Radian Teams Up with NYLX

Mortgage insurer Radian Guaranty, Philadelphia, has entered into a partnership with the New York Loan Exchange, which directly incorporates Radian MI into the mortgage pricing and eligibility process across the NYLX platform, which operates a real-time data base of mortgage programs, rates, and guidelines. "For the first time ever, two icons in the industry are joining together to provide a fast and accurate method for determining a loan's complete eligibility, significantly increasing a lender's efficiency," said Radian Guaranty chief operating officer, Jeff Cashmer. "This will be done through the seamless integration of Radian's MI pricing and guidelines into the NYLX platform." The partnership allows Radian and NYLX's customers "to streamline processes and enhance profitability and growth," he said. As part of this partnership, NYLX will include Radian's rates and guidelines in its pricing and eligibility platform so lenders can calculate MI on loans based on real-time market conditions and consequently make better-informed decisions during loan execution. In addition, Radian customers will learn about the NYLX solution and how to maximize profitability through automation, Radian said.