Radian Group Inc. (NYSE: RDN), announced today that it has made a strategic investment in FinLocker, a personal financial fitness and homeownership tool. By leveraging advanced technology, FinLocker aggregates and analyzes a consumer’s financial data, offering personalized paths to mortgage eligibility and other financial transactions. Terms of the investment were not disclosed.
The investment aligns with Radian’s commitment to ensuring the American dream of homeownership responsibly and sustainably through products and services that span the mortgage and real estate spectrum, while also deepening relationships with its customers by introducing them to unique and relevant solutions to help build their businesses. FinLocker and Radian’s homegenius business share a strategic focus on creating a personalized and data-driven experience for home buyers and sellers, and all the professionals who guide them to success in their homeownership journey.
FinLocker’s customers primarily include mortgage lenders, banks, credit unions, and other financial service providers, which private-label the FinLocker tool with their brand to generate and nurture leads, stay meaningfully engaged with consumers throughout their homeownership journey, streamline the mortgage loan process, and cross-sell value-added products with the goal of creating customers for life.
“Radian and homegenius relentlessly seek to make homeownership more easily achievable and to help our business partners accomplish that goal more efficiently. FinLocker also does both of those things,” said Radian Chief Executive Officer Rick Thornberry. “As we continue to help redefine the homebuying process, we are delighted to invest in innovative companies such as FinLocker which are leading the way.”
FinLocker empowers consumers to manage their financial life with financial account management, budgeting, net worth, spending and cash flow analysis. The platform also offers mortgage and financial education, credit score monitoring, credit report access, and tools to improve credit, pay down debt, save for a down payment, track progress toward mortgage eligibility, and initiate real estate searches. Importantly, consumers have complete control over the financial data they share with lenders for loan decisioning, enhancing privacy and security.
“We see great potential in FinLocker’s business, both in its mission and its customer-driven approach, and together we can make homeownership more accessible,” said Eric Ray, Senior Executive Vice President, Chief Digital Officer and Co-Head of homegenius. “We are excited about this investment and the opportunity to offer FinLocker’s services to both Radian and homegenius customers.”
Brian Vieaux, President and Chief Operating Officer, FinLocker, expressed enthusiasm about the investment, stating, “This collaboration with Radian marks a significant milestone in our mission to empower the next generation of mortgage advisors. Our partnership will enhance our capabilities as a trusted source of financial preparation, paving the way for aspiring homebuyers to make informed decisions along their homeownership journey.”
Henry Cason, Chief Executive Officer, FinLocker, added, “Radian is a leader in the mortgage and real estate services industry, and we are thrilled by its support of FinLocker’s unique business offering and execution. We look forward to working with Radian on the next phase of our development and remain committed to our shared goal of helping people realize the dream of affordable and sustainable homeownership.”
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 radian.com and homegenius.com to learn more about how Radian and its pioneering homegenius platform are building a smarter future for mortgage and real estate services.
About FinLocker
FinLocker provides a secure financial fitness app that aggregates and analyzes a member’s financial data to offer hyper-personalized journeys that guide users in building and monitoring their credit, managing their financial accounts, budgeting, saving, reducing debt, and improving their mortgage readiness. Consumers can also initiate their property search and store personal and financial documents, which can be securely shared with their loan officer directly from the app to start their loan application. Mortgage lenders, banks, and credit unions white-label FinLocker to attract, assist, and educate members, gain market share, reduce loan processing costs, reduce friction, and create a lifetime of loyalty. For more information, visit FinLocker.com.
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