Last $15.54 USD
Change Today +0.03 / 0.19%
Volume 84.2K
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As of 9:45 AM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1601 Market Street

Philadelphia, PA 19103

United States

Phone: 215-231-1000

Fax:

Radian Group Inc. operates as a credit enhancement company with a primary strategic focus on domestic residential mortgage insurance on first-lien mortgage loans (first-lien). Segments The company operates in two segments, Mortgage Insurance and Financial Guaranty. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance, and risk management services to mortgage lending institutions. The company conducts its business primarily through Radian Guaranty Inc. (Radian Guaranty), its principal mortgage insurance subsidiary. The Financial Guaranty segment provides financial guaranty insurance on its existing portfolio of public finance and structured finance credits. In addition, its principal financial guaranty subsidiary, Radian Asset Assurance Inc. (Radian Asset Assurance), is a wholly-owned subsidiary of Radian Guaranty, which allows its financial guaranty business to serve as an important source of capital support for its mortgage insurance business. Mortgage Insurance The Mortgage Insurance segment provides insurance coverage, principally through private mortgage insurance, and risk management services to mortgage lending institutions. Private mortgage insurance protects mortgage lenders from all or a portion of default-related losses on residential mortgage loans made to home buyers who generally make down payments of less than 20% of the home’s purchase price. Private mortgage insurance also facilitates the sale of these mortgage loans in the secondary mortgage market, most of which are sold to Freddie Mac and Fannie Mae. Traditional Risk: The company offers only primary mortgage insurance. Primary Mortgage Insurance: Primary mortgage insurance provides protection against mortgage defaults at a specified coverage percentage. The company provides primary mortgage insurance on a flow basis and the company also has provided primary mortgage insurance on a ‘structured’ basis (in which the company insures a group of individual loans). Pool Insurance: Pool insurance differs from primary insurance in that its maximum liability on each loan is not limited to a specific coverage percentage on that individual mortgage. The company wrote much of its pool insurance in the form of structured transactions, including whole loan sales and credit enhancement on loans included in residential mortgage-backed securities (RMBS). An insured pool of mortgages may contain mortgages that are already covered by primary mortgage insurance. In these transactions, pool insurance is secondary to any primary mortgage insurance that exists on mortgages within the pool. Customers: The principal customers of mortgage insurance business are mortgage originators, such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks. Strategy: The company’s business strategy is primarily focused on: growing mortgage insurance business by writing insurance on high-quality mortgages in the U.S. and exploring other potential alternatives for providing credit-based services to the mortgage finance market; continuing to manage losses in legacy mortgage insurance and financial guaranty portfolios; continuing to reduce legacy mortgage insurance and financial guaranty exposures; and continuing to effectively manage capital and liquidity positions. Customers: The principal customers of mortgage insurance business are mortgage originators such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks. Competition: The Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs are the company’s competitors. The company also competes with Arch U.S. MI (acquired CMG Mortgage Company effective January 30, 2014), Essent Guaranty Inc., Genworth Financial Inc., Mortgage Guaranty Insurance Corporation, NMI Holdings, Inc. and United Guaranty Corporation. Financial Guaranty Public Finance: In the public finance business, the company insures the following: General Obligation Bonds: General obligation bonds are full faith and credit bonds that are i

 

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RDN

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Valuation RDN Industry Range
Price/Earnings 7.8x
Price/Sales 2.3x
Price/Book 1.9x
Price/Cash Flow 7.4x
TEV/Sales NM Not Meaningful
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