Radian Announces Strategic Investment in FinLocker to Focus on Delivering a Personalized Data-Driven Journey to Empower Homeownership
January 11 2024 - 5:30AM
Business Wire
Radian Group Inc. (NYSE: RDN), announced today that it has made
a strategic investment in FinLocker, a personal financial fitness
and homeownership tool. By leveraging advanced technology,
FinLocker aggregates and analyzes a consumer’s financial data,
offering personalized paths to mortgage eligibility and other
financial transactions. Terms of the investment were not
disclosed.
The investment aligns with Radian’s commitment to ensuring the
American dream of homeownership responsibly and sustainably through
products and services that span the mortgage and real estate
spectrum, while also deepening relationships with its customers by
introducing them to unique and relevant solutions to help build
their businesses. FinLocker and Radian’s homegenius business share
a strategic focus on creating a personalized and data-driven
experience for home buyers and sellers, and all the professionals
who guide them to success in their homeownership journey.
FinLocker’s customers primarily include mortgage lenders, banks,
credit unions, and other financial service providers, which
private-label the FinLocker tool with their brand to generate and
nurture leads, stay meaningfully engaged with consumers throughout
their homeownership journey, streamline the mortgage loan process,
and cross-sell value-added products with the goal of creating
customers for life.
“Radian and homegenius relentlessly seek to make homeownership
more easily achievable and to help our business partners accomplish
that goal more efficiently. FinLocker also does both of those
things,” said Radian Chief Executive Officer Rick Thornberry. “As
we continue to help redefine the homebuying process, we are
delighted to invest in innovative companies such as FinLocker which
are leading the way.”
FinLocker empowers consumers to manage their financial life with
financial account management, budgeting, net worth, spending and
cash flow analysis. The platform also offers mortgage and financial
education, credit score monitoring, credit report access, and tools
to improve credit, pay down debt, save for a down payment, track
progress toward mortgage eligibility, and initiate real estate
searches. Importantly, consumers have complete control over the
financial data they share with lenders for loan decisioning,
enhancing privacy and security.
“We see great potential in FinLocker’s business, both in its
mission and its customer-driven approach, and together we can make
homeownership more accessible,” said Eric Ray, Senior Executive
Vice President, Chief Digital Officer and Co-Head of homegenius.
“We are excited about this investment and the opportunity to offer
FinLocker’s services to both Radian and homegenius customers.”
Brian Vieaux, President and Chief Operating Officer, FinLocker,
expressed enthusiasm about the investment, stating, “This
collaboration with Radian marks a significant milestone in our
mission to empower the next generation of mortgage advisors. Our
partnership will enhance our capabilities as a trusted source of
financial preparation, paving the way for aspiring homebuyers to
make informed decisions along their homeownership journey.”
Henry Cason, Chief Executive Officer, FinLocker, added, “Radian
is a leader in the mortgage and real estate services industry, and
we are thrilled by its support of FinLocker’s unique business
offering and execution. We look forward to working with Radian on
the next phase of our development and remain committed to our
shared goal of helping people realize the dream of affordable and
sustainable homeownership.”
About Radian
Radian Group Inc. (NYSE: RDN) 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 radian.com and
homegenius.com to learn more about how Radian and its pioneering
homegenius platform are building a smarter future for mortgage and
real estate services.
About FinLocker
FinLocker provides a secure financial fitness app that
aggregates and analyzes a member’s financial data to offer
hyper-personalized journeys that guide users in building and
monitoring their credit, managing their financial accounts,
budgeting, saving, reducing debt, and improving their mortgage
readiness. Consumers can also initiate their property search and
store personal and financial documents, which can be securely
shared with their loan officer directly from the app to start their
loan application. Mortgage lenders, banks, and credit unions
white-label FinLocker to attract, assist, and educate members, gain
market share, reduce loan processing costs, reduce friction, and
create a lifetime of loyalty. For more information, visit
FinLocker.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111043289/en/
For Investors: John Damian - Phone: 215.231.1383 email:
john.damian@radian.com
For the Media: Rashi Iyer - Phone 215.231.1167 email:
rashi.iyer@radian.com
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