News

09/22/2011

Radian Positions Company to Compete in Current Market Environment

PHILADELPHIA, Sep 22, 2011 (BUSINESS WIRE) --

Radian Group Inc. today announced that it has re-aligned its operational structure in order to compete more effectively as a leading private mortgage insurer. The primary objective is to focus the company's resources on sales and other core functions to grow profitable new business while aligning its support services to the reduced mortgage market volume expected in the near term. The re-alignment included a workforce reduction of approximately 7 percent of Radian's corporate and mortgage insurance staff.

"Our top priority at Radian is to write as much new, high-quality mortgage insurance business as possible," stated Teresa Bryce Bazemore, president of Radian Guaranty Inc. "We are taking advantage of every opportunity to grow our business, including increasing our sales presence in key markets across the country and signing more than 150 new customers over the past year."

"At Radian, we have been successful in increasing our market share and broadening our customer base. Yet our operational structure was built for a mortgage market that is much larger than today's reality," added Radian's Chief Executive Officer S.A. Ibrahim. "We will continue to add resources where they are most needed to support our customers, particularly in sales."

About Radian

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

Forward-looking Statements

Some of the statements in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2010 and in Item 1A of Part II of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

SOURCE: Radian Group Inc.

Radian Group Inc.
Emily Riley,215-231-1035
emily.riley@radian.com