Radian Releases Monthly Operating Statistics for June 2020
10 Juillet 2020 - 12:30PM
Business Wire
Radian Guaranty Inc. (“Radian Guaranty”), the mortgage insurance
subsidiary of Radian Group Inc., today reported selected operating
statistics for the months of April, May and June 2020. The
information includes total new primary defaults, which include
defaults under forbearance programs in response to the COVID-19
pandemic, as well as cures, claims paid and rescissions/denials.
The information regarding new defaults and cures is reported to
Radian Guaranty from loan servicers. We consider a loan to be in
default for financial statement and internal tracking purposes upon
receipt of notification by servicers that a borrower has missed two
monthly payments. Default reporting, particularly on a monthly
basis, may be affected by several factors, including the date on
which the loan servicer’s report is generated and transmitted to
Radian Guaranty, the impact of updated information submitted by
servicers and the timing of servicing transfers.
April 2020
May 2020
June 2020
Beginning Primary Default Inventory (#
of loans)
19,781
22,790
55,103
Plus: New Defaults
6,228
35,915
20,862
Less: Cures
3,045
3,424
6,119
Less: Claims Paid (1)
160
176
107
Less: Rescissions and Claim
Denials, net (2)
14
2
(3)
Ending Defaults
22,790
55,103
69,742
(1)
Includes those charged to a deductible or captive reinsurance
transactions, as well as commutations.
(2)
Net of any previous Rescissions and Claim Denials that were
reinstated during the period. Such reinstated Rescissions and Claim
Denials may ultimately result in a paid claim.
About Radian
Radian Group Inc. (NYSE: RDN) is ensuring the American dream of
homeownership responsibly and sustainably through products and
services that include industry-leading mortgage insurance and a
comprehensive suite of mortgage, risk, title, valuation, asset
management and other real estate services. We are powered by
technology, informed by data and driven to deliver new and better
ways to transact and manage risk. Visit www.radian.com to learn
more about how Radian is shaping the future of mortgage and real
estate services.
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version on businesswire.com: https://www.businesswire.com/news/home/20200710005072/en/
For Investors John Damian – Phone:
215.231.1383 Email: john.damian@radian.com
For the Media Rashi Iyer – Phone:
215.231.1167 Email: rashi.iyer@radian.com
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