PHILADELPHIA (12/11/12)--Radian Guaranty Inc., a mortgage insurance subsidiary of Radian Group Inc., will provide mortgage insurance on loans through Mortgage Harmony's HamonyLoan platform.
HarmonyLoan is a mortgage feature designed by Mortgage Harmony Corp., a financial services technology company and provider of residential mortgage products to credit unions and banks.
HarmonyLoan can be applied to fixed-rate or adjustable rate mortgages, conventional or jumbo loans, and on new and existing mortgages. It allows borrowers to adjust the interest rate on their loasn without the need for traditional rate-term refinancing, the companies said.
When there is at least a 25 basis-point reduction in a mortgage market rate, homebuyers can reset their mortgage rates with one click on a personalized, secure, Web-based site.