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Insurer Shuns Subprime Risk.
PHILADEPHIA -- In the company's recent annual report to the SEC, Radian Guaranty acknowledged that the mortgage insurance industry faces challenges this year but indicated that it is prepared to manage the deterioration in subprime credit quality home loans.
In the report, Radian said that subprime accounted for 11% of the company's primary mortgage insurance risk-in-force in 2006. That includes A- as well as B&C loans. And data indicate that Radian actually reduced its subprime participation slightly from the year before.
And in his annual letter to shareholders, CEO S.A. Ibrahim said the company "declined to participate in unattractive business, most notably 'walking away' from deals in the bulk and subprime areas where we did not like the structure or felt the pricing and returns were unattractive."
But at the same time, Radian said in its annual report that alt-A and subprime lending continue to offer growth opportunities for the business in the future.
Nonprime loans - including alt-A and A- - accounted for 28.1% of Radian's primary mortgage risk-in-force at the end of last year, down slightly from 30.7% at the end of ...
- Radian Applauds President Signing Mortgage Insurance Tax Deductibility Law.
- News wire article from: The America's Intelligence Wire December 20, 2006 700+ words
...associated with certain Radian products that are riskier than traditional mortgage insurance and municipal guaranty insurance...in persistency rates of Radian's mortgage insurance policies; downgrades of Radian's credit ratings or the...
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- Press release article from: PR Newswire September 18, 2008 700+ words
...support to its mortgage insurance business. Radian has contributed...Executive Officer of Radian Group. "Our mortgage insurance business remains...strength ratings of Radian Guaranty Inc., our primary mortgage insurance subsidiary...
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- Press release article from: PR Newswire November 18, 2005 700+ words
...of losses associated with certain Radian products that are riskier than traditional mortgage insurance and municipal guaranty insurance...changes in persistency rates of Radian's mortgage insurance policies; downgrades of the insurance...
- Radian Forms Hong Kong Partnership with Standard Chartered; Mortgage Insurance...
- Press release article from: PR Newswire February 1, 2005 700+ words
...exclusive provider of mortgage insurance for Standard Chartered. Radian's entrance into...services." Through Radian's mortgage insurance services, Standard...JLT also helped Radian establish a recent mortgage insurance partnership in...
- Radian Departs Mortgage Insurance Cos. of America.
- Magazine article from: Origination News Finkelstein, Brad October 1, 2003 700+ words
The Radian Group here has left the trade group that represents the private mortgage insurance industry. The Mortgage Insurance Cos...America and its all of its members except Radian opposed Radian's efforts to get its...
- Radian Comments on Mortgage Insurance Business.
- Press release article from: PR Newswire September 10, 2008 700+ words
...relied heavily on mortgage insurance, and Radian has been working...its principal mortgage insurance subsidiary, Radian Guaranty. This...strength ratings of Radian Guaranty Inc., our primary mortgage insurance subsidiary...
- Teresa Bryce To Lead Radian Mortgage Insurance Business.
- Press release article from: PR Newswire July 7, 2008 700+ words
...has been appointed President of Radian Guaranty Inc., Radian's principal mortgage insurance subsidiary, effective immediately...efforts and progress we have made in Radian's mortgage insurance business in the face of difficult...
- Radian Says Court Order Will Help Consumers; Federal Court Affirms Commercial...
- Press release article from: PR Newswire October 25, 2005 700+ words
...disqualified them from receiving a lower mortgage insurance rate. Radian successfully argued that it does...borrowers About Radian Guaranty Inc. Radian Guaranty Inc. is the mortgage insurance subsidiary of Radian Group Inc. , a global credit enhancement...
- Rating Agency Eyes the Implications of MGIC/Radian Deal's End: 'Current market...
- Magazine article from: National Mortgage News September 10, 2007 700+ words
...ratings of all of Radian's mortgage insurance subsidiaries to...Fitch believes Radian's mortgage insurance subsidiaries currently...force exposure of Radian's higher-risk structured mortgage insurance exposures supported...
- Radian branches out: a dramatic industry shift is under way in the mortgage...
- Magazine article from: Mortgage Banking Wallace, David J. August 1, 2004 700+ words
...supported a plan to make mortgage insurance payments tax-deductible...fast-moving script, Radian Group also faces the...break out of the mold. Radian got 78 percent of its net income from mortgage insurance in 2001, and 22 percent...than half today, says Radian Chairman and ...
Source: HighBeam Research, Insurer Shuns Subprime Risk.