Radian expands secondary market reach with new Radian Mortgage Capital

“We view RMC’s services as a natural extension of our products, further deepening our relationships across the mortgage ecosystem with mortgage lenders and investors,” said Radian CEO Rick Thornberry. “As a market leader recognized for delivering innovative mortgage products and solutions, Radian’s strong liquidity and capital base, deep market relationships, and credit risk management expertise combined with an experienced RMC team provide us with the strategic flexibility to broaden our market reach through RMC.”

“Our mortgage insurance customers have communicated a growing need for additional secondary market options, and we are pleased to be able to expand the products we deliver to lenders through RMC,” said Derek Brummer, president of mortgage business at Radian. “We believe Radian’s strong track record for pricing and managing mortgage credit risk and leveraging decades of robust residential mortgage performance data through multiple cycles, together with our extensive proprietary analytics platforms, positions us to expand our position as a trusted and valued partner across the mortgage market.”

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The Philadelphia-based company enjoyed a profit leap in the first quarter, with its earnings climbing to $181.1 million from $125.6 million in the same period a year ago.

“Overall, the business continues to perform well,” Thornberry said in a previous interview with MPA. “We believe that macroeconomic conditions and a strong home purchase market provide significant tailwinds for long-term growth and the economic value of projected future earnings of our mortgage insurance portfolio. We are pleased with how the credit performance of our portfolio continues to improve as we emerge from the pandemic environment.”