Radian Releases Monthly Operating Statistics for August 2021

Rhea-AI Summary

Radian Guaranty Inc., a subsidiary of Radian Group Inc. (NYSE: RDN), reported key credit performance metrics for August 2021. The total beginning primary default inventory decreased to 38,347 loans, compared to 40,464 in July 2021. New defaults were 2,592, slightly lower than July's 2,749. Cures totaled (4,784), indicating improved financial health. The ending primary default inventory also saw a decline to 36,004 from 38,347 the previous month, reflecting effective management of credit risk in its insured portfolio.

Positive

• Beginning primary default inventory decreased from 40,464 in July to 38,347 in August.
• New defaults reduced to 2,592, down from 2,749 in the previous month.
• Cures improved with total cures being (4,784), showing effective management of defaults.
• Ending primary default inventory decreased to 36,004 from 38,347, indicating better credit performance.

Negative

• None.

PHILADELPHIA--(BUSINESS WIRE)-- Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released monthly operating statistics related to the credit performance of its insured portfolio for the month of August 2021. The information includes total new primary defaults, which include defaults under forbearance programs in response to the COVID-19 pandemic, as well as cures, claims paid and rescissions/denials. The information regarding new defaults and cures is reported to Radian Guaranty from loan servicers. The company considers a loan to be in default for financial statement and internal tracking purposes upon receipt of notification by servicers that a borrower has missed two monthly payments. Default reporting, particularly on a monthly basis, may be affected by several factors, including the date on which the loan servicer’s report is generated and transmitted to Radian Guaranty, the impact of updated information submitted by servicers and the timing of servicing transfers.

		August 2021		July 2021		June 2021
Beginning Primary Default Inventory (# of loans)		38,347		40,464		42,802
New Defaults		2,592		2,749		2,680
Cures		(4,784)		(4,728)		(4,980)
Claims Paid		(151)		(141)		(29)
Rescissions and Claim Denials, net (1)		-		3		(9)
Ending Primary Default Inventory		36,004		38,347		40,464

(1)

Net of any previous rescissions and claim denials that were reinstated during the period. Such reinstated rescissions and claim denials may ultimately result in a paid claim.

About Radian

Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to learn more about how Radian is shaping the future of mortgage and real estate services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210907005233/en/

For Investors

John Damian – Phone: 215.231.1383

Email: john.damian@radian.com



For the Media

Rashi Iyer – Phone: 215.231.1167

Email: rashi.iyer@radian.com

Source: Radian Guaranty Inc.

FAQ

What were Radian's new defaults in August 2021?

Radian reported new defaults of 2,592 loans in August 2021.

How did Radian's primary default inventory change from July to August 2021?

The primary default inventory decreased from 40,464 loans in July to 38,347 loans in August 2021.

What is the total number of cures reported by Radian in August 2021?

Radian reported a total of (4,784) cures in August 2021.

What was the ending primary default inventory for Radian in August 2021?

The ending primary default inventory for Radian in August 2021 was 36,004 loans.