Radian Releases Delinquency Data For October

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released data for primary mortgage insurance delinquencies for October 2012. These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases. Previously released historical data is also available on the website at http://www.radian.biz/page?name=FinancialReportsMortgageInsurance.

The information below regarding new delinquencies and cures is reported to Radian from loan servicers. The accuracy of these reports may be affected by several factors, including the date on which the report is generated and by the timing of servicing transfers.
     
       

October 2012
Primary New Insurance Written ($ in billions) $4.01
         
Beginning Primary Delinquent Inventory

(# of loans)
     

94,831
Plus: New Delinquencies       5,666
Less: Cures       (5,198)
Less: Paids

(including those charged to a deductible or captive)
     

(1,450)
Less: Rescissions and Denials       81
Ending Primary Delinquent Inventory

(# of loans)
     

93,930

* Rescissions and Denials are net of actual reinstatements for the period. For additional details on reinstatement trends, refer to Slide 21 of Radian’s Third Quarter 2012 Presentation Slides available in the Investors section of Radian’s website at www.radian.biz .

Mortgage Insurance Segment Cash Position

As of September 30, 2012, Radian’s mortgage insurance segment had cash and investments of $3.2 billion, as reported last week in the company’s press release announcing its third quarter financial results. Recently, a publication incorrectly cited various financial measures for Radian, including a misstatement that its mortgage insurance segment had a cash position of $2.1 billion.

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.

Forward-Looking Statements

Some of the statements in this press release may constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2011, Item 1A of Part II of our Quarterly Reports on Form 10-Q filed in 2012, and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

Copyright Business Wire 2010