Industry NewsMortgage

Radian to raise down-payment requirements, ban alt-A loans

Mortgage insurer latest to tighten underwriting standards
Published on Mar 28, 2008

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by CareyBot

Radian Guaranty Inc. is the latest private mortgage insurer to tighten underwriting standards, with a moratorium on loans with down payments of less than 3 percent kicking in March 31, and a ban on stated-income and stated-asset loans scheduled to begin April 30.

Like competitors including PMI and MGIC, Radian has also adopted more stringent standards in declining markets where prices are falling.

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