Insurance Business Review (04/04/08)
Radian Guaranty has rolled out its new FastAdvance program, which provides partial claims advances that enable residential loan servicers to help troubled borrowers by arranging a customized repayment plan or modifying the terms of a mortgage. In addition, the company has teamed up with Consumer Credit Counseling Service of Delaware Valley (CCCS) to provide assistance, educational outreach and a method of direct communication between borrowers and servicers using Radian FastAdvance. Paul Fischer, executive vice president of loss management business at Radian Guaranty, remarked, "The combination of the Radian FastAdvance program and the partnership with the CCCS is a sign of progress in helping borrowers and servicers navigate what has been a very difficult market environment." The partnership also provides borrowers with access to third parties that can help them in sifting though the various alternatives.
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