Radian Guaranty Inc. has renewed its exclusive partnership with the Asian Real Estate Association of America (AREAA) through December 2018, the company recently announced. The partnership, among other provisions, allows for more lending options for Asian American and Pacific Islander (AAPI) consumers, including AREAA’s 15,000-plus members.
“Radian and AREAA have made impressive inroads toward advancing the policy goals and housing market education of the AAPI community, and we are pleased that our partnership has helped contribute to the growth of AREAA’s membership by more than 1,000 professionals,” says Brien McMahon, chief franchise officer at Radian. “Looking ahead through to the end of 2018, we look forward to helping expand AREAA’s reach across the country’s main markets and contributing to continued member education about new developments in MI [mortgage insurance], smart ways to leverage MI and the various mortgage options available.
“Our partnership also will position us to help AREAA’s policy goals, such as its ‘Millennial Program’ aimed at assisting those between 18–34 years of age achieve homeownership, and its legislative agenda, which includes advocating for deeper cover MI, modern credit scoring models and the MI tax deduction,” McMahon says.
“AREAA is proud to extend our partnership with Radian as our exclusive mortgage insurance partner through December 2018,” says Angie Lee, 2017 national president of AREAA. “Many Asian Americans mistakenly believe that you need to have [a] 20 percent down payment to finance a home. This concept delays homeownership and slows down wealth creation in our community. AREAA is excited to work with Radian to educate our community about ways to responsibly make homeownership a reality today and build wealth for our future.”
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