Welcome to our dedicated page for Radian Group news (Ticker: RDN), a resource for investors and traders seeking the latest updates and insights on Radian Group stock.
Radian Group Inc. reports developments for a global multi-line specialty insurer with established U.S. private mortgage insurance operations and Inigo specialty insurance underwriting through Lloyd’s of London. Company news commonly covers quarterly and annual results, Mortgage and Specialty segment performance, mortgage insurance in force, premium yield, loss and expense ratios, book value, and capital management.
Other recurring updates include dividends, share repurchases, holding-company liquidity, distributions from Radian Guaranty, acquisition-related integration of Inigo, investor presentations, and board or executive changes.
Radian Group reported a net income of $126 million ($0.67 per diluted share) for Q3 2021, down from $135.1 million ($0.70 per share) in Q3 2020. New Insurance Written grew 23% quarter-over-quarter to $26.6 billion, while primary mortgage insurance in force increased to $241.6 billion. The book value per share rose 9% year-over-year to $23.48. Homegenius revenues surged 51% year-over-year, totaling $45.1 million. Share buybacks included 7.1 million shares for $158.3 million. The company's liquidity stood at $1 billion, evidencing solid financial health.
Radian Group Inc. (NYSE: RDN) has priced $484 million in mortgage insurance-linked notes (ILNs) through its subsidiary, Eagle Re 2021-2 Ltd. This 12.5-year issuance aims to provide fully collateralized excess of loss reinsurance protection for existing mortgage insurance policies. Coverage is set to begin at a 2.25% cumulative claim rate, rising to a 6.75% aggregate detachment level. The transaction is expected to close on November 9, 2021. The ILNs are unregistered and non-recourse to Radian Group and its affiliates.
Radian Group Inc. (NYSE: RDN) will host a conference call on November 3, 2021 at 11:00 a.m. Eastern time to discuss its third quarter 2021 results. The results will be announced following market close on November 2, 2021. Investors can access the live broadcast via Radian's website or by calling 800.447.0521 (U.S.) or 847.413.3238 (international) with passcode 50246248. A digital replay will be available for two weeks post-call.
Radian Group Inc. (NYSE: RDN) launched the "Opens Doors Opens Hearts" fundraiser supporting the Mortgage Bankers Association’s Opens Doors Foundation. The initiative aids families with critically ill children in paying rent or mortgage during treatment. For every $50 raised, Radian sends a door decoration kit to hospitalized children and matches donations until October 22, 2021. Radian's ongoing commitment includes a $400,000 pledge over four years to enhance the foundation's partnership with the Children’s Hospital of Philadelphia.
Radian Group Inc. has announced a shift back to quarterly reporting of its operating statistics, marking an end to its monthly updates initiated during the COVID-19 pandemic. This decision reflects improving market conditions. The press release includes key metrics for September 2021, reporting a decrease in the beginning primary default inventory to 36,004 from 38,347 in August. New primary defaults increased to 2,791 compared to 2,592 in the previous month, while cures rose notably, reflecting positive adjustments in loan performance.
Radian Group Inc. (NYSE: RDN) reports a significant increase in U.S. home prices, with a 15.9% annualized rise in August, marking the third consecutive month of record growth. The Radian Home Price Index (HPI), deemed a top measure for housing market conditions, shows a 13.2% increase over the past six months. The median home price has reached $290,225, driven by robust demand for higher-priced homes. Despite slight softening signals, experts maintain a cautiously optimistic outlook, as the impact of ending emergency benefits may be limited for now.
Radian Group Inc. (NYSE: RDN) has expanded its innovative title insurance and closing services platform, titlegenius, into Arizona, California, Nevada, Ohio, and Pennsylvania, following its launch in Florida. The platform simplifies and secures the title insurance ordering process for consumers, providing transparency, competitive pricing, and efficient workflows for real estate agents. The company plans to further enhance its service offerings under its homegenius brand.
Radian Guaranty Inc., a subsidiary of Radian Group Inc. (NYSE: RDN), reported key credit performance metrics for August 2021. The total beginning primary default inventory decreased to 38,347 loans, compared to 40,464 in July 2021. New defaults were 2,592, slightly lower than July's 2,749. Cures totaled (4,784), indicating improved financial health. The ending primary default inventory also saw a decline to 36,004 from 38,347 the previous month, reflecting effective management of credit risk in its insured portfolio.
Radian Group Inc. (NYSE: RDN) has reported a significant rise in home prices across the U.S., with the Radian Home Price Index (HPI) showing a month-over-month increase of 14.7% from June to July 2021. The median home price is now $286,434, reflecting a 10.9% year-over-year rise. Despite increased inventory, the demand remains high, contributing to shorter market times, with homes averaging only 66 days on the market. While price appreciation continues, affordability is declining, potentially impacting future housing activity.
Radian Group Inc. (NYSE: RDN) announced the retirement of Herbert Wender as Non-Executive Chairman, effective after the Annual Meeting of Stockholders in May 2022. Wender's retirement marks the end of a significant tenure during which he contributed to Radian's growth as a leading mortgage insurance provider. Howard B. Culang will succeed him as Non-Executive Chairman. Culang, a director since 1999, brings over two decades of experience in the mortgage industry. Radian continues to focus on providing innovative digital solutions across the mortgage and real estate sectors.