AREAA Partners with Radian to Enhance Lending Options for Asian American Consumers
PHILADELPHIA--(BUSINESS WIRE)--Asian Real Estate Association of America (AREAA), has entered into a two-year exclusive partnership with Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. Through this partnership, Radian and AREAA will focus on creating broader lending options for Asian American consumers, including the associations 14,000 members.
Access to innovative financing solutions is critical in todays mortgage environment, said Carmen Chong, 2015 Chairman of AREAA. In order to better serve the Asian American community more effectively, we need to educate real estate professionals about various mortgage options as well as continue to develop relevant mortgage products. AREAA is proud to partner with Radian to make this important effort possible.
Under the agreement, Radian is working with AREAA and its local leaders to educate AREAA members on the benefits of mortgage insurance and to create tools to help Asian American consumers make the best mortgage decisions.
Radian and AREAA share the desire to create lending options for Asian American housing consumers that meet their unique needs, said Brien McMahon, Radians Chief Franchise Officer. The Asian American community has been a large user of conventional conforming mortgage product for some time now. Through our partnership, we are looking at ways to provide information to Asian homebuyers about taking advantage of the full range of mortgage options and not delaying homeownership in todays strong housing market.
Since 2000, Asian Americans have been the fastest growing group in the United States with the highest household income in the country. Nearly two thirds of the Asian American population are foreign born and the demand for culturally relevant products is strong. Within the next two years, Asian American purchasing power will top $1 trillion.
Radian is the only private mortgage insurance partner for the Association through 2016. This will give the Philadelphia-based private mortgage insurer prominent visibility at the Associations annual convention, its policy meetings http://www.getfastcapital.com/ and chapter events across the country.
The Asian Real Estate Association of America (AREAA), established in 2003, is a national business trade organization focused on expanding housing opportunities for Asian American communities and creating business opportunities for real estate business leaders who serve this growing market. With over 14,000 members in 37 chapters across North America, AREAA is the largest real estate trade association focused exclusively on facilitating cross-border transactions between Asia and the United States.
Radian Group Inc. (NYSE:RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:
Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance protects lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
Mortgage and Real Estate Services, through its principal services subsidiary Clayton Holdings LLC, as well as Green River Capital and Red Bell Real Estate. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.
Additional information may be found at www.radian.biz.