Radian Group files Amendment No.3 to Repurchase Agreement with JPMorgan

Rhea-AI Filing Summary

Radian Group Inc. executed Amendment No. 3 to a Master Repurchase Agreement dated August 28, 2025 that names JPMorgan Chase Bank, N.A. as administrative agent (and assignee of Flagstar Bank, N.A.), Radian Mortgage Capital LLC as seller, and Radian Group Inc. as guarantor. The amendment is described as a material event on an 8-K and the filing includes an interactive data cover page within the Inline XBRL. The filing was made with a registrant date of September 3, 2025 and is signed by Liane Browne, Senior Vice President. The document text does not disclose the amendment's financial terms, collateral details, or changes to obligations.

Positive

• Amendment No. 3 executed to the Master Repurchase Agreement dated August 28, 2025
• Counterparties and roles clearly identified: JPMorgan Chase Bank, N.A. (agent/assignee), Radian Mortgage Capital LLC (seller), Radian Group Inc. (guarantor)
• Filing includes Inline XBRL interactive cover page, indicating structured data submission

Negative

• No financial terms disclosed in the provided text (maturities, rates, collateral not stated)
• No exhibit text visible here to assess changes to obligations, covenants, or guarantees

Insights

Capital Markets Analyst

Amendment recorded to a financing facility involving Radian as guarantor.

The filing confirms an executed amendment to a Master Repurchase Agreement dated August 28, 2025 that lists Radian Mortgage Capital LLC as seller and Radian Group Inc. as guarantor, with JPMorgan Chase Bank, N.A. as administrative agent and assignee of Flagstar Bank, N.A. This indicates active management of repurchase financing arrangements.

The filing does not provide any numerical terms, maturities, or collateral descriptions, so market impact cannot be assessed from this text alone. Investors should look for subsequent disclosures or exhibits that include financial economics or balance sheet effects within forthcoming filings.

Corporate Counsel (Financing)

Legal amendment executed and formally filed; signer identified.

The submission shows Amendment No. 3 to the Master Repurchase Agreement and includes the interactive data cover page; the registrant date is September 3, 2025 and the filing is signed by Liane Browne, Senior Vice President. These elements satisfy formal disclosure and signature requirements for an 8-K material event notice.

No contractual provisions, consent language, or adjustments to guaranty scope are included in the text provided, so the amendment's legal effect on obligations or covenants cannot be determined from this content alone. Review of the amendment exhibit is necessary to evaluate legal changes and timelines.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

RADIAN GROUP INC false 0000890926 0000890926 2025-08-28 2025-08-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 28, 2025

Radian Group Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware		1-11356		23-2691170
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

550 East Swedesford Road, Suite 350

Wayne, Pennsylvania, 19087

(Address of Principal Executive Offices, and Zip Code)

(215) 231-1000

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		RDN		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

As previously disclosed, Radian Mortgage Capital LLC (“RMC”), a subsidiary of Radian Group Inc. (the “Company”) is a party to the Uncommitted Master Repurchase Agreement, dated as of January 29, 2024 (assigned by Flagstar Bank N.A. to JPMorgan Chase Bank, National Association (“JPMorgan”), as administrative agent, effective as of July 22, 2024) to finance the acquisition of mortgage loans and related mortgage loan assets (the “JP Morgan MRA”). RMC uses the financing facility to finance its acquisition of residential mortgage loans, which are held by RMC for direct sale to mortgage investors or distribution in the capital markets through securitization. Also, as previously disclosed, in connection with the JP Morgan MRA, on January 29, 2024, the Company entered into a Guaranty Agreement in favor of JPMorgan (the “Parent Guaranty”) to guaranty the obligations of RMC under the JP Morgan MRA. Since January 2024, RMC, the Company and JPMorgan have amended the JP Morgan MRA, most recently to temporarily increase the maximum borrowing amount to $400 million through August 28, 2025.

On August 28, 2025, RMC, the Company and JPMorgan entered into Amendment No. 3 to the JP Morgan MRA (“Amendment No. 3”) to increase the maximum borrowing amount to $500 million and extend the termination date of the JPMorgan MRA to August 27, 2026. Amendment No. 3 includes a reaffirmation of the Company’s obligations under the Parent Guaranty. In all other material respects the terms of the JP Morgan MRA, including the Parent Guaranty, remain unchanged.

The foregoing summary is qualified in its entirety by reference to the full text of Amendment No. 3, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by Item 2.03 contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1		Amendment No. 3 to Master Repurchase Agreement, dated as of August 28, 2025, entered into by and among JPMorgan Chase Bank, N.A., as administrative agent on behalf of one or more buyers from time to time and as assignee of Flagstar Bank, N.A., Radian Mortgage Capital LLC, as seller and Radian Group Inc., as guarantor
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				RADIAN GROUP INC.
				(Registrant)
Date: September 3, 2025
				By:		/s/ Liane Browne
						Liane Browne
						Senior Vice President

FAQ

What did Radian (RDN) file on the 8-K?

The company filed an 8-K reporting Amendment No. 3 to a Master Repurchase Agreement dated August 28, 2025 and included an Inline XBRL interactive cover page.

Who are the parties named in the repurchase agreement amendment?

The amendment names JPMorgan Chase Bank, N.A. as administrative agent and assignee of Flagstar Bank, N.A., Radian Mortgage Capital LLC as seller, and Radian Group Inc. as guarantor.

When was the amendment executed and when was the 8-K filed?

The amendment is dated August 28, 2025 and the filing lists a registrant date of September 3, 2025.

Does the filing disclose the amendment's financial terms?

No. The provided filing text does not include financial terms, collateral descriptions, or changes to obligations.

Who signed the 8-K for Radian?

The filing is signed by Liane Browne, Senior Vice President.