Radian Group Inc. - RDN STOCK NEWS

Radian Guaranty Inc. released its monthly operating statistics for June 2021, highlighting key metrics in its insured mortgage portfolio. The report shows a decrease in beginning primary default inventory to 42,802 from 45,689 in May. New primary defaults stood at 2,680, slightly lower than May's 2,714. Cures also improved significantly, recorded at (4,980) compared to (5,573) in May. However, claims paid were marginally lower at (29), indicating ongoing challenges. The ending primary default inventory decreased to 40,464.

The Radian Home Price Index (HPI) reported an annualized home price increase of 11.5% in May 2021 compared to April 2021. Compared to May 2020, home prices rose 9.9%, outperforming the 9.3% rise noted in April. The median home price reached $280,002. The data indicates a trend towards higher-priced homes sold, with sales under $250,000 hitting a record low of 30.5%. All U.S. regions saw price appreciation, particularly the Midwest and West, while the Bay area showed a strong bounce-back.

Radian Group (NYSE: RDN) and Mortgage Cadence, part of Accenture (NYSE: ACN), announced an expanded integration to provide Radian's title and settlement services within the Mortgage Cadence Platform. This integration allows clients to access Radian's insured and non-insured services seamlessly via the platform's Collaboration Center, eliminating the need for data re-entry. Radian aims to simplify and accelerate mortgage transactions through this digital solution, enhancing efficiency in title and settlement processes for mortgage originators.

Radian Group Inc. (NYSE: RDN) launched titlegenius, a direct-to-consumer service for ordering title insurance and closing services online, using blockchain technology. Debuting in Florida, titlegenius aims to simplify the closing process, offering tools like remote check capture and online notarization to enhance user experience. The company plans further state expansions. Radian's homegenius suite will include additional innovative services like geniusbuyer, geniusprice, and geneuity, designed to improve real estate transactions and customer interactions.

Radian Group Inc. (NYSE:RDN) welcomes back Brian D. Montgomery to its Board of Directors after his tenure at the U.S. Department of Housing & Urban Development. Montgomery previously served as FHA Commissioner and on Radian's board from 2012 to 2017. Radian's Chairman, Herb Wender, expressed confidence in Montgomery's expertise to enhance the company's mission of promoting affordable homeownership. The board expanded to eleven members on June 7, 2021, appointing Montgomery for a new term. Radian continues to innovate in mortgage and real estate solutions to facilitate sustainable homeownership.

Radian Group Inc. (NYSE:RDN) announced the return of Brian D. Montgomery to its Board of Directors following his tenure as Deputy Secretary of HUD. Montgomery previously served as FHA Commissioner and brings extensive housing and finance experience. Radian's Chairman expressed excitement about Montgomery's contributions to the company's mission of promoting sustainable homeownership. The Board was expanded to eleven members to accommodate his appointment, signaling Radian's commitment to innovative mortgage and real estate solutions.

Radian Guaranty Inc., a subsidiary of Radian Group Inc., has released its May 2021 operational statistics revealing a total of 2,714 new primary defaults, a slight decrease from April's 2,751. The beginning primary default inventory has dropped to 45,689 loans from 50,106 in April. The company reported 5,573 cures in May, contributing to an ending primary default inventory of 42,802 loans. Additionally, claims paid totaled 32 in May. Radian continues to adapt to ongoing market challenges amidst the COVID-19 pandemic.

In April, home prices in the U.S. rose at an annualized rate of 10.4%, according to Radian's Home Price Index (HPI). The median home price reached $277,356, marking an increase of over $20,000 since March 2020. Despite a slight month-over-month decline, the annual increase was the fastest since the pandemic began, reflecting a 9.2% rise over the past year. Active home listings remain significantly below historical averages, contributing to price appreciation as demand persists.

Radian Group Inc. (NYSE: RDN) will host a virtual Real Estate Segment Investor Day on June 10, 2021, from 11:00 a.m. to 1:00 p.m. Eastern time. Senior leaders will outline the company's strategies for its title and digital real estate businesses and unveil innovative digital products and services. The event will be streamed live online, with a replay available for one year. Radian focuses on enhancing homeownership through mortgage solutions and digital advancements, underscoring its commitment to responsible and sustainable practices in real estate.