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03/04/2009

Radian Supports Government Plans to Stabilize Housing Market

PHILADELPHIA, March 4, 2009 /PRNewswire-FirstCall via COMTEX/ -- Radian Group Inc. (NYSE: RDN) commented on the plans announced today by the U.S. Department of the Treasury to help stabilize the housing market. S.A. Ibrahim, Chief Executive Officer of Radian, made the following statement:

"We applaud the efforts of the United States Treasury and Department of Housing and Urban Development, in conjunction with Fannie Mae and Freddie Mac, to prevent avoidable foreclosures and help stem the ongoing mortgage crisis. The actions outlined under the Affordability and Stability Plan will play a significant role in mitigating the potentially devastating consequences facing millions of homeowners and hundreds of communities across the country.

"As a leading private mortgage insurance provider, Radian Guaranty is working closely with our mortgage servicing partners and the GSEs in helping families restructure or refinance their debt to avoid foreclosure. The private mortgage insurance industry is a vital part of the U.S. housing finance system and remains an essential building block for a return to a vibrant housing market.

"We are pleased that the Administration is working to provide the mortgage servicing industry additional tools in our ongoing efforts to help keep families in their homes. Radian will remain responsive and flexible to the needs of the Administration and all of our partners as this comprehensive and detailed program is implemented. We also appreciate the continued recognition of the critical role of private mortgage insurance by the Federal Housing Finance Agency."

About Radian

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk management 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-down payment mortgages in the secondary market. Additional information may be found at www.radian.com.

SOURCE Radian Group Inc. 



http://www.radian.com