Radian Mortgage Insurance

Short Sale Report

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Always read your approvals VERY carefully when they are coming from a MI company. Terms have a way of changing.

The five largest MI companies have recently been downgraded. They could become increasingly difficult to work with since their is no incentive to solve the problem early. If they approve a short sale now as opposed to cover the loss at a later date with a trustee sale they may choose to wait to take the loss. Although not really a "lender" mortgage insurance (MI) companies like Radian may have a stake in the Short Sale at least on covered loans. We are talking, in most cases, about MI coverage that was purchased, or paid for, by the beneficiary (lender) - we are not talking about traditional borrower paid mortgage insurance. Old Republic generally demands 20% of the outstanding lien (usually it's the junior lien) from the borrower. is the only way to describe most demands made by mortgage insurance companies when their cooperation is being requested to get a Short Sale closed. We continue to have more than occasional success when we attack the challenge head-on. It is time consuming. Particularly in those cases where the debt in non-recourse, you can be successful when battling with MI companies, including Radian. Just make sure you start early and have a big cup of coffee.

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Comments

I think so in life every body in life have do the home insurance because it will recover the damage after any ki9nd of the disasters you are face it doesn't make any difference.

My daughter is selling in a short sale Radian outsourcings it collectors and they want 20,000 from her or they will not work with USBank to make the sale. They were very unfriendly sounding much like a "collection agency". Scary.

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