Profile: Radian Group Inc (RDN)
22 Aug 2019
Radian Group Inc., incorporated on December 6, 1991, is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two business segments: Mortgage Insurance and Services. The Company's customers include mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks.
The Company's Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions. The Company conducts mortgage insurance business through its subsidiary, Radian Guaranty. Its Mortgage Insurance segment offers mortgage insurance products, such as primary mortgage insurance and pool insurance. The primary mortgage insurance provides protection against mortgage defaults at a specified coverage percentage. It provides primary mortgage insurance on a flow basis. Its non-traditional products include mortgage insurance on second-liens and it also provides mortgage insurance on an international basis.
The Company's Services segment provides outsourced services, information-based analytics, valuations and specialty consulting and surveillance services for buyers and sellers of, and investors in, mortgage- and real estate-related loans and securities, as well as other asset-backed securities (ABS). Its Services segment is engaged in offering businesses, such as loan review and due diligence; surveillance, including residential mortgage-backed securities (RMBS) surveillance, loan servicer oversight, loan-level servicing compliance reviews and operational reviews of mortgage servicers and originators; real estate valuation and component services providing outsourcing and technology solutions for the single family rental (SFR) and residential real estate markets, as well as outsourced solutions for appraisal, title and closing services; real estate owned (REO) management services, and services for the United Kingdom and European mortgage markets through its EuroRisk operations. It offers services and solutions through its indirect non-insurance subsidiary Clayton Holdings LLC (Clayton) and its subsidiaries, including Green River Capital LLC (Green River Capital), Red Bell Real Estate, LLC (Red Bell) and ValuAmerica (ValuAmerica, Inc). Its Services segment provides information and services that financial institutions, investors and government entities, use to evaluate, acquire, securitize, service and monitor loans and ABS. Its loan review and due diligence services include loan-level due diligence for various asset classes and securitizations, with a focus on the residential mortgage and non- government-sponsored enterprise (GSE) RMBS markets.
The Company's surveillance services utilize technology and professionals to provide ongoing, independent monitoring of mortgage servicer and loan performance. The Company offers risk management and servicing oversight solutions, including RMBS surveillance, regulatory and operational loan level oversight, asset representation review (ARR), services in connection with securitizations and consulting services. RMBS surveillance services monitor the servicers of mortgage loans underlying outstanding RMBS. Regulatory and operational oversight provides regular monitoring of servicing operations to measure and assess compliance with applicable policies and regulations. Its ARR services provide loan and receivable oversight for ABS issuers and their investors in the event of certain default triggers within the ABS. Its consulting services are focused on regulatory compliance and operational reviews of both mortgage servicers and loan originators.
The Company's valuation services consist of residential real estate pricing and valuations, including automated valuation models, broker price opinions and a variety of appraisal products, as well as real estate brokerage services and technology solutions. These valuation services are provided through Clayton's Red Bell and ValuAmerica subsidiaries to originators, owners, purchasers and servicers of, and to investors in, performing and non-performing mortgage loans, REO properties and SFR securitizations. ValuAmerica also provides title and closing services. Its component service offerings are primarily focused on the SFR market, and include valuations, property inspections, title reviews, lease reviews and tax lien reviews. It provides these services and due diligence reviews to issuers of SFR securitizations, as well as to lenders and investors in the SFR market.
The Company's REO management services provide management of the entire REO disposition process, including management of the eviction and redemption process, management of property preservation and repairs, property valuation, title reviews and curative work, marketing, offer negotiation and closing services. Its EuroRisk operations provide outsourced mortgage services in the United Kingdom and Europe, with offerings that include due diligence services, quality control reviews, valuation reviews and consulting services. EuroRisk provides services to mortgage originators and servicers, as well as to investors in performing and non-performing mortgage loans.
The Company competes with Arch U.S. MI, Essent Guaranty Inc., Genworth Financial Inc., Mortgage Guaranty Insurance Corporation, NMI Holdings, Inc., Arch Capital Group LLC, American Mortgage Consultants, Inc., Digital Risk, LLC, Opus Capital Markets Consultants, LLC, FTI Consulting, Inc., Pentalpha Surveillance LLC, TENA Companies, Inc., ClearCapital.com, Inc., CoreLogic, Inc., Pro Teck Valuation Services, First American, Black Knight Financial Services, VRM Mortgage Services, Chronos Solutions LLC, Deloitte LLP, PricewaterhouseCoopers LLP, Ernst & Young LLP, KPMG LLP and Situs Group, LLC.
Radian Group Inc
1500 Market St Fl 19W
PHILADELPHIA PA 19102-2126