Radian Reinforces Strategic Focus on Core Real Estate Business
29 Octobre 2020 - 9:30PM
Business Wire
Increased market demand for digital products
and services drives wind down of traditional appraisal business
Radian Group Inc. (NYSE: RDN), today reinforced its strategic
focus on its core mortgage and real estate businesses, driven by
digital products and services. Consistent with increased market
demand for technology-driven solutions, Radian announced the wind
down of its traditional appraisal business, which offers
residential real estate appraisal services through a panel of
independent contractor appraisers. Radian will support existing
customers using these traditional appraisal products over the
coming months in order to assist in an orderly transition.
Radian continues to invest in and offer its market-leading
digital valuation services through its family of real estate
companies. The company’s automated valuation products and services
are delivered through its proprietary technology platforms to
lenders, servicers, investors, and real estate agents. Utilizing
Artificial Intelligence (AI), machine learning and computer vision
skills, Radian draws on a database of nearly two billion real
estate images to develop micro market insights, including refined
property condition and characteristics, to more accurately and
quickly evaluate the value of residential real estate across the
country.
Radian’s suite of valuation services includes hybrid appraisal
solutions that are designed to reduce cost and drive faster turn
times without compromising quality. These services, offered through
Radian’s Red Bell Real Estate, LLC subsidiary, utilize technology,
a comprehensive quality control process and an appraiser review,
and include Amplified Appraisal Reports, Appraiser Reconciled BPOs,
Restricted Appraisal Reports and Valuation Risk Reviews.
“We remain strategically focused on our core mortgage and real
estate capabilities, and our commitment to serving the evolving
needs of our customers which are increasingly technology driven.
While our traditional appraisal services no longer align with our
digital business strategy, we remain committed to the higher growth
products in our valuation services portfolio,” said Chief Executive
Officer Rick Thornberry. “In today’s environment, the market demand
for digital solutions is greater than ever before. The future of
Radian is built on delivering high-quality products and services
through best-in-class technology, data and analytics, in order to
make it easier for our customers to do business.”
About Radian
Radian Group Inc. (NYSE: RDN) is ensuring the American dream of
homeownership responsibly and sustainably through products and
services that include industry-leading mortgage insurance and a
comprehensive suite of mortgage, risk, title, valuation, asset
management and other real estate services. We are powered by
technology, informed by data and driven to deliver new and better
ways to transact and manage risk. Visit www.radian.com to learn
more about how Radian is shaping the future of mortgage and real
estate services.
Red Bell Real Estate, LLC and its wholly owned subsidiaries hold
real estate licenses in every state and the District of Columbia.
Corporate headquarters are located at 7730 South Union Park Avenue,
Suite 400, Midvale, UT 84047. Redbellre.com | 877.707.1415
Forward-looking Statements
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developments or results that we expect or anticipate may occur in
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changing environment where new risks emerge from time to time and
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The forward-looking statements, as well as our prospects as a
whole, are subject to risks and uncertainties that could cause
actual results to differ materially from those set forth in the
forward-looking statements.
For more information regarding these risks and uncertainties as
well as certain additional risks that we face, you should refer to
the Risk Factors detailed in Item 1A of our 2019 Form 10-K, and to
subsequent Quarterly Reports on Form 10-Q and other reports filed
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For the Media: Rashi Iyer – Phone: 215.231.1167 Email:
rashi.iyer@radian.com
For Investors: John Damian – Phone: 215.231.1383 Email:
john.damian@radian.com
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