Radian Releases Monthly Operating Statistics for February 2021

Rhea-AI Summary

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.

Positive

• Decrease in new primary defaults from 4,664 in January to 3,873 in February.
• Improvement in cures, with 5,420 in February compared to 5,674 in January.

Negative

• Claims paid increased from 41 in January to 57 in February.

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 February 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.

	February 2021	January 2021	December 2020
Beginning Primary Default Inventory (# of loans)	54,488	55,537	57,176
New Defaults	3,873	4,664	4,659
Cures	(5,420)	(5,674)	(6,244)
Claims Paid (1)	(57)	(41)	(44)
Rescissions and Claim Denials, net (2)	(2)	2	(10)
Ending Primary Default Inventory	52,882	54,488	55,537

(1)		Includes those charged to a deductible under pool insurance arrangements, as well as commutations.
(2)		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.

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FAQ

What were RDN's new primary defaults for February 2021?

Radian Guaranty reported new primary defaults of 3,873 for February 2021.

How did RDN's cures change in February 2021?

Radian Guaranty reported 5,420 cures in February 2021, a decrease from 5,674 in January.

What is RDN's ending primary default inventory for February 2021?

The ending primary default inventory for Radian Guaranty in February 2021 is 52,882.

How does RDN's claims paid compare from January to February 2021?

Claims paid by Radian Guaranty increased from 41 in January to 57 in February 2021.