%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream /GS0 gs q 151.00 0 0 62.00 36.00 703.00 cm /I1 Do Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 187.00 703.00 Td ( ) Tj ET Q BT /F2 20.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.7294117647058823 0.7019607843137254 rg BT 387.50 729.24 Td (press release) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5098039215686274 0.5098039215686274 0.5098039215686274 rg BT 387.50 707.56 Td (October 31, 2018) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 34.5 677.5 m 198.5 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 677.5 m 378.5 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 677.5 m 567.5 677.5 l s BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 119.15 627.60 Td (Radian ) Tj ET Q q 0 0 0 rg BT 169.20 627.60 Td (Announces ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 249.31 627.60 Td (Third Quarter) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 338.77 627.60 Td ( ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 342.66 627.60 Td (2018) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 373.80 627.60 Td ( Financial Results) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 492.84 627.60 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 189.10 614.40 Td (-- GAAP) Tj ET Q q 0 0 0 rg BT 229.64 614.40 Td ( net income increases to ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 351.92 614.40 Td ($142.8 million) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 419.80 614.40 Td (; ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 155.75 601.25 Td (Diluted net income per share grows year) Tj ET Q q 0 0 0 rg BT 353.04 601.25 Td (-over) Tj ET Q q 0 0 0 rg BT 377.90 601.25 Td (-year to ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 418.25 601.25 Td ($0.66) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 445.77 601.25 Td ( -- ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 184.20 588.05 Td (-- ) Tj ET Q q 0 0 0 rg BT 194.17 588.05 Td (Adjusted diluted net operating income per share) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 206.20 574.85 Td (increases) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 253.28 574.85 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 256.33 574.85 Td (54%) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 278.35 574.85 Td ( year) Tj ET Q q 0 0 0 rg BT 302.61 574.85 Td (-over) Tj ET Q q 0 0 0 rg BT 327.47 574.85 Td (-year to ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 367.82 574.85 Td ($0.71) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 395.34 574.85 Td ( --) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 204.20 561.65 Td (-- Writes new MI business of $15.8 billion; ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 160.35 548.45 Td (MI in force ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 214.75 548.45 Td (increases) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 261.83 548.45 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 264.89 548.45 Td (10%) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 286.90 548.45 Td ( year) Tj ET Q q 0 0 0 rg BT 311.16 548.45 Td (-over) Tj ET Q q 0 0 0 rg BT 336.02 548.45 Td (-year to $217.1 billion --) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 153.35 535.25 Td (-- Book value per share grows ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 303.14 535.25 Td (13%) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 325.16 535.25 Td ( year) Tj ET Q q 0 0 0 rg BT 349.41 535.25 Td (-over) Tj ET Q q 0 0 0 rg BT 374.27 535.25 Td (-year to $15.69 --) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 511.85 Td (PHILADELPHIA, October 31, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 204.49 511.85 Td ( - Radian Group Inc. \(NYSE: RDN\) today reported net ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.15 511.85 Td (income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.39 511.85 Td ( for the quarter ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 499.85 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.62 499.85 Td (, of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.29 499.85 Td ($142.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.00 499.85 Td (, or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.23 499.85 Td ($0.66) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.25 499.85 Td ( per diluted share. ) Tj ET Q q 0 0 0 rg BT 338.90 499.85 Td (This compares to net ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.05 499.85 Td (income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.29 499.85 Td ( for the quarter ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 487.85 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.62 487.85 Td (, of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.29 487.85 Td ($65.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.44 487.85 Td (, or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.66 487.85 Td ($0.30) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 250.69 487.85 Td ( per diluted share. Results for the third quarter of 2017 include $45.8 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 475.85 Td (million of pretax loss on induced conversion and debt extinguishment.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 463.85 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.30 439.85 Td (Key Financial Highlights) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.43 439.85 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 277.21 439.85 Td (\(dollars in millions, except per) Tj ET Q q 0 0 0 rg BT 408.74 439.85 Td (-share data\) ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 429.35 m 74.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 429.35 m 292.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 429.35 m 292.5 429.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 402.35 m 292.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 429.35 m 292.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 429.35 m 392.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 429.35 m 392.5 429.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 402.35 m 392.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 429.35 m 392.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 429.35 m 492.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 429.35 m 492.5 429.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 402.35 m 492.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 429.35 m 492.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 429.35 m 545.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 429.35 m 545.5 429.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 402.35 m 545.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 402.35 m 74.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 402.35 m 292.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 402.35 m 292.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 387.35 m 292.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 402.35 m 292.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 402.35 m 392.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 402.35 m 392.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 387.35 m 392.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 402.35 m 392.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 402.35 m 492.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 402.35 m 492.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 387.35 m 492.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 402.35 m 492.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 402.35 m 545.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 402.35 m 545.5 402.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 387.35 m 545.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 387.35 m 74.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 387.35 m 292.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 387.35 m 292.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 372.35 m 292.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 387.35 m 292.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 387.35 m 392.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 387.35 m 392.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 372.35 m 392.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 387.35 m 392.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 387.35 m 492.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 387.35 m 492.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 372.35 m 492.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 387.35 m 492.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 387.35 m 545.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 387.35 m 545.5 387.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 372.35 m 545.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 372.35 m 74.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 372.35 m 292.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 372.35 m 292.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 357.35 m 292.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 372.35 m 292.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 372.35 m 392.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 372.35 m 392.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 357.35 m 392.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 372.35 m 392.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 372.35 m 492.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 372.35 m 492.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 357.35 m 492.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 372.35 m 492.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 372.35 m 545.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 372.35 m 545.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 357.35 m 545.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 357.35 m 74.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 357.35 m 292.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 357.35 m 292.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 342.35 m 292.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 357.35 m 292.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 357.35 m 392.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 357.35 m 392.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 342.35 m 392.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 357.35 m 392.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 357.35 m 492.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 357.35 m 492.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 342.35 m 492.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 357.35 m 492.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 357.35 m 545.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 357.35 m 545.5 357.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 342.35 m 545.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 342.35 m 74.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 342.35 m 292.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 342.35 m 292.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 316.35 m 292.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 342.35 m 292.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 342.35 m 392.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 342.35 m 392.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 316.35 m 392.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 342.35 m 392.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 342.35 m 492.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 342.35 m 492.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 316.35 m 492.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 342.35 m 492.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 342.35 m 545.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 342.35 m 545.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 316.35 m 545.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 316.35 m 74.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 316.35 m 292.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 316.35 m 292.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 301.35 m 292.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 316.35 m 292.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 316.35 m 392.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 316.35 m 392.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 301.35 m 392.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 316.35 m 392.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 316.35 m 492.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 316.35 m 492.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.35 m 492.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 316.35 m 492.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 316.35 m 545.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 316.35 m 545.5 316.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.35 m 545.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 301.35 m 74.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 301.35 m 292.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 301.35 m 292.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 286.35 m 292.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 301.35 m 292.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.35 m 392.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 301.35 m 392.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 286.35 m 392.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.35 m 392.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.35 m 492.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.35 m 492.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 286.35 m 492.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.35 m 492.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 301.35 m 545.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.35 m 545.5 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 286.35 m 545.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 286.35 m 74.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 286.35 m 292.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 286.35 m 292.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 271.35 m 292.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 286.35 m 292.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 286.35 m 392.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 286.35 m 392.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 271.35 m 392.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 286.35 m 392.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 286.35 m 492.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 286.35 m 492.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 271.35 m 492.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 286.35 m 492.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 286.35 m 545.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 286.35 m 545.5 286.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 271.35 m 545.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 271.35 m 74.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 271.35 m 292.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 271.35 m 292.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 256.35 m 292.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 271.35 m 292.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 271.35 m 392.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 271.35 m 392.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 256.35 m 392.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 271.35 m 392.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 271.35 m 492.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 271.35 m 492.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 256.35 m 492.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 271.35 m 492.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 271.35 m 545.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 271.35 m 545.5 271.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 256.35 m 545.5 256.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 256.35 m 74.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 256.35 m 292.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 241.35000000000002 m 292.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 241.35000000000002 m 392.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 256.35 m 392.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 256.35 m 492.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 241.35000000000002 m 492.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 256.35 m 492.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 256.35 m 545.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 241.35000000000002 m 545.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 241.35000000000002 m 74.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 241.35000000000002 m 292.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 241.35000000000002 m 292.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 226.35000000000002 m 292.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 241.35000000000002 m 392.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 226.35000000000002 m 392.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 241.35000000000002 m 392.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 241.35000000000002 m 492.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 241.35000000000002 m 492.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 226.35000000000002 m 492.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 241.35000000000002 m 492.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 241.35000000000002 m 545.5 226.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 241.35000000000002 m 545.5 241.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 226.35000000000002 m 545.5 226.35000000000002 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.40 416.97 Td (Quarter Ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.35 406.97 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.40 418.97 Td (Quarter Ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.35 406.97 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.50 418.97 Td (Percent) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.95 406.97 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.70 391.97 Td (Net income ) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 281.05 396.74 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 392.27 Td ($142.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.95 392.27 Td ($65.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.40 392.27 Td (1) Tj ET Q q 0 0 0 rg BT 524.96 392.27 Td (19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 392.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 161.15 376.97 Td (Diluted net income per share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.95 377.27 Td ($0.66) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.95 377.27 Td ($0.30) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.40 377.27 Td (120) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 377.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 165.00 361.97 Td (Consolidated pretax income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 362.27 Td ($184.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.40 362.27 Td ($102.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 362.27 Td (80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 362.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 129.25 346.97 Td (Adjusted pretax operating income ) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 281.01 351.74 Td (\(2\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.95 346.97 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 347.27 Td ($196.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.40 347.27 Td ($155.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 347.27 Td (26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 347.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 156.65 331.97 Td (Adjusted diluted net operating ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.00 320.97 Td (income per share) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 271.26 325.74 Td (\(2\) \(3\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.95 326.77 Td ($0.71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.95 326.77 Td ($0.46) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 326.77 Td (54) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 326.77 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 95.55 305.97 Td (Net premiums earned - mortgage insurance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 306.27 Td ($255.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.40 306.27 Td ($236.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 530.50 306.27 Td (8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 306.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.25 290.97 Td (MI New Insurance W) Tj ET Q q 0 0 0 rg BT 237.96 290.97 Td (ritten \(NIW\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.85 291.27 Td ($15,764) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.85 291.27 Td ($15,125) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 530.50 291.27 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 291.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 160.05 275.97 Td (MI primary insurance in force) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.25 276.27 Td ($217,096) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.25 276.27 Td ($196,541) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 276.27 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 276.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.45 260.97 Td (Book value per share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 261.27 Td ($15.69) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.40 261.27 Td ($13.88) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 261.27 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 261.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.75 245.97 Td (Return on Equity ) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 281.02 250.74 Td (\(4\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.60 245.97 Td (17.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.10 245.97 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 246.27 Td (8.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.10 246.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 246.27 Td (98) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 246.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 97.05 230.97 Td (Adjusted Net Operating Return on Equity ) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 281.04 235.74 Td (\(2\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.60 231.27 Td (19.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.10 231.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.60 231.27 Td (13.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.10 231.27 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.95 231.27 Td (39) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 231.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 45.00 209.54 Td (\(1\) ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 205.25 Td (Net income for the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 139.03 205.25 Td (third quarter) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 187.56 205.25 Td ( of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 200.07 205.25 Td (2018) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 220.09 205.25 Td ( includes a ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 265.61 205.25 Td ($4.5 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 311.14 205.25 Td ( pretax net loss on investments and other financial instruments ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 194.45 Td (and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 80.52 194.45 Td ($4.5 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 126.04 194.45 Td ( of pretax restructuring and other exit costs. Net income for the third quarter of 2017 includes \(i\) a $45.8 million ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 183.65 Td (pretax loss on induced conversion and debt extinguishment \(incurred to purchase the company's convertible debt prior to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 172.85 Td (maturity\), \(ii\) $2.5 million of net gains on investments and other financial instruments and \(iii\) $12.0 million of pretax restructuring ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 162.05 Td (and other exit costs related to the Mortgage and Real Estate Services segment. ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 45.00 155.54 Td (\(2\) ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 151.25 Td (Adjusted results, including adjusted pretax operating income, adjusted diluted net operating income per share, and adjusted net ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 140.45 Td (operating return on equity) Tj ET Q q 0 0 0 rg BT 164.90 140.45 Td (, are non-GAAP) Tj ET Q q 0 0 0 rg BT 228.10 140.45 Td ( financial measures. For definitions and a reconciliation of these measures to the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 129.65 Td (comparable GAAP) Tj ET Q q 0 0 0 rg BT 137.20 129.65 Td ( measures, see Exhibits ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 235.24 129.65 Td (F) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 240.58 129.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 260.60 129.65 Td (G) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 267.60 129.65 Td (.) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 45.00 123.14 Td (\(3\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.15 118.85 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 118.85 Td (Adjusted diluted net operating income per share is calculated using the company’) Tj ET Q q 0 0 0 rg BT 386.03 118.85 Td (s statutory tax rates of 21 percent in 2018 and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 108.05 Td (35 percent in 2017.) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 45.00 101.54 Td (\(4\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.15 97.25 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 97.25 Td (Calculated by dividing annualized net income by average stockholders' equity) Tj ET Q q 0 0 0 rg BT 370.74 97.25 Td (, based on the average of the beginning and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 63.00 86.45 Td (ending balances for each period presented.) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 757.75 Td (Adjusted pretax operating income for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.89 757.75 Td (quarter ended September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.55 757.75 Td (, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.67 757.75 Td ($196.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.38 757.75 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.30 757.75 Td ($155.6 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 745.75 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 73.34 745.75 Td ( for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 107.25 745.75 Td (quarter ended September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 262.92 745.75 Td (. ) Tj ET Q q 0 0 0 rg BT 267.92 745.75 Td (Adjusted diluted net operating income per share for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.18 745.75 Td (quarter ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 733.75 Td (ended September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.21 733.75 Td (, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 192.32 733.75 Td ($0.71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 217.35 733.75 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 222.91 733.75 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.60 733.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.50 733.75 Td (54) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.62 733.75 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.90 733.75 Td ($0.46) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.92 733.75 Td ( for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 455.83 733.75 Td (quarter ended September ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 721.75 Td (30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.93 721.75 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 697.75 Td (Book value per share at ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 153.40 697.75 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 244.02 697.75 Td (, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.14 697.75 Td ($15.69) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.72 697.75 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.28 697.75 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.98 697.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.88 697.75 Td (5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.44 697.75 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.71 697.75 Td ($15.01) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.30 697.75 Td ( at ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.19 697.75 Td (June 30, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 685.75 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.25 685.75 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 92.27 685.75 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 143.96 685.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 157.86 685.75 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.98 685.75 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.26 685.75 Td ($13.88) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.85 685.75 Td ( at ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.74 685.75 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.36 685.75 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 661.75 Td (“The third quarter was another exceptional one for Radian, with net income of $143 million, adjusted net operating ROE ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 649.75 Td (of 19%, 10% growth in mortgage insurance in force and 13% growth in book value,” said Radian’) Tj ET Q q 0 0 0 rg BT 472.29 649.75 Td (s Chief Executive ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 637.75 Td (Of) Tj ET Q q 0 0 0 rg BT 55.38 637.75 Td (ficer Rick ) Tj ET Q q 0 0 0 rg BT 99.09 637.75 Td (Thornberry) Tj ET Q q 0 0 0 rg BT 147.25 637.75 Td (. “Our performance reflects the quality of our team, the power of our customer relationships, the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 45.00 625.75 Td (strength and flexibility of our financial position, and the value of our $217 billion mortgage insurance portfolio.”) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 36.00 612.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 588.55 Td (THIRD QUARTER) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.77 588.55 Td ( HIGHLIGHTS ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 576.55 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 576.55 Td (Mortgage insurance NIW was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.94 576.55 Td ($15.8 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.31 576.55 Td ( for the quarter) Tj ET Q q 0 0 0 rg BT 324.35 576.55 Td (, representing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.28 576.55 Td (a decrease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.76 576.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.65 576.55 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.21 576.55 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 564.55 Td ($16.4 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 125.37 564.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 155.39 564.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 222.10 564.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 236.00 564.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.25 564.55 Td ( as well as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.71 564.55 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.41 564.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.30 564.55 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.87 564.55 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.14 564.55 Td ($15.1 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.51 564.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 552.55 Td (prior-year quarter) Tj ET Q q 0 0 0 rg BT 148.70 552.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 540.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 540.55 Td (Of the $15.8 billion in NIW in the third quarter of 2018, 78 percent was written with monthly premiums ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 528.55 Td (compared to 76 percent in the second quarter of 2018, and 77 percent a year ago. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 516.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 516.55 Td (Borrower-paid originations accounted for 91 percent of total NIW in the third quarter of 2018, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 504.55 Td (89 percent in the second quarter of 2018, and 78 percent a year ago.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 492.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 492.55 Td (Purchase originations accounted for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.32 492.55 Td (96) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.44 492.55 Td ( percent of total NIW in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.61 492.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.53 492.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.42 492.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.67 492.55 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.59 492.55 Td (95) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.71 492.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 480.55 Td (percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 171.37 480.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.08 480.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.98 480.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.23 480.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.25 480.55 Td (91) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.37 480.55 Td ( percent a year ago.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 456.55 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 456.55 Td (T) Tj ET Q q 0 0 0 rg BT 77.00 456.55 Td (otal primary mortgage insurance in force as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 283.21 456.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.83 456.55 Td (, grew to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.95 456.55 Td ($217.1 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.89 456.55 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.45 456.55 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 456.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.04 456.55 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 550.60 456.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 444.55 Td (percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.50 444.55 Td ($210.7 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.43 444.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.67 444.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.06 444.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.08 444.55 Td (an increase) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.78 444.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.67 444.55 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.80 444.55 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.07 444.55 Td ($196.5 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 574.01 444.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 432.55 Td (as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.46 432.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.08 432.55 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 420.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 420.55 Td (The composition of Radian’) Tj ET Q q 0 0 0 rg BT 229.00 420.55 Td (s mortgage insurance portfolio continues to improve, with ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.68 420.55 Td (94) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.80 420.55 Td ( percent ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 408.55 Td (consisting of new business written after 2008, including those loans that successfully completed the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 396.55 Td (Home ) Tj ET Q q 0 0 0 rg BT 136.90 396.55 Td (Af) Tj ET Q q 0 0 0 rg BT 146.17 396.55 Td (fordable Refinance Program \(HARP\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 384.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 384.55 Td (Persistency) Tj ET Q q 0 0 0 rg BT 158.94 384.55 Td (, which is the percentage of mortgage insurance that remains in force after a 12-month period, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 372.55 Td (was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 128.56 372.55 Td (81.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 148.02 372.55 Td ( percent as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.39 372.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.01 372.55 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.93 372.55 Td (80.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.40 372.55 Td ( percent as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.77 372.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.16 372.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.17 372.55 Td (80.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.64 372.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 360.55 Td (percent as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.59 360.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.21 360.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 348.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 348.55 Td (Annualized persistency for the three months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.47 348.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.09 348.55 Td (, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.21 348.55 Td (83.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.67 348.55 Td ( percent, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 336.55 Td (82.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.46 336.55 Td ( percent for the three months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.23 336.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.62 336.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.64 336.55 Td (80.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.10 336.55 Td ( percent for the three months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 324.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 198.62 324.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 300.55 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 300.55 Td (Net mortgage insurance premiums earned were ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.55 300.55 Td ($255.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.25 300.55 Td ( for the quarter ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.21 300.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.83 300.55 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 288.55 Td (compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 130.36 288.55 Td ($249.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 192.07 288.55 Td ( for the quarter ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.02 288.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.41 288.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.43 288.55 Td ($236.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.14 288.55 Td ( for the quarter ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 276.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 162.62 276.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 264.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 264.55 Td (Mortgage insurance in force premium yield was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.31 264.55 Td (48.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.78 264.55 Td ( basis points in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.38 264.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.30 264.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.20 264.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.44 264.55 Td (, a slight ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 252.55 Td (increase compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.94 252.55 Td (48.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.40 252.55 Td ( basis points in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.01 252.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.72 252.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.61 252.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.86 252.55 Td ( and in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.34 252.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.26 252.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 532.16 252.55 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.40 252.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 240.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 240.55 Td (T) Tj ET Q q 0 0 0 rg BT 113.00 240.55 Td (otal net mortgage insurance premium yield, which includes the impact of ceded premiums and accrued ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 228.55 Td (profit commission, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.92 228.55 Td (47.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.38 228.55 Td ( basis points in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.98 228.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.90 228.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.80 228.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.04 228.55 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.96 228.55 Td (48.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.43 228.55 Td ( basis points in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 216.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.71 216.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 188.61 216.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.85 216.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 235.87 216.55 Td (48.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 255.33 216.55 Td ( basis points in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.94 216.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.86 216.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.75 216.55 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.00 216.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 204.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 204.55 Td (Additional details regarding notable variable items impacting premiums earned may be found in Exhibit ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.36 204.55 Td (D) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 571.58 204.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 180.55 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 180.55 Td (The mortgage insurance provision for losses was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.10 180.55 Td ($20.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.25 180.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.26 180.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.18 180.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.08 180.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.32 180.55 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 532.24 180.55 Td ($19.4 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 168.55 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 100.34 168.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 130.36 168.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 197.07 168.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.96 168.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.21 168.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.23 168.55 Td ($36.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 314.37 168.55 Td ( in the prior-year quarter) Tj ET Q q 0 0 0 rg BT 421.09 168.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 156.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 156.55 Td (The number of primary delinquent loans was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.10 156.55 Td (20,770) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.69 156.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.92 156.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.54 156.55 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.10 156.55 Td (a decrease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.58 156.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.48 156.55 Td (6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.04 156.55 Td ( percent ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 144.55 Td (compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.36 144.55 Td (22,088) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 196.95 144.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 224.19 144.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.58 144.55 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.82 144.55 Td (a decrease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.29 144.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.19 144.55 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.31 144.55 Td ( percent compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.59 144.55 Td (23,826) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.17 144.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 132.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 198.62 132.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 120.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 120.55 Td (The primary mortgage insurance delinquency rate ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.45 120.55 Td (decreased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.15 120.55 Td ( to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.04 120.55 Td (2.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.94 120.55 Td ( percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.10 120.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.01 120.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.91 120.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.16 120.55 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 108.55 Td (compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.36 108.55 Td (2.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.27 108.55 Td ( percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.42 108.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.13 108.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.02 108.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.27 108.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.29 108.55 Td (2.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.19 108.55 Td ( percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.34 108.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.26 108.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.16 108.55 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.40 108.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 96.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 96.55 Td (The loss ratio in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 198.04 96.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.96 96.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.86 96.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.10 96.55 Td ( was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.44 96.55 Td (8.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.34 96.55 Td ( percent, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.40 96.55 Td (7.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.30 96.55 Td ( percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.45 96.55 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 572.16 96.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 84.55 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 119.12 84.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.36 84.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.38 84.55 Td (15.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.85 84.55 Td ( percent in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.00 84.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.92 84.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 319.81 84.55 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.06 84.55 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 72.55 Td (– ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 72.55 Td (Mortgage insurance loss reserves were ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.30 72.55 Td ($409.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.00 72.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.24 72.55 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.86 72.55 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 528.78 72.55 Td ($448.1 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 60.55 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.34 60.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.58 60.55 Td (June 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.96 60.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.98 60.55 Td ($556.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.69 60.55 Td ( as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.92 60.55 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.54 60.55 Td (. ) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 748.75 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 748.75 Td (T) Tj ET Q q 0 0 0 rg BT 77.00 748.75 Td (otal mortgage insurance claims paid were ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 264.31 748.75 Td ($59.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.46 748.75 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.48 748.75 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.39 748.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.29 748.75 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.54 748.75 Td (, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.46 748.75 Td ($56.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.60 748.75 Td ( in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 736.75 Td (the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.68 736.75 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 155.39 736.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.29 736.75 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.53 736.75 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.55 736.75 Td ($131.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.25 736.75 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.27 736.75 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.19 736.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.09 736.75 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.33 736.75 Td (. Claims paid in the third quarter of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 724.75 Td (2017 were elevated due to payments made under the Freddie Mac agreement entered into in ) Tj ET Q q 0 0 0 rg BT 486.15 724.75 Td (August 2013, as the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 712.75 Td (final settlement date was reached during the quarter) Tj ET Q q 0 0 0 rg BT 302.14 712.75 Td (. In addition, the company’) Tj ET Q q 0 0 0 rg BT 418.70 712.75 Td (s pending claim inventory ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.31 712.75 Td (declined) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 571.57 712.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 700.75 Td (28) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.12 700.75 Td ( percent from ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.81 700.75 Td (September 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 235.43 700.75 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 676.75 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 676.75 Td (T) Tj ET Q q 0 0 0 rg BT 77.00 676.75 Td (otal Mortgage and Real Estate Services Segment revenues for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.83 676.75 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.75 676.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.64 676.75 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.89 676.75 Td ( were ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.12 676.75 Td ($40.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.26 676.75 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 664.75 Td (compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 130.36 664.75 Td ($40.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.51 664.75 Td ( for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.41 664.75 Td (second quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.12 664.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 301.02 664.75 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.26 664.75 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.28 664.75 Td ($41.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.43 664.75 Td ( for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.33 664.75 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.25 664.75 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.15 664.75 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 528.39 664.75 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 652.75 Td (Beginning in the second quarter of 2018, revenues for the Segment include Radian's national title insurance and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 640.75 Td (settlement services company) Tj ET Q q 0 0 0 rg BT 200.20 640.75 Td (, which represented ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.25 640.75 Td ($3.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.83 640.75 Td ( in the third quarter of 2018 and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.15 640.75 Td ($2.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.73 640.75 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 628.75 Td (second quarter of 2018. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 603.55 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 603.55 Td (Other operating expenses were ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.30 603.55 Td ($70.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.45 603.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.47 603.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.38 603.55 Td ( of 2018, compared to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.45 603.55 Td ($70.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.59 603.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.61 603.55 Td (second ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 591.55 Td (quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 103.68 591.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.58 591.55 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.83 591.55 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 164.85 591.55 Td ($64.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.99 591.55 Td ( in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.01 591.55 Td (third quarter) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.92 591.55 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.82 591.55 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.07 591.55 Td (. Beginning in the second quarter of 2018, operating ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 579.55 Td (expenses include expenses related to Radian's national title insurance and settlement services company acquired ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 567.55 Td (in March 2018, which represented $4.2 million in the third quarter of 2018 and $3.7 million in the second quarter ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 555.55 Td (of 2018. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 517.15 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 65.26 517.15 Td (AL) Tj ET Q q 0 0 0 rg BT 78.41 517.15 Td ( ) Tj ET Q q 0 0 0 rg BT 80.81 517.15 Td (AND LIQUIDITY) Tj ET Q q 0 0 0 rg BT 154.52 517.15 Td ( UPDA) Tj ET Q q 0 0 0 rg BT 184.89 517.15 Td (TE ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 200.45 517.15 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 505.15 Td (Radian Group maintained $246 million of available liquidity as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.84 505.15 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.46 505.15 Td (, which excludes the $31 million ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 493.15 Td (expected to be submitted to the U.S. Department of the ) Tj ET Q q 0 0 0 rg BT 283.18 493.15 Td (T) Tj ET Q q 0 0 0 rg BT 288.92 493.15 Td (reasury for the previously disclosed IRS settlement. ) Tj ET Q q 0 0 0 rg BT 519.39 493.15 Td (T) Tj ET Q q 0 0 0 rg BT 524.39 493.15 Td (otal ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 481.15 Td (liquidity) Tj ET Q q 0 0 0 rg BT 68.61 481.15 Td (, which includes the company’) Tj ET Q q 0 0 0 rg BT 201.27 481.15 Td (s $225 million unsecured revolving credit facility entered into in October 2017, was ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 469.15 Td ($471 million as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 116.60 469.15 Td (September 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 207.22 469.15 Td (. ) Tj ET Q q 0 0 0 rg BT 212.60 469.15 Td (The company remains focused on optimizing its capital position, enhancing its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 457.15 Td (return on capital, and increasing its financial flexibility) Tj ET Q q 0 0 0 rg BT 270.38 457.15 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 445.15 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 445.15 Td (In ) Tj ET Q q 0 0 0 rg BT 82.57 445.15 Td (August 2018, Radian's Board of Directors approved a new share repurchase program that enables the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 433.15 Td (company to repurchase its common stock. ) Tj ET Q q 0 0 0 rg BT 261.90 433.15 Td (The shares may be purchased in the open market or in privately ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 421.15 Td (negotiated transactions. ) Tj ET Q q 0 0 0 rg BT 180.78 421.15 Td (The company’) Tj ET Q q 0 0 0 rg BT 243.41 421.15 Td (s previous $50 million share repurchase program was fully utilized and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 409.15 Td (expired on June 30, 2018. ) Tj ET Q q 0 0 0 rg BT 193.02 409.15 Td (The new authorization provides Radian the flexibility to repurchase shares ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 397.15 Td (opportunistically from time to time and spend up to $100 million, based on market and business conditions, stock ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 385.15 Td (price and other factors. ) Tj ET Q q 0 0 0 rg BT 176.87 385.15 Td (The authorization expires on July 31, 2019. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 373.15 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 373.15 Td (At September 30, 2018, Radian Guaranty’) Tj ET Q q 0 0 0 rg BT 258.04 373.15 Td (s ) Tj ET Q q 0 0 0 rg BT 265.27 373.15 Td (A) Tj ET Q q 0 0 0 rg BT 271.76 373.15 Td (vailable ) Tj ET Q q 0 0 0 rg BT 307.90 373.15 Td (Assets under the Private Mortgage Insurer Eligibility ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 361.15 Td (Requirements \(PMIERs\) totaled approximately $3.8 billion, resulting in an excess or “cushion” of approximately ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 349.15 Td ($530 million, or 16%, over its Minimum Required ) Tj ET Q q 0 0 0 rg BT 289.31 349.15 Td (Assets of approximately $3.3 billion. ) Tj ET Q q 0 0 0 rg BT 451.44 349.15 Td (This compares to a cushion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 337.15 Td (of $480 million at June 30, 2018, and $237 million at September 30, 2017.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 325.15 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 325.15 Td (In September 2018, Radian Guaranty received the new PMIERs \(PMIERs 2.0\) of Fannie Mae and Freddie Mac ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 313.15 Td (\(GSEs\). Radian expects to fully comply with PMIERs 2.0 and to maintain an excess of ) Tj ET Q q 0 0 0 rg BT 457.17 313.15 Td (A) Tj ET Q q 0 0 0 rg BT 463.66 313.15 Td (vailable ) Tj ET Q q 0 0 0 rg BT 499.80 313.15 Td (Assets over ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 301.15 Td (Minimum Required ) Tj ET Q q 0 0 0 rg BT 158.14 301.15 Td (Assets as of the ef) Tj ET Q q 0 0 0 rg BT 240.23 301.15 Td (fective date of March 31, 2019. If applied as of September 30, 2018, the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 289.15 Td (PMIERs 2.0 changes would not have resulted in a material change in Radian’) Tj ET Q q 0 0 0 rg BT 414.24 289.15 Td (s Minimum Required ) Tj ET Q q 0 0 0 rg BT 508.16 289.15 Td (Assets, but ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 277.15 Td (would have reduced Radian’) Tj ET Q q 0 0 0 rg BT 198.02 277.15 Td (s ) Tj ET Q q 0 0 0 rg BT 205.24 277.15 Td (A) Tj ET Q q 0 0 0 rg BT 211.73 277.15 Td (vailable ) Tj ET Q q 0 0 0 rg BT 247.87 277.15 Td (Assets by approximately $200 million, primarily due to the elimination of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 265.15 Td (any credit for future premiums that is currently allowed for insurance policies written prior to and including 2008. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 253.15 Td (The company expects this impact to be substantially of) Tj ET Q q 0 0 0 rg BT 314.16 253.15 Td (fset by an increase in ) Tj ET Q q 0 0 0 rg BT 410.89 253.15 Td (A) Tj ET Q q 0 0 0 rg BT 417.38 253.15 Td (vailable ) Tj ET Q q 0 0 0 rg BT 453.51 253.15 Td (Assets prior to the ef) Tj ET Q q 0 0 0 rg BT 545.04 253.15 Td (fective ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 241.15 Td (date of March 31, 2019, based on its projections for positive operating results. ) Tj ET Q q 0 0 0 rg BT 418.68 241.15 Td (The company's expectation is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 229.15 Td (based on its strong capital position, its current NIW forecast and the benefits of its existing reinsurance programs, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 217.15 Td (and is not dependent on any additional capital actions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 205.15 Td (• ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 205.15 Td (The terms of Radian’) Tj ET Q q 0 0 0 rg BT 164.64 205.15 Td (s three-year credit facility) Tj ET Q q 0 0 0 rg BT 275.04 205.15 Td (, entered into in October 2017, include an option to increase the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 193.15 Td (capacity during the term of the agreement, up to a total of $300 million. Ef) Tj ET Q q 0 0 0 rg BT 397.00 193.15 Td (fective October 26, 2018, Radian further ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 181.15 Td (increased its financial flexibility by adding another global bank to the existing lender group for its credit facility) Tj ET Q q 0 0 0 rg BT 552.63 181.15 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 169.15 Td (thereby increasing total commitments by $42.5 million and bringing the aggregate unsecured revolving credit ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 157.15 Td (facility commitment from $225.0 million to $267.5 million. ) Tj ET Q q 0 0 0 rg BT 324.88 157.15 Td (At September 30, 2018, no amounts were outstanding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 145.15 Td (under the credit facility) Tj ET Q q 0 0 0 rg BT 171.31 145.15 Td (. Borrowings under the credit facility may be used for working capital and general corporate ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 133.15 Td (purposes, including, without limitation, capital contributions to Radian’) Tj ET Q q 0 0 0 rg BT 379.21 133.15 Td (s insurance and reinsurance subsidiaries as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 121.15 Td (well as growth initiatives, subject to certain limitations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 71.95 Td (CONFERENCE CALL) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 135.44 71.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 59.95 Td (Radian will discuss third quarter financial results in a conference call today) Tj ET Q q 0 0 0 rg BT 364.31 59.95 Td (, W) Tj ET Q q 0 0 0 rg BT 379.13 59.95 Td (ednesday) Tj ET Q q 0 0 0 rg BT 421.75 59.95 Td (, October 31, 2018, at 9:00 a.m. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 47.95 Td (Eastern time. ) Tj ET Q q 0 0 0 rg BT 97.51 47.95 Td (The conference call will be broadcast live over the Internet at ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 369.3203125 46.524218750000045 m 566.7470703125 46.524218750000045 l s q 0 0 1 rg BT 369.32 47.95 Td (http://www) Tj ET Q q 0 0 1 rg BT 415.45 47.95 Td (.radian.biz/page?name=W) Tj ET Q q 0 0 1 rg BT 532.28 47.95 Td (ebcasts) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 566.75 47.95 Td ( ) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 748.75 Td (or at ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 58.7880859375 747.32421875 m 126.0390625 747.32421875 l s q 0 0 1 rg BT 58.79 748.75 Td (www) Tj ET Q q 0 0 1 rg BT 79.90 748.75 Td (.radian.biz) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 126.04 748.75 Td (. ) Tj ET Q q 0 0 0 rg BT 134.19 748.75 Td (The call may also be accessed by dialing 800.230.1085 inside the U.S., or 612.234.9959 for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 736.75 Td (international callers, using passcode 454997 or by referencing Radian.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 712.75 Td (A) Tj ET Q q 0 0 0 rg BT 42.12 712.75 Td ( replay of the webcast will be available on the Radian website approximately two hours after the live broadcast ends for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 700.75 Td (a period of one year) Tj ET Q q 0 0 0 rg BT 124.40 700.75 Td (. ) Tj ET Q q 0 0 0 rg BT 129.40 700.75 Td (A) Tj ET Q q 0 0 0 rg BT 135.52 700.75 Td ( replay of the conference call will be available approximately two and a half hours after the call ends ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 688.75 Td (for a period of two weeks, using the following dial-in numbers and passcode: 800.475.6701 inside the U.S., or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 676.75 Td (320.365.3844 for international callers, passcode 454997.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 652.75 Td (In addition to the information provided in the company's earnings news release, other statistical and financial information, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 640.75 Td (which is expected to be referred to during the conference call, will be available on Radian's website under Investors > ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 628.75 Td (Quarterly Results, or by clicking on ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 193.2802734375 627.32421875 m 421.4541015625 627.32421875 l s q 0 0 1 rg BT 193.28 628.75 Td (http://www) Tj ET Q q 0 0 1 rg BT 239.41 628.75 Td (.radian.biz/page?name=QuarterlyResults) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 421.45 628.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 604.75 Td (NON-GAAP) Tj ET Q q 0 0 0 rg BT 90.26 604.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 146.74 604.75 Td ( MEASURES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 592.75 Td (Radian believes that adjusted pretax operating income, adjusted diluted net operating income per share and adjusted net ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 580.75 Td (operating return on equity \(non-GAAP) Tj ET Q q 0 0 0 rg BT 203.70 580.75 Td ( measures\) facilitate evaluation of the company’) Tj ET Q q 0 0 0 rg BT 414.74 580.75 Td (s fundamental financial performance ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 568.75 Td (and provide relevant and meaningful information to investors about the ongoing operating results of the company) Tj ET Q q 0 0 0 rg BT 533.91 568.75 Td (. On a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 556.75 Td (consolidated basis, these measures are not recognized in accordance with accounting principles generally accepted in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 544.75 Td (the United States of ) Tj ET Q q 0 0 0 rg BT 126.06 544.75 Td (America \(GAAP\) and should not be considered in isolation or viewed as substitutes for GAAP) Tj ET Q q 0 0 0 rg BT 538.31 544.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 532.75 Td (measures of performance. ) Tj ET Q q 0 0 0 rg BT 155.32 532.75 Td (The measures described below have been established in order to increase transparency for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 520.75 Td (the purpose of evaluating the company’) Tj ET Q q 0 0 0 rg BT 210.38 520.75 Td (s operating trends and enabling more meaningful comparisons with Radian’) Tj ET Q q 0 0 0 rg BT 544.28 520.75 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 508.75 Td (competitors. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 484.75 Td (Adjusted pretax operating income is defined as earnings excluding the impact of certain items that are not viewed as part ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 472.75 Td (of the operating performance of the company’) Tj ET Q q 0 0 0 rg BT 237.61 472.75 Td (s primary activities, or not expected to result in an economic impact equal to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 460.75 Td (the amount reflected in pretax income. ) Tj ET Q q 0 0 0 rg BT 208.32 460.75 Td (Adjusted pretax operating income adjusts GAAP) Tj ET Q q 0 0 0 rg BT 422.15 460.75 Td ( pretax income to remove the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 448.75 Td (ef) Tj ET Q q 0 0 0 rg BT 44.16 448.75 Td (fects of: \(i\) net gains \(losses\) on investments and other financial instruments; \(ii\) loss on induced conversion and debt ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 436.75 Td (extinguishment; \(iii\) acquisition-related expenses; \(iv\) amortization or impairment of goodwill and other acquired intangible ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 424.75 Td (assets; and \(v\) net impairment losses recognized in earnings and losses from the sale of business lines. ) Tj ET Q q 0 0 0 rg BT 497.90 424.75 Td (Adjusted diluted ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 412.75 Td (net operating income per share represents a diluted net income per share calculation using as its basis adjusted pretax ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 400.75 Td (operating income, net of taxes at the company’) Tj ET Q q 0 0 0 rg BT 243.16 400.75 Td (s statutory tax rate for the period. ) Tj ET Q q 0 0 0 rg BT 392.13 400.75 Td (Adjusted net operating return on equity is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 388.75 Td (calculated by dividing annualized adjusted pretax operating income, net of taxes computed using the company's statutory ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 376.75 Td (tax rate, by average stockholders' equity) Tj ET Q q 0 0 0 rg BT 213.93 376.75 Td (, based on the average of the beginning and ending balances for each period ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 364.75 Td (presented. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 340.75 Td (The company has also presented a non-GAAP) Tj ET Q q 0 0 0 rg BT 242.61 340.75 Td ( measure for tangible book value per share, which represents book value ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 328.75 Td (per share less the per-share impact of goodwill and other acquired intangible assets, net. ) Tj ET Q q 0 0 0 rg BT 431.60 328.75 Td (The company uses this ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 316.75 Td (measure to assess the quality and growth of its capital. Because tangible book value per share is a widely used financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 304.75 Td (measure which focuses on the underlying fundamentals of the company’) Tj ET Q q 0 0 0 rg BT 356.00 304.75 Td (s financial position and operating trends without ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 292.75 Td (the impact of goodwill and other acquired intangible assets, the company believes that current and prospective investors ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 280.75 Td (may find it useful in their analysis.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 256.75 Td (In addition to the above non-GAAP) Tj ET Q q 0 0 0 rg BT 190.37 256.75 Td ( measures for the consolidated company) Tj ET Q q 0 0 0 rg BT 369.73 256.75 Td (, the company also presents as supplemental ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 244.75 Td (information a non-GAAP) Tj ET Q q 0 0 0 rg BT 144.21 244.75 Td ( measure for the Services segment, representing earnings before interest, income tax provision ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 232.75 Td (\(benefit\), depreciation and amortization \(EBITDA\). Services adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 377.82 232.75 Td ( is calculated by using the Services ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 220.75 Td (segment’) Tj ET Q q 0 0 0 rg BT 76.40 220.75 Td (s adjusted pretax operating income as described above, further adjusted to remove the impact of depreciation ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 208.75 Td (and corporate allocations for interest and operating expenses. In addition, the company also has presented a related non-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 196.75 Td (GAAP) Tj ET Q q 0 0 0 rg BT 63.61 196.75 Td ( measure, Services adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 228.12 196.75 Td ( margin, which is calculated by dividing Services adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 520.48 196.75 Td ( by GAAP) Tj ET Q q 0 0 0 rg BT 564.21 196.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 184.75 Td (total revenue for the Services segment. Services adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 330.03 184.75 Td ( and Services adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 469.55 184.75 Td ( margin are presented ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 172.75 Td (to facilitate comparisons with other services companies, since they are widely accepted measures of performance in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 160.75 Td (services industry and are used internally as supplemental measures to evaluate the performance of our Services ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 148.75 Td (segment. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 124.75 Td (See Exhibit ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 89.36 124.75 Td (F) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 95.47 124.75 Td ( or Radian’) Tj ET Q q 0 0 0 rg BT 143.65 124.75 Td (s website for a description of these items, as well as Exhibit ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.33 124.75 Td (G) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.10 124.75 Td ( for reconciliations to the most ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 112.75 Td (comparable consolidated GAAP) Tj ET Q q 0 0 0 rg BT 177.57 112.75 Td ( measures. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 75.55 Td (ABOUT RADIAN) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 113.22 75.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 50.35 Td (Radian is ensuring the ) Tj ET Q q 0 0 0 rg BT 137.73 50.35 Td (American dream of homeownership responsibly and sustainably through products and services ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 38.35 Td (that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate, and title ) Tj ET Q endstream endobj 11 0 obj <>>><>>>] /Rotate 0 /Contents 12 0 R>> endobj 12 0 obj <> stream BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 748.75 Td (services. W) Tj ET Q q 0 0 0 rg BT 87.49 748.75 Td (e are powered by technology) Tj ET Q q 0 0 0 rg BT 215.17 748.75 Td (, informed by data and driven to deliver new and better ways to transact and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 736.75 Td (manage risk. Learn more about Radian’) Tj ET Q q 0 0 0 rg BT 211.47 736.75 Td (s financial strength and flexibility at ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 368.7783203125 735.32421875 m 436.029296875 735.32421875 l s q 0 0 1 rg BT 368.78 736.75 Td (www) Tj ET Q q 0 0 1 rg BT 389.89 736.75 Td (.radian.biz) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 436.03 736.75 Td ( and visit ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 478.2705078125 735.32421875 m 551.6298828125 735.32421875 l s q 0 0 1 rg BT 478.27 736.75 Td (www) Tj ET Q q 0 0 1 rg BT 499.38 736.75 Td (.radian.com) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 551.63 736.75 Td ( to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 724.75 Td (see how Radian is shaping the future of mortgage and real estate services.) 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