Radian Releases Monthly Operating Statistics for August 2020
09 Septembre 2020 - 10:30PM
Business Wire
Radian Guaranty Inc., the mortgage insurance subsidiary of
Radian Group Inc., today released monthly operating statistics
related to the credit performance of its insured portfolio for the
month of August 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. The
company considers 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.
August
2020
July
2020
Beginning Primary Default Inventory (# of
loans)
67,433
69,742
New Defaults
6,173
8,477
Cures
(8,670)
(10,678)
Claims Paid (1)
(63)
(92)
Rescissions and Claim Denials, net (2)
15
(16)
Ending Primary Default Inventory (# of
loans)
64,888
67,433
(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/20200909005872/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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