Radian Releases Delinquency Data for June and Announces Second Quarter Conference Call
-Reports second largest month of new primary flow business volume in company history-
PHILADELPHIA--(BUSINESS WIRE)-- Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released data for primary mortgage insurance delinquencies for June 2013. These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases. Previously released historical data is also available on the website at http://www.radian.biz/page?name=FinancialReportsMortgageInsurance.
The information below regarding new delinquencies and cures is reported to Radian from loan servicers. Default reporting, particularly on a monthly basis, may be affected by several factors, including the date on which the report is generated and transmitted to Radian, updated information submitted by servicers and by the timing of servicing transfers.
|Primary New Insurance Written ($ in billions)||$4.76|
|Beginning Primary Delinquent Inventory (# of loans)||79,344|
(including those charged to a deductible or captive)
|Rescissions and Denials *||89|
|Ending Primary Delinquent Inventory (# of loans)||78,257|
* Rescissions and Denials are net of actual reinstatements for the period. For additional details on reinstatement trends, refer to Slide 22 of Radian’s First Quarter 2013 Presentation Slides available in the Investors section of Radian’s website at www.radian.biz .
SECOND QUARTER CONFERENCE CALL
Radian will hold a conference call on Wednesday, July 24, 2013, at 10:00 a.m. Eastern time to discuss the company’s second quarter 2013 results, which will be announced prior to the market open on the same day. The conference call will be broadcast live over the Internet at http://www.radian.biz/page?name=Webcasts or at www.radian.biz. The call may also be accessed by dialing 800-230-1074 inside the U.S., or 612-234-9959 for international callers, using passcode 297533 or by referencing Radian.
A replay of the webcast will be available on the Radian website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two and a half hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-475-6701 inside the U.S., or 320-365-3844 for international callers, passcode 297533.
In addition to the information provided in the company's earnings news release, other statistical and financial information, which is expected to be referred to during the conference call, will be available on Radian's website under Investors >Quarterly Results, or by clicking on http://www.radian.biz/page?name=QuarterlyResults.
Radian Group Inc. (NYSE: RDN ) , headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. Additional information may be found at www.radian.biz.
Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These forward-looking statements, which may include without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These statements speak only as of the date they were made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.
Radian Group Inc.
Emily Riley, 215-231-1035
KEYWORDS: United States North America Pennsylvania