Radian Group Inc. - RDN STOCK NEWS

Radian Group Inc. (NYSE: RDN) announced that Derek Brummer, President of Mortgage Insurance, will retire on July 3, 2025, after 23 years with the company. Sumita Pandit, current Chief Financial Officer, will assume the expanded role of President and CFO upon Brummer's retirement, overseeing all aspects of Radian's mortgage insurance business.

Brummer joined Radian in 2002 as Chief Risk Officer and General Counsel for the company's former financial guaranty company, becoming Chief Risk Officer in 2013 and President of Mortgage Insurance in 2018. Pandit, who joined Radian in March 2023 as Chief Growth Officer and became CFO in May 2023, brings over two decades of investment banking experience, including roles at dLocal, J.P. Morgan, and Goldman Sachs.

Radian Group Inc. (NYSE: RDN) has received recognition from DBRS, Inc. (Morningstar DBRS) as an acceptable due diligence firm for business purpose loans and single-family rental RMBS transactions. Radian Real Estate Management stands as the longest-standing provider of diligence and valuations for institutional single-borrower, single-family rental securitizations, and warehouse lending transactions.

The company has been involved in nearly all SFR securitizations in the United States since the asset class began with the first SFR securitization in 2013. Morningstar DBRS's announcement on January 8, 2025, followed a comprehensive review of Radian's staffing, infrastructure, and capabilities as a third-party due diligence firm.

Elizabeth Park Capital Management (EPCM) has appointed J. Franklin Hall as partner and deputy portfolio manager. Hall, a financial services veteran, brings significant industry experience to the buyside investment platform. Prior to joining EPCM, Hall served as CFO at Radian Group (NYSE: RDN), where he successfully transformed the company's capital structure, leading to investment-grade credit ratings. His previous roles include COO and CFO positions at First Financial Bancorp (Nasdaq: FFBC), where he guided the firm through the 2008 Global Financial Crisis and managed several transformative acquisitions.

Hall's appointment is expected to strengthen EPCM's investment strategies and operations, leveraging his extensive experience in operational excellence and financial leadership. His career began at Ernst & Young before moving to Firstar Bank (now U.S. Bank) in its credit card division.

Radian Group (NYSE: RDN) has announced that its Board of Directors has approved a regular quarterly dividend of $0.245 per share. The dividend will be paid on December 10, 2024, to shareholders who are recorded as stockholders as of November 25, 2024.

Radian Group Inc. (RDN) reported net income of $152 million, or $0.99 per diluted share, for Q3 2024. The company achieved a return on equity of 13.2% and grew book value per share by 18% year-over-year to $31.37. Key highlights include $13.5 billion in New Insurance Written and primary mortgage insurance in force reaching $274.7 billion. The company returned $86 million to stockholders through dividends and share repurchases, while reducing its holding company debt-to-capital ratio to 18.5% following retirement of $450 million senior notes. Radian maintains strong liquidity with $844 million available at the holding company and $2.1 billion in PMIERs excess Available Assets.

Radian Group Inc. (NYSE: RDN) has announced record-breaking results for its annual 'Opens Doors Opens Hearts' fundraising campaign, raising nearly $475,000 for the MBA Opens Doors Foundation. The campaign received over $158,000 in donations, exceeding its $100,000 goal, with Radian matching two dollars for every dollar raised. The funds will support the Foundation's Home Grant Program, which provides up to $2,000 monthly in mortgage and rental assistance to families with critically ill or injured children. Since 2011, the Foundation has provided over $25 million in assistance through nearly 17,000 grants.

Radian Group Inc. (NYSE: RDN) has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Thursday, November 7, 2024, at 10:00 a.m. Eastern time. The company will release its Q3 2024 results after market close on Wednesday, November 6, 2024.

Investors and interested parties can access the live webcast on Radian's website at https://radian.com/who-we-are/for-investors/webcasts or www.radian.com. The webcast is listen-only, but those wishing to participate in the Q&A session should follow the provided dial-in instructions.

A digital replay of the webcast will be available on Radian's website for one year after the live broadcast. Additional statistical and financial information expected to be discussed during the call will also be available on the company's website.

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.