Radian insurance gives $200,000 grant to HOPE LoanPort
[Update 1: clarifies HOPE LoanPort/HOPE NOW relationship] Mortgage insurer Radian Group (RDN), is giving a $200,000 grant to web platform HOPE LoanPort in order to improve the execution of loss mitigation activities, including those under the Home Affordable Modification Program. HOPE LoanPort is a separate non-profit entity that was born out of the HOPE NOW Alliance, an mortgage industry-led coalition of servicers, HUD counseling agencies and investors formed with the goal of keeping borrowers in their homes. Radian's contribution will be used to support HOPE LoanPort counselors in order to compile and deliver the necessary loan documentation, as well as track the status of the borrower's application. Since its launch in November of 2009, the platform has reduced the average completion time for a HAMP modification from six months to 48 days. "Radian is proud to be the only mortgage insurer to play a key role in the development of the platform," said Teresa Bryce, President of Radian Guaranty. Write to Jacob Gaffney The author holds no relevant investments.