Financial Data and Key Metrics Changes - The company reported GAAP revenues of $314 million for Q3 2023, an increase from $290 million in Q2 2023 [26][33] - Net income for the quarter was $157 million, or $0.98 per diluted share, compared to $0.91 per diluted share in the previous quarter [26][85] - Annualized return on equity was 15%, with adjusted net operating return on equity at 16% [26][32] - Book value per share increased by 12% year-over-year to $26.69 [26][32] Business Line Data and Key Metrics Changes - The primary insurance in force grew by 4% year-over-year to $270 billion, generating $237 million in net premiums earned for the mortgage segment in Q3 [14][28] - New insurance written for the quarter was $13.9 billion, down from $16.9 billion in Q2 [28][34] - The persistency rate for insurance in force remained high at 84%, up from 76% a year ago [34] Market Data and Key Metrics Changes - The total mortgage originations for 2023 are projected to be approximately $1.6 trillion, with the private mortgage insurance market expected to be around $300 billion [10] - The investment income grew by 34% year-over-year to $69 million, benefiting from higher yields in a rising interest rate environment [16] Company Strategy and Development Direction - The company continues to focus on capital optimization, balancing organic growth with capital returns to stockholders [12][29] - The mortgage insurance business is expected to benefit from increasing demand, home prices, and purchase volume, maintaining a generally positive outlook [11] - The company is strategically managing capital and liquidity, with a focus on maintaining strong holding company liquidity of $1.3 billion [29][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the mortgage and real estate markets due to higher interest rates and limited inventory but noted positive credit performance in the mortgage insurance portfolio [8][9] - The company expects the persistency rate to remain strong due to a significant portion of its insurance in force having mortgage rates of 6% or less [35] - Management expressed confidence in the company's ability to navigate the current economic environment while positioning for future opportunities [11][59] Other Important Information - The company paid a $35 million dividend to stockholders, reflecting the highest yielding dividend in the industry [27] - Radian Guaranty paid a $100 million ordinary dividend to the holding company in Q3, with expectations for additional dividends in Q4 [19] Q&A Session Summary Question: What is the outlook for expense reductions? - Management reiterated guidance for full-year expenses between $380 million and $400 million, expecting to be at the top end of that range [63] Question: How is the pricing environment in the mortgage insurance market? - The pricing environment remains rational and disciplined, with normal fluctuations observed throughout the quarter [75] Question: Are lenders maintaining discipline in underwriting? - Management noted that lenders remain disciplined in underwriting, despite some market pressures [67][69]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11356 _______________________________ Radian Group Inc. (Exact name of ...

Radian Group Inc. (NYSE:RDN) Q2 2023 Earnings Call Transcript August 3, 2023 12:00 PM ET Company Participants John Damian - Senior Vice President of Corporate Development and Investor Relations Rick Thornberry - CEO and Director Sumita Pandit - CFO and Senior EVP Derek Brummer - President of Mortgage Conference Call Participants Bose George - KBW Doug Harter - Credit Suisse Mihir Bhatia - Bank of America Operator Good day, and thank you for standing by. Welcome to Radian Group's Second Quarter 2023 Earnings ...

Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11356 _______________________________ Radian Group Inc. (Exact name of ...

Radian Group Inc. (NYSE:RDN) Q1 2023 Earnings Conference Call May 4, 2023 ET Company Participants John Damian - SVP, Corporate Development and IR Rick Thornberry - CEO Rob Quigley - Controller and Chief Accounting Officer Derek Brummer - President of Radian Mortgage Conference Call Participants Bose George - KBW Mark DeVries - Barclays Douglas Harter - Credit Suisse Eric Hagen - BTIG Operator Good day, and thank you for standing by. Welcome to the First Quarter 2023 Radian Group Earnings Conference Call. At ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-11356 ____________________________ RADIAN GROUP INC. (Exact name of registrant as specified in its char ...

Financial Data and Key Metrics Changes - In Q4 2022, the company reported GAAP net income of $162 million or $1.01 per diluted share, compared to $1.07 per diluted share in the same quarter of the previous year [5] - For the full year 2022, net income was $743 million or $4.35 per diluted share, an increase from $3.16 per diluted share in 2021, resulting in an 18.2% return on equity compared to 14.1% in 2021 [5][6] - The company returned $135 million in dividends and repurchased $400 million of common stock, representing 11% of total shares outstanding [4] Business Line Data and Key Metrics Changes - Total net premiums earned in Q4 2022 were $233 million, reflecting a decline due to fewer single premium policy cancellations and lower title insurance volume [6] - The primary insurance in force grew 6% year-over-year to $261 billion as of December 31, 2022, with a 10% year-over-year growth in monthly premium in force [6][8] - Monthly and other recurring premiums accounted for 95% of new volume in both Q4 and full year 2022 [7] Market Data and Key Metrics Changes - The persistency rate increased to 84% on a quarterly annualized basis in Q4 2022, up from 72% a year ago, driven by a significant portion of the insurance in force having mortgage rates of 5% or less [8] - The investment income increased to $59 million in Q4 2022 compared to $37 million in Q4 2021, with the book yield on the investment portfolio rising to 3.5% [60] Company Strategy and Development Direction - The company remains focused on three strategic areas: enhancing the economic value of the Mortgage Insurance portfolio, growing the Homegenius business, and managing capital resources [14] - The company has increased pricing in 2022 and continues to do so in 2023, aiming to leverage dynamic risk-based pricing strategies [14] - The company is positioned to pay recurring ordinary dividends from Radian Guaranty, projected to be between $300 million and $400 million in 2023 [9][63] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the housing market, noting a strong labor market and a supply-demand imbalance that supports home price stability [28] - The company anticipates a decline in mortgage origination volumes in 2023, followed by a return to growth in 2024, driven by first-time homebuyers [50] - Management highlighted the importance of maintaining strong credit quality and underwriting standards, with new defaults expected to increase as the portfolio seasons [52] Other Important Information - The company completed a series of capital actions that resulted in a $382 million distribution from Radian Guaranty to Radian Group [4] - The company has made adjustments to its Homegenius cost structure in response to declining revenues, with a focus on operational efficiency [59] Q&A Session Summary Question: How to think about the loss provision on current period defaults going forward? - Management indicated that defaults will be concentrated in certain loan cohorts, with FICO and LTV being key variables in determining defaults [20][32] Question: How is the competitive environment viewed? - Management noted that there have been no significant market share shifts, but pricing dynamics have been increasing, with a focus on geographic pricing [24][64] Question: Can Homegenius reach breakeven in a sub $2 trillion mortgage market? - Management acknowledged the challenges but expressed optimism about positioning Homegenius for profitability despite market conditions [26][66] Question: What are the constraints around capital return? - Management highlighted the importance of regulatory requirements and PMIERs, indicating a strong capital position to support future distributions [67]

(Mark One) Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11356 _______________________________ Radian Group Inc. (Exact nam ...

Radian Group Inc. (NYSE:RDN) Q3 2022 Earnings Conference Call November 3, 2022 12:00 PM ET Company Participants John Damian - SVP of Corporate Development and IR Rick Thornberry - CEO Frank Hall - CFO Derek Brummer - President, Radian Mortgage Conference Call Participants Mark DeVries - Barclays Doug Harter - Credit Suisse Bose George - KBW Mihir Bhatia - Bank of America Eric Hagen - BTIG Operator Good day, and welcome to the Q3 2022 Radian Group Earnings Conference Call. [Operator Instructions] I would now ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11356 _______________________________ Radian Group Inc. (Exact name of ...