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Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, is a leading provider of private mortgage insurance (MI) and related risk management products and services across the United States. Through its principal operating subsidiary, Radian Guaranty Inc., the company offers essential services that promote and preserve homeownership opportunities. By offering mortgage insurance, Radian protects lenders from default-related losses on residential first mortgages and facilitates the sale of low-downpayment mortgages in the secondary market.
Beyond mortgage insurance, Radian Group extends its services to analytics and consulting for buyers and sellers of, and investors in, mortgage- and real estate-related loans and securities, including other asset-backed securities. This comprehensive approach positions Radian as a crucial player in the real estate and mortgage finance industries.
Radian Group operates primarily in two segments: Mortgage and homegenius. The Mortgage segment, which accounts for the majority of the company’s revenue, includes mortgage insurance and related services. The homegenius segment encompasses real estate services and analytics, offering innovative solutions designed to assist in the buying, selling, and management of real estate assets.
The company remains financially robust, with insurance premiums contributing to more than three-fourths of its revenue. Radian also gains revenue from services and investment income, ensuring a diversified income stream. Recent achievements and current projects underscore Radian’s commitment to enhancing its service offerings and expanding its market reach.
For more information and the latest updates, connect with Radian Group Inc. through their various social media channels: Watch their videos on YouTube, visit their Facebook page, follow job postings and career information at Radian Careers, and join their LinkedIn group at Radian Careers.
Radian Group Inc. (NYSE: RDN) reports a significant rise in home prices across the U.S. in February 2021, with an annualized increase of 8.2%. The Radian Home Price Index (HPI) indicates a year-over-year rise of 8.3%, reflecting resilience post-pandemic. The median home price reached $272,186, up over $20,800 from February 2020. Additionally, homes appreciated 9.3% over the last six months amid low supply and high demand. Positive trends were noted in nearly all states, with record sales and low active listings, marking a strong start to the housing market in 2021.
Radian Guaranty Inc. released its February 2021 credit performance metrics for its mortgage insurance portfolio, showing a decrease in total new primary defaults to 3,873 from 4,664 in January. The beginning primary default inventory stands at 54,488, slightly down from 55,537 in January. Cures improved, with 5,420 cures reported in February compared to 5,674 in January. Claims paid slightly increased to 57 from 41 in January, while ending primary default inventory is 52,882.
Radian Group reported net income of $148.0 million for Q4 2020, down from $161.2 million in Q4 2019, translating to $0.76 per diluted share compared to $0.79 previously. For the entire year, net income was $393.6 million, a decline from $672.3 million in 2019. The company noted a 47.2% increase in New Insurance Written (NIW) to $105.0 billion in 2020. However, provision for losses surged to $483.3 million due to pandemic impacts. Book value per share increased by 11% to $22.36.
Radian Group Inc. (NYSE: RDN) reported that home prices in the U.S. rose at an annualized rate of 7.5% from December 2020 to January 2021, reflecting a slight slowdown from previous months. The national median home price reached $270,334, while distressed sales hit an all-time low of 11,212 units, accounting for just 4.9% of total sales. Over the past year, home prices increased 8.0% year-over-year. The Southwest region saw the only acceleration in price appreciation, while the South region recorded the highest growth at 8.9%.
Radian Group (NYSE:RDN) anticipates ongoing digital transformation in the mortgage and real estate sectors throughout 2021, fueled by technology advancements. Senior Executive VP Eric Ray highlighted the need for innovation driven by the pandemic, which has increased demand for digital services. Key innovations include AI-driven home valuation technologies, dynamic mortgage insurance pricing, and streamlined title insurance processes. Radian also introduced tools such as RADAR Rates and MyRadian, enhancing customer engagement and operational efficiency, while continuing to adapt to market changes.
Radian Group Inc. (NYSE: RDN) has announced a quarterly dividend of $0.125 per share, payable on March 4, 2021, to shareholders of record by February 22, 2021. This decision reflects the company's commitment to returning value to its investors amidst its operations in mortgage insurance and real estate services. Radian aims to ensure sustainable homeownership through innovative technology and comprehensive services.
Radian Guaranty Inc. released its January 2021 operational statistics, highlighting key credit performance metrics for its insured portfolio. The report indicates a beginning primary default inventory of 55,537 loans, with 4,664 new defaults and (5,674) cures. Claims paid totaled (41), and rescissions and claim denials netted 2. The ending primary default inventory decreased to 54,488 loans, reflecting a slight improvement in loan performance.
The Radian Home Price Index (HPI) revealed strong performance in the U.S. residential real estate market for December 2020, with home prices rising from the end of November at an annualized rate of 8.5%. For the full year, the Radian HPI increased by 8.0% year-over-year. Key highlights include a record average sales price of $381,316, the shortest days on market to sale at 93, and a total of 3.6 million closed sales. The final quarter saw home prices rise an annualized 9.3%, indicating robust demand amidst limited supply.
Radian Group (NYSE: RDN) will hold a conference call on February 25, 2021, at 10:00 a.m. Eastern time to discuss its fourth quarter and year-end results for 2020. The financial results will be announced after the market closes on February 24, 2021. Investors can access the call via the Radian website or by dialing 888.771.4371 within the U.S. A digital replay will be available for two weeks post-broadcast. Radian is committed to promoting responsible homeownership through its mortgage insurance and related services.
Radian Guaranty Inc. reported its December 2020 operating statistics, highlighting key credit performance metrics for its insured portfolio. The month's figures show a total of 4,659 new primary defaults, a slight decrease from November's 4,807 defaults. Cures for the month outpaced new defaults at (6,244), contributing to an ending primary default inventory of 55,537 loans, down from 57,176 in November. This performance indicates Radian's effective management during ongoing pandemic challenges, including forbearance impacts.
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