Radian Plans to Accelerate Digital Transformation Across the Mortgage and Real Estate Marketplace in 2021
February 18 2021 - 3:30PM
Business Wire
Radian Builds Upon Year of Innovations that
Included Launch of RADAR® Rates, MyRadian, Radian Ready and Radian
HPI
Following the most transformative year of digital innovation in
the company’s history, Radian Group Inc. (NYSE:RDN) Senior
Executive Vice President, Chief Digital Officer and Co-Head of Real
Estate Eric Ray predicted that digital innovation in the mortgage
and real estate services sectors will continue to accelerate in
2021, driving new and better ways to manage credit risk and execute
real estate transactions.
“In so many ways, 2020 was a year of disruption, and we believe
2021 is set to be a year of transformation, powered by technology.
Over the course of this year, data, analytics and technology are
poised to transform legacy mortgage and real estate business models
in even greater ways than we have seen over the past few years. The
global pandemic has accelerated the demand and need for digital
products and services, and we think it will continue to push our
industry to deliver new and better ways to manage credit risk and
execute real estate transactions.
“For instance, we expect that artificial intelligence is on the
cusp of fundamentally transforming the future of valuing and
searching for a home; mortgage insurance pricing continues to
evolve dynamically; and the title insurance approval timeline is
expected to shrink even further. These advancements will allow
lenders to develop deeper engagement with their existing and
potential customers at the start of their home buying or selling
journeys and create a more personalized experience. At Radian, we
are at the forefront of advancing this exciting new future and
looking forward to applying these technologies as we serve
customers across the housing finance and real estate services
ecosystem.”
A new video from Radian provides an overview of some of the
company’s recent technology-driven innovations that it plans to
continue to build upon in 2021. Those innovations include:
- RADAR® Rates: Leverages Radian’s proprietary modeling to
dynamically analyze and customize mortgage insurance pricing. RADAR
Rates launched in 2019 and was integrated into Radian’s enhanced
Rate Finder tool on the new radian.com website in 2020.
- Radian Ready: Offers unparalleled user experience and
automation, powered by next-generation digital technologies and an
Artificial Intelligence (AI)-enabled decision engine.
- MyRadian: Provides a simple, modern digital experience
for valuations and asset management clients to place, track and
manage orders 24/7.
- Radian Home Price Index (HPI): Combines the power of
deep data resources, offered by Red Bell, a subsidiary of Radian
Group Inc., valuations experience and advanced machine learning
techniques to reinvent real estate market intelligence. Clients can
use HPI to manage risk, identify opportunities, support real estate
transactions and track trends with the industry’s most granular and
timely look at housing markets.
- Robotic Process Automation (RPA): Utilizes a
series of “bots” to help eliminate time-consuming, critical yet
repetitive processes such as reviewing loan applications, sourcing
broker price opinions and processing home closings. It enables
Radian employees to spend more time on the most interesting,
complex aspects of their jobs.
This year the company has already launched a powerful new HPI
visualization and analysis tool, which enables users to quickly
generate actionable intelligence on U.S. national and local housing
market conditions with precision and granularity. Over the course
of 2021, Radian’s HPI – already the most comprehensive and timely
measure of U.S. housing market prices and conditions – will
increasingly leverage computer vision technology to glean even
greater insight from data sources like photographs of home
interiors.
To preview some of the company’s planned advancements in
mortgage services, Radian’s Chief Technology Officer, Mark Wai,
will participate in a “Mortgage Disruption Outlook” panel at
HousingWire’s Spring Summit on March 4, 2021.
Forward-looking Statements
All statements in this press release and the embedded weblinks
that address events, developments or results that we expect or
anticipate may occur in the future are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Exchange Act and the U.S. Private Securities
Litigation Reform Act of 1995. In most cases, forward-looking
statements may be identified by words such as “anticipate,” “may,”
“will,” “could,” “should,” “would,” “expect,” “intend,” “plan,”
“goal,” “contemplate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “seek,” “strategy,” “future,” “likely” or
the negative or other variations on these words and other similar
expressions. These statements, which may include, without
limitation, projections regarding our future performance and
financial condition, are made on the basis of management’s current
views and assumptions with respect to future events. Any
forward-looking statement is not a guarantee of future performance
and actual results could differ materially from those contained in
the forward-looking statement. These statements speak only as of
the date they were made, and we undertake no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Our ability to
develop, launch and implement new and innovative technologies and
digital solutions is subject to risks and uncertainties, including,
without limitation, challenges associated with new and rapidly
evolving technologies and business environments, customer
acceptance of our digital product and service offerings, the costs
associated with the development and launch of these technologies
and products, our failure to successfully integrate new
technologies into our existing systems and the risk that our
digital product and services offerings fail to operate as expected
or planned or that expose us to additional cybersecurity or third
party risks. We operate in a changing environment where new risks
emerge from time to time and it is not possible for us to predict
all risks that may affect us. The forward-looking statements, as
well as our prospects as a whole, are subject to risks and
uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements.
For more information regarding these risks and uncertainties as
well as certain additional risks that we face, you should refer to
the Risk Factors detailed in Item 1A of our 2019 Form 10-K, and to
subsequent Quarterly Reports on Form 10-Q and other reports filed
from time to time with the SEC. We caution you not to place undue
reliance on these forward-looking statements, which are current
only as of the date on which we issued this report. We do not
intend to, and we disclaim any duty or obligation to, update or
revise any forward-looking statements to reflect new information or
future events or for any other reason.
About Radian
Radian is ensuring the American dream of homeownership
responsibly and sustainably through products and services that
include industry-leading mortgage insurance and a comprehensive
suite of mortgage, risk, title, valuation, asset management and
other real estate services. We are powered by technology, informed
by data and driven to deliver new and better ways to transact and
manage risk. Visit www.radian.com to see how Radian is shaping the
future of mortgage and real estate services.
Radian HPI is provided by Red Bell Real Estate, LLC, a
subsidiary of Radian Group Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20210218005986/en/
For the Media: Rashi Iyer – Phone: 215.231.1167 Email:
rashi.iyer@radian.com
For Investors: John Damian – Phone: 215.231.1383 Email:
john.damian@radian.com
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