Radian Group says unable to file annual report on time

March 3 (Reuters) - Mortgage insurer Radian Group (RDN.N) said it was unable to file its annual report on time as it could not finalize its fair value estimate of insured collateralized debt obligations transactions in its financial guaranty business.

In a regulatory filing, the company said material weakness in its internal control over financial reporting continued to exist as of Dec. 31, 2007. (Reporting by Sreerupa Mitra in Bangalore; Editing by Vinu Pilakkott)