Radian Group Stock Price, News & Analysis

Radian Guaranty Inc., a subsidiary of Radian Group Inc. (NYSE: RDN), announced that recent updates to the Private Mortgage Insurer Eligibility Requirements (PMIERs) are not expected to materially impact its capital position or PMIERs cushion. The updates, issued by Fannie Mae and Freddie Mac, refine standards for Available Assets but are anticipated to have minimal effect on Radian Guaranty's operations.

Key points:

• PMIERs Updates will be phased in over two years, starting March 31, 2025
• Radian Guaranty's Available Assets totaled ~$6.0 billion as of June 30, 2024
• Expected reduction in Available Assets is less than 0.3% (~$20 million) by March 31, 2025
• Changes to COVID-19 forbearance treatment may increase Minimum Required Assets by less than $10 million

Radian Group Inc. (NYSE: RDN) has announced a regular quarterly dividend on its common stock. The company's Board of Directors has approved a dividend of $0.245 per share, which will be payable on September 11, 2024. Stockholders of record as of August 26, 2024, will be eligible to receive this dividend. This announcement demonstrates Radian's commitment to returning value to its shareholders through consistent dividend payments.

Radian Group (NYSE: RDN) reported its Q2 2024 financial results, showcasing a net income of $152 million or $0.98 per diluted share, up from $146 million or $0.91 in Q2 2023. The company achieved a return on equity of 13.6% and a 12% year-over-year growth in book value per share to $29.66.

Revenue for the quarter increased to $321 million from $290 million in Q2 2023. Net premiums earned in mortgage insurance rose to $235 million, and new insurance written was $13.9 billion. The provision for losses was a benefit of $2 million, down from $22 million in Q2 2023.

Radian increased its share repurchase authorization to $900 million, with $667 million remaining. The company repurchased $50 million of shares in Q2 2024. Additionally, Radian Guaranty paid a $200 million dividend to Radian Group, boosting available holding company liquidity to $1.2 billion.

Notably, Radian Mortgage Capital completed a $348.9 million securitization in July 2024, further solidifying its financial position.

Radian Group Inc. (NYSE: RDN) has announced the successful closure of its inaugural prime jumbo securitization through its mortgage conduit, Radian Mortgage Capital (RMC). The securitization, named Radian Mortgage Capital 2024-J1, comprises $348.9 million of residential real estate loans, consisting of 359 30-year, fixed-rate fully amortizing mortgages.

The mortgage pass-through certificates were offered to eligible third-party capital markets investors in an unregistered private offering, with RMC retaining an interest in the certificates at closing. This move aligns with Radian's strategy to expand its participation in the mortgage market by aggregating, managing, and distributing residential mortgage credit risk.

CEO Rick Thornberry emphasized that this transaction leverages Radian's expertise to provide additional secondary market options for lenders and investors, positioning RMC as a full-service correspondent lender.

Radian Group Inc. (NYSE: RDN) announced a partnership between FIZBER, a leading self-directed residential real estate marketplace, and Radian Settlement Services. This collaboration integrates titlegenius by Radian, a digital title and home closing platform, into FIZBER's services for For Sale By Owner (FSBO) home sellers.

The integration offers FIZBER users access to end-to-end title and closing services, featuring real-time updates, support, and competitive rates. Key benefits include:

• A streamlined digital experience
• Potential savings of up to 25% on closing costs
• Educational resources on title insurance and settlement
• Expert support from Radian Settlement Services
• Real-time status updates throughout the closing process

This partnership aims to simplify the often complex process of selling a home independently, providing FSBO sellers with tools and resources to navigate title and closing procedures more efficiently.

Radian Group (NYSE: RDN) announced that it will host a conference call on Thursday, August 1, 2024, at 12:00 p.m. Eastern time to discuss its second quarter 2024 results. These results will be released after the market closes on Wednesday, July 31, 2024. The conference call will be webcast live on Radian's website, and will include a question-and-answer session for participants who follow the dial-in instructions provided. The webcast will be available in listen-only mode. Participants are advised to join 10 minutes prior to the start time. A digital replay of the webcast will be accessible two hours after the live event and will remain available for one year on Radian's website. Additional financial and statistical information expected to be discussed during the call will also be available on the company's website.

Radian Group announced a collaboration with BatchService to offer its titlegenius platform to BatchService's real estate investor community. This partnership aims to provide a secure, transparent, and efficient digital solution for title and home closing services. Users will benefit from real-time updates, competitive pricing, and on-demand support from escrow officers. The platform promises potential savings of up to 25% on closing costs compared to other providers and allows investors to manage all transactions in one place. This move aligns with BatchService's commitment to tech-forward, value-driven solutions for real estate professionals.

Radian Group (NYSE: RDN) held its 2024 Annual Meeting of Stockholders, where all eleven directors were re-elected for one-year terms. Gaetano (Guy) J. Muzio retired after his significant contribution since 2012. Stockholders approved all board-recommended proposals, including executive compensation and the appointment of PricewaterhouseCoopers LLP as auditors for 2024. CEO Rick Thornberry highlighted Radian's ongoing commitment to managing mortgage credit risk and expanding access to affordable homeownership.

Radian Group (NYSE: RDN) has announced an increase in its share repurchase authorization from $300 million to $900 million, extending the program to June 30, 2026. This move allows the company to repurchase an additional $600 million in shares, depending on market and business conditions. As of March 31, 2024, Radian has already repurchased approximately 7 million shares for a total of $183 million. Additionally, the Board of Directors has approved a regular quarterly dividend of $0.245 per share, payable on June 20, 2024, to stockholders of record as of June 4, 2024.