Radian introduces new MI option.PHILADELPHIA-BASED RADIAN ra·di·an n. Abbr. rad A unit of angular measure equal to the angle subtended at the center of a circle by an arc equal in length to the radius of the circle. GUARANTY As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Inc. has introduced a new mortgage insurance (MI) product, Free After Five, which automatically cancels after five years. Free After Five rewards borrowers with automatic cancellation of their monthly MI payment and continues coverage for the lender until MI is no longer needed. For homeowners with good credit and a clean payment history, Free After Five offers the ease and security of automatic MI cancellation in exchange for a slightly higher monthly payment, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Radian. Coverage continues for the lender or servicer until the mortgage reaches 78 percent loan-to-value (LTV LTV See: Loan-to-value ratio ), at no cost to the borrower. |
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