Radian Group Inc. - RDN STOCK NEWS

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.

Radian Group Inc. (NYSE: RDN) announced the re-election of ten directors at its 2021 Annual Meeting, along with the approval of all proposed resolutions, including executive compensation and a new equity compensation plan. CEO Rick Thornberry reported record-breaking business levels in the Mortgage Segment despite the challenges of 2020. The company also declared a quarterly dividend of $0.14 per share, up 12% from the previous payment. Radian continues to focus on sustainable homeownership through its diverse services in mortgage insurance and real estate.

Radian Group reported a net income of $125.6 million, or $0.64 per diluted share, for Q1 2021, down from $140.5 million a year ago. The company's adjusted pretax operating income also fell to $167.3 million from $204.6 million. New Insurance Written (NIW) stood at $20.2 billion, a decrease from $29.8 billion in Q4 2020. The book value per share increased by 9% year-over-year, reaching $22.14. The company announced a quarterly dividend increase to $0.14 per share, effective June 4, 2021.

Radian Group Inc. (NYSE: RDN) announced $498 million in fully collateralized excess of loss reinsurance from its subsidiary, Radian Guaranty Inc., to cover mortgage insurance policies from August to December 2020. Funded by issuing six classes of mortgage insurance-linked notes (ILNs) from Eagle Re, a new Bermuda insurer, the transaction involves non-recourse agreements for Radian. Notably, Radian purchased $17.7 million in B-1 tranche and the entire B-2 tranche. Moody's rated the ILNs between A3 and B3, confirming their credit quality.

Radian Group reported a 9.3% annualized increase in home prices for Q1 2021, with median prices rising to $274,256 in March. The Radian Home Price Index (HPI) also showed an 8.8% year-over-year increase, reflecting robust market conditions, as distressed sales remain low at 4.4%. Notably, all six regions recorded price appreciation, with the West and South showing the strongest gains. Active listings continue to decline, further tightening the market. This data highlights a sustained seller's market, with a record number of sales transactions exceeding 750,000 in the first quarter.

Radian Group Inc. (NYSE: RDN) will conduct a conference call on May 5, 2021, at 10:00 a.m. Eastern Time to discuss its Q1 2021 financial results, which will be released after market close on May 4. Investors can listen to the call live via the webcast on Radian’s website or by dialing 800.447.0521 in the U.S. A digital replay will be available two hours post-broadcast for two weeks. Radian offers mortgage insurance and various real estate services, striving to enhance homeownership responsibly.

Radian Guaranty Inc. reported March 2021 operating statistics for its insured mortgage portfolio, revealing a total of 3,314 new primary defaults and a decrease in beginning primary default inventory to 52,882 loans. The ending primary default inventory dropped to 50,106 loans. In March, cures reached (6,043), indicating successful resolution of previously defaulted loans. Claims paid amounted to (45). The statistics reflect the impact of ongoing forbearance programs due to the COVID-19 pandemic.