Radian Promotes Derek Brummer to Lead Mortgage Insurance & Risk Services & Appoints Eric Ray as Head of Technology & Transact...
26 Février 2018 - 12:30PM
Business Wire
Radian Group Inc. today announced two executive appointments.
Derek Brummer has been promoted to senior executive vice president,
Mortgage Insurance and Risk Services and Eric R. Ray has been
appointed senior executive vice president, Technology and
Transaction Services.
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Eric Ray, Radian's Senior Executive Vice
President, Technology and Transaction Services (Photo: Business
Wire)
“As we position our company for the future, I believe that
expanding Derek’s role and welcoming Eric to the Radian team will
help drive our success. We have an established leadership position
with our large, high-quality mortgage insurance portfolio and have
made tremendous progress in refocusing our Mortgage and Real Estate
Services businesses,” said Chief Executive Officer Rick Thornberry.
“With Derek’s continued leadership and outstanding credit risk
discipline, and Eric’s proven expertise in transforming businesses
and enabling best-in-class technologies, I am confident we have the
right team in place to shape our future, support our customers and
deliver even greater shareholder value.”
Derek Brummer Promoted to Lead Mortgage Insurance and Risk
Services
Brummer, 47, has been promoted to the newly created position of
senior executive vice president, Mortgage Insurance and Risk
Services. In this role, he will continue to be responsible for
credit risk management strategy and policy, while also leading
Radian’s Mortgage Insurance and Risk Services business and the team
responsible for all mortgage insurance, credit risk products and
operations. His primary focus will be to grow the value of Radian’s
high-quality mortgage insurance portfolio and to expand and evolve
the company’s credit risk products and services.
Brummer joined Radian in 2002 and has served as Radian’s chief
risk officer since 2013. Prior to that, he was chief risk officer
and general counsel for Radian’s financial guaranty company. Prior
to joining Radian, Brummer was a corporate associate at Allen &
Overy as well as Cravath, Swaine & Moore, both in New York. He
holds a bachelor’s degree from the University of Nebraska at
Lincoln and a J.D. from New York University School of Law.
Eric Ray Appointed Head of Technology and Transaction
Services
Ray, 56, has been appointed senior executive vice president,
Technology and Transaction Services. In this newly created role,
Ray will drive the strategic transformation of Radian’s Mortgage
and Real Estate Services businesses, while providing the overall
vision, strategy and leadership for Radian’s information technology
functions enterprise-wide.
Ray has more than 30 years of experience in the technology
sector. Most recently, he served as general manager, Global
Technology Services at IBM Corporation where he was responsible for
the IBM North American technology consulting business, project
based services and enterprise-wide technology offerings. Ray holds
a bachelor’s degree from Michigan State University and an MBA from
the University of Detroit.
ABOUT RADIAN
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia,
provides private mortgage insurance, risk management products and
real estate services to financial institutions. Radian offers
products and services through two business segments:
- Mortgage Insurance, through its
principal mortgage insurance subsidiary Radian Guaranty Inc. This
private mortgage insurance helps protect lenders from
default-related losses, facilitates the sale of low-downpayment
mortgages in the secondary market and enables homebuyers to
purchase homes more quickly with downpayments less than 20%.
- Mortgage and Real Estate Services,
through its principal services subsidiary Clayton, as well as Green
River Capital, Red Bell Real Estate and ValuAmerica. These
solutions include information and services that financial
institutions, investors and government entities use to evaluate,
acquire, securitize, service and monitor loans and asset-backed
securities.
Additional information may be found at www.radian.biz.
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Radian Group Inc.Emily Riley, 215-231-1035emily.riley@radian.biz
Radian (NYSE:RDN)
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