Radian Releases Monthly Operating Statistics for June 2021
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.
- Decrease in beginning primary default inventory from 45,689 (May) to 42,802 (June).
- Improvement in cures from (5,573) (May) to (4,980) (June).
- Ending primary default inventory reduced to 40,464.
- New defaults increased slightly from 2,714 (May) to 2,680 (June).
- Claims paid decreased marginally from (32) (May) to (29) (June).
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 June 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.
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June 2021 |
May 2021 |
April 2021 |
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Beginning Primary Default Inventory (# of loans) |
42,802 |
45,689 |
50,106 |
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New Defaults |
2,680 |
2,714 |
2,751 |
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Cures |
(4,980) |
(5,573) |
(7,128) |
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Claims Paid |
(29) |
(32) |
(37) |
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Rescissions and Claim Denials, net (1) |
(9) |
4 |
(3) |
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Ending Primary Default Inventory |
40,464 |
42,802 |
45,689 |
(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.
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FAQ
What were the new primary defaults reported by RDN in June 2021?
How did the cures change for RDN in June 2021?
What is the ending primary default inventory for RDN in June 2021?
How did claims paid by RDN change in June 2021?
