It enables homeowners to diversify their largest consolidated asset – their home – switching their volatile local-market home price. It will improve home affordability, significantly reduce risk to market participants, keep homeowners in their homes during difficult periods, and provide them with tangible savings.
This is the inventor of the Agreement – the most important financial innovation since the securitization. The application mortgage enhancement product can deliver inexpensive home-value and job-loss protection for tens of millions of U.S. homeowners by providing a means to reduce the PRIMARY RISK to what is often their MOST VALUABLE ASSET – LOSS OF VALUE (equity) in their HOME due to local-market price volatility.
While the focus is homeowners, they serve all the major participants in the residential home finance market by reducing risk and providing tangible benefits – from individuals to lenders, servicers, and originators.
This equates to less risk of borrower default, lower origination and servicing costs, increased affordability, the ability to expand loan volume to serve more Americans, and an overall stable home financing market. The Agreement allows homeowners to nationally diversify the value of their homes – typically their single largest investment.
The product allows homeowners to nationally diversify the home-value risk on their homes – typically their single largest investment. The astounding diversification benefit, termed “the only free lunch in Economics” – reduces the risk in their home equity by more than 40-percent, and similarly reduces their foreclosure risk. As an added benefit, this reduction in risk results in a reduced interest rate. Creditors see the value in the product as well, given that they can obtain a 70-percent reduction in credit losses.
With the advent of the Risk Reduction Agreement, the pain i.e. disasters that befell the government-sponsored mortgage entities, as well as the especially hard-hit geographic areas during the great recession will be avoided in the future as homeowners elect to take advantage of our revolutionary risk-reducing product.
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