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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported) May 7, 2012
Radian Group Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware |
1-11356 |
23-2691170 |
(State or Other Jurisdiction |
(Commission |
(IRS Employer |
1601 Market Street, Philadelphia, Pennsylvania |
19103 |
(Address of Principal Executive Offices) |
(Zip Code) |
(215) 231 - 1000
(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))
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Item 2.02. Results of Operations and Financial Condition.
On May 7, 2012, Radian Group Inc. issued a news release announcing, among other things, that the product mix of Radian Guaranty’s new insurance written has shifted recently to an increased level of monthly premium business. Of the $9.0 billion in new insurance written for the first four months of 2012, 65 percent was written with monthly premiums and 35 percent with single premiums. This compares to the fourth quarter of 2011, where 57 percent was written with monthly premiums and 43 percent with single premiums.
A copy of this news release is furnished as Exhibit 99.1 to this report.
The information included in, or furnished with, this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1* Radian Group Inc. News Release dated May 7, 2012.
_____________________
* Furnished herewith.
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: | May 9, 2012 | By: |
/s/ C. Robert Quint |
C. Robert Quint |
|||
Chief Financial Officer |
EXHIBIT INDEX
Exhibit |
Description |
|
99.1* |
Radian Group Inc. News Release dated May 7, 2012. |
* Furnished herewith.
Exhibit 99.1
Radian Releases Delinquency Data for April
PHILADELPHIA--(BUSINESS WIRE)--May 7, 2012--Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., today released data for primary mortgage insurance delinquencies for April 2012. These details may also be found on Radian’s website at http://www.radian.biz/page?name=NewsReleases.
The information below regarding new delinquencies and cures is reported to Radian from loan servicers. The accuracy of these reports may be affected by several factors, including the date on which the report is generated and by the timing of servicing transfers.
April 2012 | ||||||
Primary New Insurance Written (NIW) ($ in billions) | $2.55 | |||||
Beginning Primary Delinquent Inventory
(# of loans) |
103,027 |
|||||
Plus: New Delinquencies | 5,807 | |||||
Less: Cures | (4,692) | |||||
Less: Paids
(including those charged to a deductible or captive) |
(1,683) |
|||||
Less: Rescissions and Denials | (893) | |||||
Ending Primary Delinquent Inventory (# of loans) |
101,566 |
|||||
The product mix of Radian’s NIW has shifted recently to an increased level of monthly premium business. Of the $9.0 billion in new business written in the first four months of 2012, 65 percent was written with monthly premiums and 35 percent with single premiums. This compares to the fourth quarter of 2011, where 57 percent was written with monthly premiums and 43 percent with single premiums.
About Radian
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.
Forward-Looking Statements
Some of the statements in this press release may constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, 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. 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, 2011 and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.
CONTACT:
Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz