Radian Releases Delinquency Data for May
10 Juin 2011 - 2:00PM
Business Wire
Radian Guaranty Inc., the mortgage insurance subsidiary of
Radian Group Inc., today released data for primary mortgage
insurance delinquencies for May 2011. These details may also be
found on Radian’s website at
http://www.radian.biz/page?name=NewsReleases.
The information below regarding new delinquencies and cures is
reported to Radian from loan servicers. The accuracy of these
reports may be affected by several factors, including the date on
which the report is generated and by the timing of servicing
transfers.
April 2011 May 2011 Primary New
Insurance Written ($ in billions) $0.7 $0.7
Beginning Primary Delinquent Inventory
(# of loans)
116,896
115,020
Plus: New Delinquencies 7,222 7,844 Less: Cures
(5,978) (5,217) Less: Paids
(including those charged to a deductible
or captive)
(2,528)
(2,613)
Less: Rescissions and Denials (592) (841)
Ending
Primary Delinquent Inventory
(# of loans)
115,020
114,193
For the months of April and May, the company noted a relative
improvement in the impact on reserve development and loss provision
as a result of the change in the composition of the delinquent loan
inventory. This compares to previous quarters, when Radian’s
reserves were significantly and negatively impacted by a change in
the composition of the delinquent loan inventory, resulting from
the higher reserve associated with the aging of delinquent loans
and loans moving into pending claim status.
You may find additional details on the company’s provision for
losses in the first quarter of 2011 on page 12 of Radian’s
quarterly presentation slides at
http://www.radian.biz/page?name=QuarterlyResults.
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.biz.
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 review the “Risk Factors”
detailed in Item 1A of Part II of the company’s Quarterly Report on
Form 10-Q for the quarterly period ended March 31, 2011, and
subsequent reports and registration statements filed from time to
time with the Securities and Exchange Commission.
Radian (NYSE:RDN)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Radian (NYSE:RDN)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024