Current Report Filing (8-k)
07 Octobre 2014 - 2:29PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported) October
7, 2014
Radian Group Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
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1-11356
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23-2691170
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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1601
Market Street, Philadelphia, Pennsylvania
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19103
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(215) 231 - 1000
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction
A.2. below):
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 2.02. Results of Operations and Financial
Condition.
On October 7, 2014, Radian Guaranty Inc. (“Radian Guaranty”), the
mortgage insurance subsidiary of Radian Group Inc. (the “Company”),
issued a news release announcing, among other things:
●
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The delinquency data for its mortgage insurance business for
September 2014; and
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●
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During the monthly period ending September 30, 2014, Radian
Guaranty wrote $3.79 billion of new insurance written.
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A copy of this news release is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
The information included in, or furnished with, this report shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 (the "Exchange Act"), nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933 or the Exchange
Act, except as shall be expressly set forth by specific reference in
such filing.
Forward-looking Statements
Some of the statements in this Current Report on Form 8-K may constitute
“forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities and Exchange Act
of 1934 and the United States Private Securities Litigation Reform Act
of 1995. Words such as "will," "expects," "believes" and similar
expressions are used to identify these forward-looking statements. These
forward-looking statements, which may include without limitation,
projections regarding our future performance and financial condition,
are made on the basis of management’s current views and assumptions with
respect to future events. Any forward-looking statement is not a
guarantee of future performance and actual results could differ
materially from those contained in the forward-looking statement. 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. We
operate in a changing environment. New risks emerge from time to time
and it is not possible for us to predict all risks that may affect
us. 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 the Company’s Annual
Report on Form 10-K for the year ended December 31, 2013, Item 1A of
Part I of the Company’s Quarterly Report on Form 10-Q filed in 2014 and
subsequent reports and registration statements filed from time to time
with the Securities and Exchange Commission.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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99.1*
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Radian Guaranty Inc. News Release dated October 7, 2014.
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* Furnished herewith.
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SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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RADIAN GROUP INC.
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(Registrant)
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Date:
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October 7, 2014
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By:
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/s/ C. Robert Quint
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C. Robert Quint
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Chief Financial Officer
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EXHIBIT INDEX
Exhibit
No.
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Description
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99.1*
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Radian Guaranty Inc. News Release dated October 7, 2014
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* Furnished herewith.
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Exhibit 99.1
Radian
Releases Delinquency Data for September
PHILADELPHIA--(BUSINESS WIRE)--October 7, 2014--Radian Guaranty Inc.,
the mortgage insurance subsidiary of Radian Group Inc., today released
data for primary mortgage insurance delinquencies for September 2014.
These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases.
Previously released historical data is also available on the website at http://www.radian.biz/page?name=FinancialReportsMortgageInsurance.
The information below regarding new delinquencies and cures is reported
to Radian from loan servicers. Default reporting, particularly on a
monthly basis, may be affected by several factors, including the date on
which the report is generated and transmitted to Radian, updated
information submitted by servicers and by the timing of servicing
transfers.
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September 2014
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Primary New Insurance Written ($ in billions)
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$3.79
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Beginning Primary Delinquent Inventory (# of loans)
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47,364
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Plus: New Delinquencies
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4,012
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Less: Cures
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(3,558)
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Less: Paids
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(including those charged to a deductible or captive)
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(850)
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Less: Rescissions and Denials (1)
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(125)
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Ending Primary Delinquent Inventory (# of loans)
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46,843
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(1)
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Rescissions and Denials are net of actual reinstatements for
the period. For additional details on reinstatement trends as of
June 30, 2014, refer to Slide 21 of Radian’s Second Quarter 2014
Presentation Slides available in the Investors section of Radian’s
website at www.radian.biz.
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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 Section 27A of the
Securities Act of 1933, Section 21E of the Securities and Exchange Act
of 1934 and the United States Private Securities Litigation Reform Act
of 1995. Words such as "will," "expects," "believes" and similar
expressions are used to identify these forward-looking statements. These
forward-looking statements, which may include without limitation,
projections regarding our future performance and financial condition,
are made on the basis of management’s current views and assumptions with
respect to future events. Any forward-looking statement is not a
guarantee of future performance and actual results could differ
materially from those contained in the forward-looking statement. These
statements speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. We operate
in a changing environment. New risks emerge from time to time and it is
not possible for us to predict all risks that may affect us. 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, 2013, Item 1A of Part II of our Quarterly
Reports on Form 10-Q filed in 2014, and subsequent reports and
registration statements filed from time to time with the Securities and
Exchange Commission.
CONTACT:
Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz
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