Radian Product Is 'Free after Five'

Radian Guaranty here has introduced a new mortgage insurance product that automatically cancels a consumer's monthly MI payment after five years and continues coverage for the lender until MI is no longer needed.

"Our goal is to help lenders manage their risk while meeting the demands of the market," said president and chief operating officer Roy Kasmar in a company news release. "Homebuyers are asking for mortgage products that are easy to use and offer them added value. For borrowers with good credit, 'Free After Five' is an excellent MI option."

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