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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Radian Group Inc | NYSE:RDN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.06 | -0.16% | 37.10 | 37.86 | 36.92 | 37.25 | 1,038,433 | 21:40:06 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant as Specified in its Charter)
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
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(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)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading |
Name of each exchange | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Events. |
On July 31, 2024, Radian Group Inc. (“Radian Group”) issued a news release announcing that its indirect wholly owned subsidiary, Radian Mortgage Capital LLC (“RMC”), completed its inaugural private label prime jumbo securitization transaction, Radian Mortgage Capital 2024-J1. The securitization involved the private offering and issuance of $348.9 million of unregistered mortgage pass-through certificates (the “Certificates”) collateralized by residential mortgage loans. At closing, RMC retained an interest in certain of the Certificates, and RMC and its affiliates (excluding its mortgage insurance affiliates) may hold an interest in the Certificates from time to time.
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
99.1 | Radian Group Inc. News Release dated July 31, 2024 | |
Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
RADIAN GROUP INC. | ||||||
(Registrant) | ||||||
Date: July 31, 2024 | ||||||
By: | /s/ Sumita Pandit | |||||
Sumita Pandit | ||||||
Chief Financial Officer |
Exhibit 99.1
![]() |
Radian Mortgage Capital
Closes its Inaugural Secondary Market Securitization
Mortgage Conduit Securitizes $348.9 million of Residential Real Estate Loans
WAYNE, Pa., July 31, 2024 Radian Group Inc. (NYSE: RDN) today announced that its mortgage conduit, Radian Mortgage Capital LLC (RMC), has closed its inaugural prime jumbo securitization, Radian Mortgage Capital 2024-J1.
Radian Mortgage Capital 2024-J1 is a $348.9 million securitization of residential real estate loans supported by 359 30-year, fixed-rate mortgage fully amortizing loans. The mortgage pass-through certificates were offered for sale to eligible third-party capital markets investors in an unregistered private offering. At closing, RMC retained an interest in the unregistered certificates.
RMC was formed to provide residential mortgage lenders with an additional secondary-market option for high-quality loans and to provide mortgage investors with a trusted, high-quality sponsor. Consistent with Radians stated strategy, RMC expands the companys capabilities to participate in the mortgage market to aggregate, manage and distribute residential mortgage credit risk.
We are pleased to close this inaugural transaction, which leverages Radians mortgage market and credit risk management expertise to fill a need for additional secondary market options from trusted, high-quality sponsors, said Chief Executive Officer Rick Thornberry. Radians successful model for aggregating, managing and distributing residential mortgage credit risk creates the opportunity for us to expand the value were able offer lenders and investors through Radian Mortgage Capital as a full-service correspondent lender.
About Radian
Radian 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, real estate, securitization, and title services. Powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk, Radian is shaping the future of mortgage and real estate services. Learn more at radian.com.
Document and Entity Information |
Jul. 31, 2024 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | RADIAN GROUP INC |
Amendment Flag | false |
Entity Central Index Key | 0000890926 |
Document Type | 8-K |
Document Period End Date | Jul. 31, 2024 |
Entity Incorporation State Country Code | DE |
Entity File Number | 1-11356 |
Entity Tax Identification Number | 23-2691170 |
Entity Address, Address Line One | 550 East Swedesford Road |
Entity Address, Address Line Two | Suite 350 |
Entity Address, City or Town | Wayne |
Entity Address, State or Province | PA |
Entity Address, Postal Zip Code | 19087 |
City Area Code | (215) |
Local Phone Number | 231-1000 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, $0.001 par value per share |
Trading Symbol | RDN |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
1 Year Radian Chart |
1 Month Radian Chart |
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