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Radian to Insure Non-Traditional Credit Borrowers

Mortgage News

Radian Guaranty Inc. has unveiled plans to insure residential loans to borrowers who are required to rely on non-traditional credit.

The mortgage insurance company said that it is supporting non-traditional credit through non-delegated underwriting submissions.

Initially, applications will need to be submitted through MMI Online’s “Quick Submit” option or emailed to
[email protected].

But, according to
Radian eBulletin 2016-5 issued Friday, the Philadelphia-based firm is working on supporting the submission of non-traditional credit M.I. applications through other methods — including delegated submissions.

Radian noted that
the move is being made in support of Fannie Mae’s Desktop Underwriter version 10.0.

However, Fannie on Friday disclosed that it is
delaying implementation of DU 10.0 due to issues experienced with the testing environment. No new release date has been set yet.

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