Radian - Mortgage Insurance - MI Refund Calculator

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Refund Calculator for Cancellation

This tool provides an easy and effective way to calculate the percent of premium refunded as well as the refund amount of short rate cancellation.

Premium Refund Policy

The unearned portion of a refundable annual or single premium will be refunded if coverage is cancelled by the lender. Check the commitment/certificate or a Radian rate card to determine if the premium plan is nonrefundable on lender-paid accounts.

*	Refunds for 25-year and 30-year refundable single premiums are based on a 15-year short rate cancellation schedule.
*	Refunds for 15-year refundable single premiums are based on a 5-year short rate cancellation schedule.
*	Refunds for annuals are based on a 365-day short rate cancellation schedule. Coverage will remain in effect until the loan reaches 78% of the original value.

Select premium plan:

SingleAnnual

* Radian Single and Annual Premium Plans have minimum retained premium amounts (initial coverage is $50.00 and renewal coverage is $10.00).
* For Monthly Premium Plan cancellations, please access MI Online. If you do not already have an MI Online user ID and password, please contact your Sales Representative or call Radian Customer Service at 1-877-Radian1.

Term

Premium amount

Effective date of policy (mm/dd/yy)

Date of cancellation (mm/dd/yy)

Refund Information

* To view the annual refund amount please select from the radio buttons above and enter your refund information.

Requesting a Refund

Lenders may notify Radian of cancellation in one of the following ways:

Access Radian MI Online to process a cancellation from your desktop PC. This online system provides instant access to mortgage insurance information and service functions you need immediately. Please call the Customer Service Department at 1-877-Radian1 to obtain your personal user ID and password.
Complete a Radian Cancellation Form (RAF093), or your company cancellation request form, and mail it to Radian's Customer Service Department, 1601 Market Street Philadelphia, PA 19103. Refunds may also be faxed to 1-888-262-2329. Radian will determine the proper amount of the refund, and issue a refund check made payable to the servicer of record, the borrower, or both, as indicated by the servicer.
EDI x 12-266 transactions allow lenders to electronically transmit to Radian their requests to cancel insurance.

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