Radian Group Inc. (NYSE: RDN) today issued the following statement in response to public comments made by Clinton Group, Inc.:
Radian is committed to growing its mortgage insurance franchise and retaining its leadership position in the industry by writing as much new, high-quality business as possible, while appropriately managing its legacy portfolio.
The company agrees that all stakeholders should be provided with the most meaningful information about the company, its business and operations. This information includes its legacy books of business, therefore Radian releases important current data related to those books on both a quarterly and monthly basis. Information related to Radian’s financial position and legacy books of business, including historical quarterly financial statistics for the past ten years for its mortgage insurance business, may be easily accessed on the Investors section of Radian’s website at www.radian.biz.
Radian values the opinions of its stockholders. To that end, the company noted that it has held several recent detailed discussions with the Clinton Group to review ideas and strategies designed to enhance disclosure. The company appreciates the input it receives from stockholders, analysts and customers to help improve its disclosures, and will continue to consider ways to further improve stockholder communications.Radian’s Board of Directors is fully aware of its fiduciary duties and is committed to always acting in the best interests of all stockholders. It is Radian’s general policy not to respond to rumors about the company, including the purported expressions of interest referenced in the Clinton letter. About Radian Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. Additional information may be found at www.radian.biz.