc. is expanding its risk-based pricing. In addition, the mortgage insurer is lowering its single rates on lender-paid mortgage insurance.
A new 760-plus FICO bucket is being added to the single risk-based pricing on lender-paid mortgage insurance,.
In addition, the Philadelphia-based company said that additional FICO buckets are being added for credit scores less than 680.
The updates, which are subject to regulatory approval, were spelled out in Radian eBulletin 2014-4.
Single rates on lender-paid mortgage insurance are being lowered for FICO scores between 720 and 739 and also on 760-plus scores in some loan-to-value ratio ranges.
Single rates on some lender-paid mortgage insurance are being increased, however, for FICOs less than 680.
The updates take effect on Aug. 11.
Full details are online at www.radian.biz.
