Radian Releases Monthly Operating Statistics for May 2021
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.
- Decrease in beginning primary default inventory from 50,106 (April) to 45,689 (May).
- Cures increased significantly to 5,573 in May compared to previous months.
- New defaults remain high at 2,714, only slightly less than April's 2,751.
- Claims paid remained non-negligible at 32.
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 May 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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May 2021 |
April 2021 |
March 2021 |
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|
|
|
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Beginning Primary Default Inventory (# of loans) |
45,689 |
50,106 |
52,882 |
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New Defaults |
2,714 |
2,751 |
3,314 |
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Cures |
(5,573) |
(7,128) |
(6,043) |
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Claims Paid |
(32) |
(37) |
(45) |
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Rescissions and Claim Denials, net (1) |
4 |
(3) |
(2) |
|||
Ending Primary Default Inventory |
42,802 |
45,689 |
50,106 |
(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 RDN's total new primary defaults in May 2021?
How many loans were in the beginning primary default inventory for RDN in May 2021?
What is the ending primary default inventory for RDN as of May 2021?
How many cures did RDN have in May 2021?
What claims paid did RDN report in May 2021?
