Radian Launches New Mortgage Insurance Master Policy

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., is launching its new Master Policy for all new mortgage insurance applications, effective March 1, 2020. The new policy was crafted in conjunction with the U.S. Mortgage Insurers (USMI) and its members along with the government-sponsored enterprises (GSEs) to provide lenders and servicers with a uniform and straightforward document that is consistent across nearly all mortgage insurers, eliminating the need to evaluate and compare multiple policies. Radian Guaranty’s policy was last updated in 2014. The most notable change in the new Master Policy is the incorporation of the Amended and Restated GSE Rescission Relief Principles, which Fannie Mae and Freddie Mac finalized in September 2018. These principles include: