WASHINGTON, July 28, 2014 /PRNewswire/ --The National Association of Real Estate Brokers (NAREB) has entered into a two-year partnership with Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. (NYSE: RDN). The partnership, which could be extended beyond 2016 by mutual agreement, will provide training on private mortgage insurance solutions to the NAREB 93-chapter network.
"Radian is an excellent partner and the timing for this strategic partnership couldn't be better," said Donnell Spivey, NAREB's President. "As more African American and other minorities buy homes, many families unable to afford the requisite 20 percent downpayment will need private mortgage insurance. We're preparing NAREB members to educate buyers on this product."
Under the agreement, Radian will develop a nationwide training program that educates NAREB member agents ("Realtists") and lenders about private mortgage insurance through on-demand training, face-to-face sessions, video and interactive webinars so they can, in turn, better inform their consumers.
"Both Radian and NAREB share a mutual commitment to ensure that minority homeowners realize the American dream of homeownership in a sustainable way," said Brien McMahon, Radian's Chief Franchise Officer. "Minorities are critical to the recovery of the housing market and the U.S. economy and Radian will work directly with NAREB to provide consumers with information, tools and resources to make the right choices."
According to the Harvard Joint Center on Housing Studies' report on the State of the Nation's Housing, minorities will constitute nearly 13 million of the 17 million new households formed from 2010 to 2025. The partnership comes at a crucial time when minority homeownership rates have dropped sharply and in particular, the gap between black/white homeownership is expanding.
About NAREB
NAREB was formed in 1947 out of a need to secure the right to equal housing opportunities, regardless of race, creed or color. Today, NAREB has chapters in 33 states. www.nareb.com.
About Radian
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. www.radian.biz.
SOURCE NAREB
