Radian in H.K. Deal
Mortgage insurer Radian Group Inc., Philadelphia, has formed a partnership with Standard Chartered Bank (Hong Kong) Ltd. here.
"Through this partnership, Radian will become the exclusive provider of mortgage insurance for Standard Chartered," the MI company said.
Radian said its MI allows Standard Chartered to give borrowers "a number of loan options, including customized repayment plans, loan-to-value levels up to 95% and faster loan processing."
"By working with Radian, we can now offer customers our novel mortgage product, which awards them with more flexibility and financial freedom," said Andy Hon, Standard Chartered's general manager, mortgages and auto.
Andrew Rippert, senior vice president and head of international mortgage operations at Radian, told this publication that the transaction benefits Radian by allowing the company to further its efforts to internationally expand and diversify its business.
Jardine Lloyd Thompson Hong Kong advised Radian and Standard Chartered during the partnership development process.
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