Exhibit 99.1

1601 Market Street Philadelphia, Pennsylvania 19103-2337 800 523.1988 215 564.6600 News Release

Contact:
For investors:	Mona Zeehandelaar – phone: 215 231.1674 email: mona.zeehandelaar@radian.biz
For the media:	Corporate Communications – phone: 888 NEWS-520 email: media@radian.biz

Radian Reports Third Quarter Net Income of $162.6 Million and Earnings Per Share of $1.88

Year-Over-Year Increase of 13.7% in Book Value Per Share

PHILADELPHIA, Pa., October 19, 2005 — Radian Group Inc. (NYSE: RDN) today reported its results for the quarter ended September 30, 2005. The key financial highlights of the quarter and nine months ended September 30, 2005 are shown in the following tables:

Key Financial Highlights (dollars in millions, except per share data)

Third Quarter:

	Quarter Ended September 30, 2005			Quarter Ended September 30, 2004			Percent Change
Net income	$	162.6		$	122.2		33.1	%
Diluted net income per share	$	1.88		$	1.27		48.0	%
Net premiums written	$	313.9		$	282.5		11.1	%
Net premiums earned	$	265.6		$	264.0		0.6	%
Revenues	$	382.6		$	329.2		16.2	%
Book value per share (as of September 30)	$	43.08		$	37.90		13.7	%
Equity in net income of affiliates	$	46.8		$	45.9		2.0	%
Persistency (12 months ended September 30)		57.1	%*		57.4	%

* Persistency for the 12 months ended September 30, 2005 includes the impact of a cancellation of a structured transaction that occurred in the second quarter of 2005 in the

amount of $3.6 billion of primary insurance in force, which reduced persistency by approximately 3 percentage points.

Nine Months:

	Nine Months Ended September 30, 2005		Nine Months Ended September 30, 2004		Percent Change
Net income	$	418.4	$	362.7	15.4	%
Diluted net income per share	$	4.65	$	3.72	25.0	%
Net premiums written	$	828.0	$	795.2	4.1	%
Net premiums earned	$	756.6	$	766.7	(1.3	)%
Revenues	$	999.5	$	984.9	1.5	%
Equity in net income of affiliates	$	161.9	$	130.6	24.0	%

“The company continues to produce solid financial results, an attractive ROE and growth in book value,” said S.A. Ibrahim, Chief Executive Officer of Radian. “We continue to steadily grow our existing business as evidenced by double digit increases in net premiums written over last year, while identifying and pursuing new and profitable opportunities,” Mr. Ibrahim added.

Radian will hold a conference call on Thursday, October 20, 2005, at 9:00 a.m. Eastern time to discuss the company’s third quarter results. This call can be accessed by dialing 800.622.9923, passcode 1295564, and will be broadcast live over the Internet at www.ir.radian.biz/phoenix.zhtml?c=112301&p=irol-audioarchives or at www.radian.biz, under “News.” A replay of the webcast will be available at this site approximately two hours after the live broadcast ends for a period of one year. In addition, a replay of the conference call will be available two hours after the call from October 20, 2005 through October 27, 2005 using the same dial-in information listed above.

Statistical and financial information which is expected to be referred to during the conference call will be available on Radian’s website under “Investor Information – Webcasts, Presentations and Transcripts” or by clicking on www.ir.radian.biz/phoenix.zhtml?c=112301&p=irol-audioarchives.

Radian Group Inc. is a leading credit enhancement provider to the global financial and capital markets, headquartered in Philadelphia. Radian’s subsidiaries provide products and services through three business lines: financial guaranty, mortgage insurance and other financial services. Additional information may be found at www.radian.biz.

Financial Results and Supplemental Information Contents

Exhibit A:	Condensed Consolidated Statements of Income
Exhibit B:	Condensed Consolidated Balance Sheets
Exhibit C:	Segment Information - Quarter Ended September 30, 2005
Exhibit D:	Segment Information - Quarter Ended September 30, 2004
Exhibit E:	Segment Information - Nine Months Ended September 30, 2005
Exhibit F:	Segment Information - Nine Months Ended September 30, 2004
Exhibit G:	Financial Guaranty Insurance Supplemental Information – Quarter and Nine Months Ended and as of September 30, 2005
Exhibit H:	Financial Guaranty Insurance Supplemental Information – Quarter and Nine Months Ended and as of September 30, 2005
Exhibit I:	Mortgage Insurance Supplemental Information: New Insurance Written, Risk Written and Captives
Exhibit J:	Mortgage Insurance Supplemental Information: Insurance in Force and Risk in Force
Exhibit K:	Mortgage Insurance Supplemental Information: Risk in Force by LTV and Policy Year
Exhibit L:	Mortgage Insurance Supplemental Information: Claims and Defaults
Exhibit M:	Mortgage Insurance Supplemental Information: ALT A
Exhibit N:	Financial Services Supplemental Information

Radian Group Inc. and Subsidiaries

Condensed Consolidated Statements of Income

Exhibit A

	Quarter Ended September 30					Nine Months Ended September 30
	2005		2004			2005		2004
(Thousands of dollars, except per-share data)
Revenues:
Net premiums written	$	313,908	$	282,530		$	827,966	$	795,227
Net premiums earned	$	265,636	$	264,048		$	756,639	$	766,717
Net investment income		53,253		51,086			154,119		151,670
Gains on sales of investments		5,194		8,993			25,443		40,956
Change in fair value of derivative instruments		53,274		(2,083	)		45,301		2,576
Other income		5,265		7,200			18,008		22,996
Total revenues		382,622		329,244			999,510		984,915
Expenses:
Provision for losses		92,441		114,125			285,768		345,452
Policy acquisition costs		27,927		35,903			88,355		89,558
Other operating expenses		58,931		47,659			163,019		153,242
Interest expense		12,167		7,996			31,103		26,014
Total expenses		191,466		205,683			568,245		614,266
Equity in net income of affiliates		46,772		45,926			161,946		130,580
Pretax income		237,928		169,487			593,211		501,229
Provision for income taxes		75,371		47,316			174,818		138,545
Net income	$	162,557	$	122,171		$	418,393	$	362,684
Diluted net income per share (1)	$	1.88	$	1.27		$	4.65	$	3.72
(1)    Net income per share reconciliation
Net income	$	162,557	$	122,171		$	418,393	$	362,684
Interest expense on convertible senior debentures (net of tax)		267		805			1,871		2,413
Net income available to common stockholders	$	162,824	$	122,976		$	420,264	$	365,097
Weighted average shares outstanding (in thousands)
Average common shares outstanding		84,567		92,384			86,507		93,416
Increase in shares-potential exercise of options-diluted basis		860		1,003			895		1,040
Increase in shares-contingently convertible debt (2)		1,266		3,810			2,954		3,810
Weighted average shares outstanding (in thousands)		86,693		97,197			90,356		98,266

(2) All periods include the impact of shares underlying convertible debt that was redeemed on August 1, 2005. The impact on diluted net income per share of including these shares in the calculation was a reduction of $0.03 per share and $0.04 per share for the quarters ended September 30, 2005 and September 30, 2004, respectively, and $0.14 and $0.12 per share for the nine months ended September 30, 2005 and September 30, 2004.

Radian Group Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

Exhibit B

	September 30 2005			December 31 2004		September 30 2004
(Thousands of dollars, except share and per-share data)
Assets:
Cash and investments	$	5,508,189		$	5,500,748	$	5,303,946
Investments in affiliates		398,054			393,025		347,404
Deferred policy acquisition costs		206,013			211,928		207,453
Prepaid federal income taxes		539,973			460,149		426,813
Other assets		446,068			434,970		414,404
Total assets	$	7,098,297		$	7,000,820	$	6,700,020
Liabilities and stockholders’ equity:
Unearned premiums	$	838,042		$	770,208	$	742,691
Reserve for losses and loss adjustment expenses		792,600			801,012		776,903
Long-term debt		747,393			717,640		717,579
Deferred federal income taxes		863,859			848,224		769,342
Other liabilities		281,388			174,681		209,901
Total liabilities		3,523,282			3,311,765		3,216,416
Common stock		97			97		96
Additional paid-in capital		634,901			1,106,191		1,096,793
Retained earnings		2,810,853			2,397,626		2,243,400
Accumulated other comprehensive income		129,164			185,141		143,315
Total common stockholders’ equity		3,575,015			3,689,055		3,483,604
Total liabilities and stockholders’ equity	$	7,098,297		$	7,000,820	$	6,700,020
Book value per share	$	43.08		$	39.98	$	37.90
Treasury Stock Repurchases (Year-to-Date for Periods Presented)
Total number of shares repurchased		10,344,500	(1)		2,817,200		2,717,200
Average price paid per share	$	49.21		$	45.38	$	45.41
Total cost of repurchased shares	$	509,094,714		$	127,831,591	$	123,380,201

(1) 2.6 million shares were repurchased in the 3rd quarter of 2005 at a cost of $135.2 million, under the new repurchase program.

Radian Group Inc. and Subsidiaries

Segment Information

Quarter Ended September 30, 2005

Exhibit C

(Thousands of dollars)	Mortgage Insurance		Financial Services			Financial Guaranty			Total
Revenues:
Net premiums written	$	235,790	$	—		$	78,118		$	313,908
Net premiums earned	$	208,902	$	—		$	56,734		$	265,636
Net investment income		30,122		62			23,069			53,253
Gains (losses) on sales of investments		4,185		(2,840	)		3,849			5,194
Change in fair value of derivative instruments		11,675		(18	)		41,617			53,274
Other income		4,353		625			287			5,265
Total revenues		259,237		(2,171	)		125,556			382,622
Expenses:
Provision for losses		81,551		—			10,890			92,441
Policy acquisition costs		14,742		—			13,185			27,927
Other operating expenses		38,295		1,953			18,683			58,931
Interest expense		6,790		1,095			4,282			12,167
Total expenses		141,378		3,048			47,040			191,466
Equity in net income of affiliates		—		47,146			(374	)		46,772
Pretax income		117,859		41,927			78,142			237,928
Provision for income taxes		36,528		14,675			24,168			75,371
Net income	$	81,331	$	27,252		$	53,974		$	162,557
Assets	$	4,152,704	$	410,915		$	2,534,678		$	7,098,297
Deferred policy acquisition costs		67,327		—			138,686			206,013
Reserve for losses and loss adjustment expenses		580,964		—			211,636			792,600
Unearned premiums		216,603		—			621,439			838,042
Stockholders' equity		1,963,433		300,000			1,311,582			3,575,015

Radian Group Inc. and Subsidiaries

Segment Information

Quarter Ended September 30, 2004

Exhibit D

(Thousands of dollars)	Mortgage Insurance			Financial Services			Financial Guaranty		Total
Revenues:
Net premiums written	$	209,085		$	—		$	73,445	$	282,530
Net premiums earned	$	205,313		$	—		$	58,735	$	264,048
Net investment income		29,391			8			21,687		51,086
Gains on sales of investments		6,359			64			2,570		8,993
Change in fair value of derivative instruments		(7,035	)		(145	)		5,097		(2,083	)
Other income		5,381			1,438			381		7,200
Total revenues		239,409			1,365			88,470		329,244
Expenses:
Provision for losses		101,000			—			13,125		114,125
Policy acquisition costs		22,538			—			13,365		35,903
Other operating expenses		31,817			2,184			13,658		47,659
Interest expense		4,694			559			2,743		7,996
Total expenses		160,049			2,743			42,891		205,683
Equity in net income of affiliates		—			43,893			2,033		45,926
Pretax income		79,360			42,515			47,612		169,487
Income tax provision		21,212			14,879			11,225		47,316
Net income	$	58,148		$	27,636		$	36,387	$	122,171
Assets	$	4,003,276		$	328,072		$	2,368,672	$	6,700,020
Deferred policy acquisition costs		72,076			—			135,377		207,453
Reserve for losses and loss adjustment expenses		533,060			—			243,843		776,903
Unearned premiums		129,873			—			612,818		742,691
Stockholders’ equity		1,958,326			284,300			1,240,978		3,483,604

Radian Group Inc. and Subsidiaries

Segment Information

Nine Months Ended September 30, 2005

Exhibit E

(Thousands of dollars)	Mortgage Insurance		Financial Services			Financial Guaranty			Total
Revenues:
Net premiums written	$	672,298	$	—		$	155,668		$	827,966
Net premiums earned	$	597,031	$	—		$	159,608		$	756,639
Net investment income		87,016		88			67,015			154,119
Gains (losses) on sales of investments		17,957		(1,963	)		9,449			25,443
Change in fair value of derivative instruments		6,941		(209	)		38,569			45,301
Other income		14,624		2,514			870			18,008
Total revenues		723,569		430			275,511			999,510
Expenses:
Provision for losses		259,703		—			26,065			285,768
Policy acquisition costs		48,626		—			39,729			88,355
Other operating expenses		107,445		7,107			48,467			163,019
Interest expense		17,541		2,708			10,854			31,103
Total expenses		433,315		9,815			125,115			568,245
Equity in net income of affiliates		—		162,307			(361	)		161,946
Pretax income		290,254		152,922			150,035			593,211
Provision for income taxes		83,350		53,523			37,945			174,818
Net income	$	206,904	$	99,399		$	112,090	(1)	$	418,393	(1)

(1) Reflects a $4.1 million net loss from the 1st quarter 2005 recapture of previously ceded business by one of the primary Financial Guaranty insurers (in millions):

	Incr/(Decr)
Net premiums earned	$	(4.6	)
Policy acquisition costs		1.7
Provision for income taxes		(2.2	)
Net loss	$	(4.1	)

Radian Group Inc. and Subsidiaries

Segment Information

Nine Months Ended September 30, 2004

Exhibit F

(Thousands of dollars)	Mortgage Insurance			Financial Services			Financial Guaranty			Total
Revenues:
Net premiums written	$	651,213		$	—		$	144,014		$	795,227
Net premiums earned	$	611,916		$	—		$	154,801		$	766,717
Net investment income		87,607			82			63,981			151,670
Gains on sales of investments		34,582			2,663			3,711			40,956
Change in fair value of derivative instruments		(3,821	)		(110	)		6,507			2,576
Other income		16,601			5,160			1,235			22,996
Total revenues		746,885			7,795			230,235			984,915
Expenses:
Provision for losses		300,162			—			45,290			345,452
Policy acquisition costs		56,757			—			32,801			89,558
Other operating expenses		106,015			10,499			36,728			153,242
Interest expense		15,106			1,869			9,039			26,014
Total expenses		478,040			12,368			123,858			614,266
Equity in net income of affiliates		—			129,180			1,400			130,580
Pretax income		268,845			124,607			107,777			501,229
Provision for income taxes		73,510			43,611			21,424			138,545
Net income	$	195,335		$	80,996		$	86,353	(1)	$	362,684	(1)

(1) Reflects a $10.3 million net loss from the 1st quarter 2004 recapture of previously ceded business by one of the primary Financial Guaranty insurers (in millions):

	Incr/(Decr)
Net premiums earned	$	(24.9	)
Policy acquisition costs		(9.8	)
Change in fair value of derivative instruments		(0.8	)
Provision for income taxes		(5.6	)
Net loss	$	(10.3	)

Radian Group Inc.

Financial Guaranty Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit G

	Quarter Ended September 30				Nine Months Ended September 30
(Thousands of dollars, except ratios)	2005		2004		2005		2004
Net Premiums Written:
Public finance direct	22,539		10,006		51,285		35,871
Public finance reinsurance	23,374		19,305		61,354		56,202
Structured direct	19,872		23,293		52,288		76,526
Structured reinsurance	3,092		6,407		16,355		23,813
Trade credit	9,241		14,434		29,128		48,019
	78,118		73,445		210,410		240,431
Impact of recapture (1)	—		—		(54,742	)	(96,417	)
Net Premiums Written	78,118		73,445		155,668		144,014
Net Premiums Earned:
Public finance direct	7,651		7,327		24,667		19,516
Public finance reinsurance	10,058		9,725		25,661		30,810
Structured direct	20,158		19,961		57,258		57,542
Structured reinsurance	4,544		7,285		15,563		24,948
Trade credit	14,323		14,437		40,998		46,877
	56,734		58,735		164,147		179,693
Impact of recapture (2)	—		—		(4,539	)	(24,892	)
Net Premiums Earned	56,734		58,735		159,608		154,801
Claims paid:
Trade credit	6,550		3,288		16,778		18,478
Financial guaranty	1,015		7,474		12,932		24,640
Conseco	7,443		8,225		23,393		23,307
Total	15,008		18,987		53,103		66,425
Impact of recapture (3)	—		—		—		11,488
Claims paid	15,008		18,987		53,103		77,913
Incurred losses:
Trade credit	7,120		6,907		14,433		23,541
Financial guaranty	3,770		6,218		11,632		21,749
Total	10,890		13,125		26,065		45,290
Loss ratio- GAAP Basis	19.2	%	22.3	%	16.3	%	29.3	%
Expense ratio- GAAP Basis	56.2	%	46.0	%	55.3	%	44.9	%
	75.4	%	68.3	%	71.6	%	74.2	%
Refundings included in earned premium	4,419		1,895		9,514		4,167

(1) Reflects the impact on net premiums written of the first quarter 2005 and 2004 recapture of previously ceded business by one of the primary Financial Guaranty insurers:

	(Thousands of dollars)
Public reinsurance	48,238	88,819
Structured reinsurance	6,504	7,596

(2) Reflects the impact on net premiums earned of the first quarter 2005 and 2004 recapture of previously ceded business by one of the primary Financial Guaranty insurers:

	(Thousands of dollars)
Public reinsurance	3,870	23,418
Structured reinsurance	669	1,476

(3) Comprised of claims payments related to the first quarter 2004 recapture of previously ceded business.

Radian Group Inc.

Financial Guaranty Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit H

(Thousands of dollars, except ratios)	September 30 2005	December 31 2004	September 30 2004
Capital and surplus	1,069,988	1,008,423	996,657
Contingency reserve	282,389	251,674	239,493
Qualified statutory capital	1,352,377	1,260,097	1,236,150
Unearned premium reserve	731,505	730,604	709,302
Loss and loss expense reserve	116,256	132,767	126,466
Total policyholders’ reserves	2,200,138	2,123,468	2,071,918
Present value of installment premiums	284,511	252,000	363,166
Reinsurance and soft capital facilities	150,000	245,000	245,000
Total claims paying resources	2,634,649	2,620,468	2,680,084
Net debt service outstanding	103,260,772	101,619,835	100,219,130
Capital leverage ratio (1)	76	81	81
Claims paying leverage ratio (2)	39	39	37
Reserve for losses and LAE
Specific	33,609	52,142	48,437
Conseco	56,950	80,343	87,693
Non-specific	121,077	108,895	107,713
Total	211,636	241,380	243,843

(1) Net debt service outstanding divided by qualified statutory capital

(2) Net debt service outstanding divided by total claims paying resources

Radian Group Inc.

Mortgage Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit I

	Quarter Ended September 30										Nine Months Ended September 30
	2005			%		2004			%		2005			%		2004			%
Primary New Insurance Written ($ millions)
Flow	$	7,066		55.7	%	$	9,123		78.1	%	$	18,856		59.6	%	$	28,392		85.7	%
Structured		5,612		44.3	%		2,563		21.9	%		12,808		40.4	%		4,726		14.3	%
Total	$	12,678		100.0	%	$	11,686		100.0	%	$	31,664		100.0	%	$	33,118		100.0	%
Prime	$	7,191		56.7	%	$	7,181		61.5	%	$	18,133		57.3	%	$	21,462		64.8	%
Alt-A		3,719		29.3	%		2,633		22.5	%		8,374		26.4	%		7,523		22.7	%
A minus and below		1,768		14.0	%		1,872		16.0	%		5,157		16.3	%		4,133		12.5	%
Total	$	12,678		100.0	%	$	11,686		100.0	%	$	31,664		100.0	%	$	33,118		100.0	%
Total Primary New Insurance Written by FICO Score ($ millions)
<=619	$	1,532		12.1	%	$	1,581		13.5	%	$	4,561		14.4	%	$	3,381		10.2	%
620-679		3,858		30.4	%		3,914		33.5	%		9,599		30.3	%		10,724		32.4	%
680-739		4,332		34.2	%		3,796		32.5	%		10,463		33.1	%		11,610		35.0	%
>=740		2,956		23.3	%		2,395		20.5	%		7,041		22.2	%		7,403		22.4	%
Total	$	12,678		100.0	%	$	11,686		100.0	%	$	31,664		100.0	%	$	33,118		100.0	%
Percentage of primary new insurance written
Monthlies		88	%				94	%				87	%				93	%
Refinances		38	%				37	%				42	%				38	%
95.01% LTV and above		9	%				11	%				10	%				11	%
ARMs		52	%				46	%				51	%				39	%
Primary risk written ($ millions)
Flow	$	1,752		67.6	%	$	2,287		73.9	%	$	4,682		67.7	%	$	7,196		83.2	%
Structured		840		32.4	%		809		26.1	%		2,232		32.3	%		1,448		16.8	%
Total	$	2,592		100.0	%	$	3,096		100.0	%	$	6,914		100.0	%	$	8,644		100.0	%
Other risk written ($ millions)
Pool	$	163				$	52				$	467				$	376
Seconds		322					70					381					132
NIMs		—					20					66					91
International		33					13					251					162
Other		150					—					661					—
Total other risk written	$	668				$	155				$	1,826				$	761
Net Premiums Written ($ thousands)
Primary and Pool Insurance	$	197,645				$	177,818				$	564,841				$	560,276
Seconds		18,370					15,130					47,701					48,311
NIMs		12,350					12,875					32,217					36,799
International		4,067					2,377					22,711					2,941
Other		3,358					885					4,828					2,886
Net Premiums Written	$	235,790				$	209,085				$	672,298				$	651,213
Net Premiums Earned ($ thousands)
Primary and Pool Insurance	$	181,748				$	169,684				$	523,392				$	511,453
Seconds		12,812					15,723					36,775					50,091
NIMs		12,906					18,521					32,431					46,610
International		583					500					2,110					876
Other		853					885					2,323					2,886
Net Premiums Earned	$	208,902				$	205,313				$	597,031				$	611,916
Captives
Premiums ceded to captives($ millions)	$	22.0				$	22.6				$	67.6				$	64.5
% of total premiums		10.8	%				11.6	%				11.4	%				11.2	%
NIW subject to captives($ millions)	$	2,701				$	3,988				$	7,998				$	13,394
% of primary NIW		21.3	%				34.1	%				25.3	%				40.4	%
IIF subject to captives		32.1	%				32.8	%
RIF subject to captives		34.0	%				34.6	%
Persistency (twelve months ended September 30)		57.1	%				57.4	%

Radian Group Inc.

Mortgage Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit J

	September 30					December 31					September 30
	2005			%		2004			%		2004			%
Primary insurance in force ($ millions)
Flow	$	82,827		75.8	%	$	89,741		77.8	%	$	90,964		78.8	%
Structured		26,457		24.2	%		25,574		22.2	%		24,516		21.2	%
Total	$	109,284		100.0	%	$	115,315		100.0	%	$	115,480		100.0	%
Prime	$	74,207		67.9	%	$	79,628		69.0	%	$	79,900		69.2	%
Alt-A		21,137		19.3	%		22,092		19.2	%		22,393		19.4	%
A minus and below		13,940		12.8	%		13,595		11.8	%		13,187		11.4	%
Total	$	109,284		100.0	%	$	115,315		100.0	%	$	115,480		100.0	%
Primary risk in force ($ millions)
Flow	$	20,283		79.1	%	$	21,991		81.4	%	$	22,234		83.0	%
Structured		5,374		20.9	%		5,021		18.6	%		4,562		17.0	%
Total	$	25,657		100.0	%	$	27,012		100.0	%	$	26,796		100.0	%
Prime	$	17,642		68.8	%	$	18,422		68.2	%	$	18,349		68.5	%
Alt-A		4,518		17.6	%		5,146		19.1	%		5,166		19.3	%
A minus and below		3,497		13.6	%		3,444		12.7	%		3,281		12.2	%
Total	$	25,657		100.0	%	$	27,012		100.0	%	$	26,796		100.0	%
Total Primary Risk in Force by FICO Score ($ millions)
<=619	$	3,278		12.8	%	$	3,296		12.2	%	$	3,169		11.8	%
620-679		8,325		32.4	%		8,850		32.8	%		8,701		32.5	%
680-739		8,524		33.2	%		9,101		33.7	%		9,135		34.1	%
>=740		5,530		21.6	%		5,765		21.3	%		5,791		21.6	%
Total	$	25,657		100.0	%	$	27,012		100.0	%	$	26,796		100.0	%
Percentage of primary risk in force
Monthlies		91	%				92	%				92	%
Refinances		37	%				37	%				37	%
95.01% LTV and above		14	%				13	%				13	%
ARMs		32	%				31	%				28	%

Radian Group Inc.

Mortgage Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit K

	September 30				December 31				September 30
	2005		%		2004		%		2004		%
Total Primary Risk in Force by LTV ($ millions)
95.01% and above	$	3,550	13.8	%	$	3,429	12.7	%	$	3,381	12.6	%
90.01% to 95.00%		8,736	34.1	%		9,822	36.4	%		9,911	37.0	%
85.01% to 90.00%		9,606	37.4	%		10,290	38.1	%		10,119	37.8	%
85.00% and below		3,765	14.7	%		3,471	12.8	%		3,385	12.6	%
Total	$	25,657	100.0	%	$	27,012	100.0	%	$	26,796	100.0	%
Total Primary Risk in Force by Policy Year ($ millions)
2001 and prior	$	2,927	11.4	%	$	4,202	15.6	%	$	4,764	17.8	%
2002		2,262	8.8	%		3,410	12.6	%		3,977	14.8	%
2003		6,224	24.3	%		9,046	33.5	%		10,094	37.7	%
2004		7,808	30.4	%		10,354	38.3	%		7,961	29.7	%
2005		6,436	25.1	%		—	—			—	—
Total	$	25,657	100.0	%	$	27,012	100.0	%	$	26,796	100.0	%
Other risk in force ($ millions)
Pool	$	2,639			$	2,384			$	2,363
Seconds		971				673				693
NIMs		283				312				365
International		436				214				186
Other		508				6				8
Total other risk in force	$	4,837			$	3,589			$	3,615
Risk to capital ratio-STAT Basis		9.8:1				10.0:1				10.1:1

Radian Group Inc.

Mortgage Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit L

	Quarter Ended September 30						Nine Months Ended September 30
	2005			2004			2005			2004
Direct claims paid ($ thousands)
Prime	$	24,369		$	36,036		$	88,141		$	105,683
Alt-A		17,498			21,123			59,403			64,025
A Minus and below		21,310			25,223			62,218			71,666
Seconds		7,883			9,836			26,655			33,134
Total	$	71,060		$	92,218		$	236,417		$	274,508
Average claim paid ($ thousands)
Prime	$	23.6		$	22.5		$	23.6		$	23.8
Alt-A		36.5			36.5			35.9			39.0
A Minus and below		27.6			26.3			26.5			26.8
Seconds		22.0			25.7			22.5			27.3
Total	$	26.9		$	26.2		$	26.5		$	27.5
Loss ratio -GAAP Basis		39.0	%		49.2	%		43.5	%		49.1	%
Expense ratio - GAAP Basis		25.4	%		26.5	%		26.1	%		26.6	%
		64.4	%		75.7	%		69.6	%		75.7	%

	September 30 2005		December 31 2004		September 30 2004
Default Statistics
Primary insurance:
Prime
Number of insured loans	571,496		610,480		616,468
Number of loans in default	17,629		19,434		19,199
Percentage of loans in default	3.08	%	3.18	%	3.11	%
Alt A
Number of insured loans	121,115		128,010		130,860
Number of loans in default	7,571		8,339		8,213
Percentage of loans in default	6.25	%	6.51	%	6.28	%
A Minus and below
Number of insured loans	104,920		104,672		102,599
Number of loans in default	14,831		12,678		12,078
Percentage of loans in default	14.14	%	12.11	%	11.77	%
Total
Number of insured loans	797,531		843,162		849,927
Number of loans in default	40,031		40,451		39,490
Percentage of loans in default	5.02	%	4.80	%	4.65	%
Pool insurance:
Number of insured loans	685,648		583,568		580,533
Number of loans in default	7,683		6,749		6,489
Percentage of loans in default	1.12	%	1.16	%	1.12	%

Radian Group Inc.

Mortgage Insurance Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

ALT-A

Exhibit M

($ millions)	Quarter Ended September 30								Nine Months Ended September 30
	2005		%		2004		%		2005		%		2004		%
Primary New Insurance Written by FICO Score
<=619	$	24	0.7	%	$	36	1.4	%	$	31	0.4	%	$	81	1.1	%
620-659		596	16.0	%		482	18.3	%		1,463	17.5	%		1,255	16.7	%
660-679		488	13.1	%		477	18.1	%		1,106	13.2	%		1,356	18.0	%
680-739		1,632	43.9	%		1,147	43.6	%		3,688	44.0	%		3,404	45.2	%
>=740		979	26.3	%		491	18.6	%		2,086	24.9	%		1,427	19.0	%
Total	$	3,719	100.0	%	$	2,633	100.0	%	$	8,374	100.0	%	$	7,523	100.0	%
Primary Risk in Force by FICO Score
<=619	$	50	1.1	%	$	80	1.5	%
620-659		974	21.6	%		1,117	21.6	%
660-679		783	17.3	%		903	17.5	%
680-739		1,898	42.0	%		2,175	42.1	%
>=740		813	18.0	%		891	17.3	%
Total	$	4,518	100.0	%	$	5,166	100.0	%
Primary Risk in Force by LTV
95.01% and above	$	228	5.0	%	$	415	8.0	%
90.01% to 95.00%		1,462	32.4	%		1,842	35.7	%
85.01% to 90.00%		1,958	43.3	%		2,154	41.7	%
85.00% and below		870	19.3	%		755	14.6	%
Total	$	4,518	100.0	%	$	5,166	100.0	%
Primary Risk in Force by Policy Year
2001 and prior	$	217	4.8	%	$	443	8.6	%
2002		391	8.7	%		799	15.5	%
2003		1,034	22.9	%		2,067	39.9	%
2004		1,619	35.8	%		1,857	36.0	%
2005		1,257	27.8	%		—	—
Total	$	4,518	100.0	%	$	5,166	100.0	%

Radian Group Inc.

Financial Services Supplemental Information

For the Quarter and Nine Months Ended and as of September 30, 2005

Exhibit N

($ thousands )	Quarter Ended September 30						Nine Months Ended September 30
	2005			2004			2005			2004
Investment in Affiliates-Selected Information
C-BASS
Balance, beginning of period	$	332,367		$	248,759		$	290,073		$	226,710
Net income for period		20,727			18,095			80,271			72,644
Dividends received		9,750			—			27,000			32,500
Balance, end of period	$	343,344		$	266,854		$	343,344		$	266,854
Sherman
Balance, beginning of period	$	103,831		$	48,709		$	101,492		$	65,979
Net income for period		26,418			25,798			82,036			56,536
Dividends received		58,786			—			110,661			49,800
Other comprehensive income		797			(914	)		1,468			878
Sale of ownership interest		(18,947	)		—			(18,947	)		—
Warrant repurchase		—			—			(2,075	)		—
Balance, end of period	$	53,313		$	73,593		$	53,313		$	73,593
Portfolio Information:
C-BASS
Servicing portfolio	$	36,500,000		$	22,270,000
Total assets		3,765,804			4,466,115
Servicing income		62,210			38,931		$	185,423		$	112,958
Net interest income		51,280			37,025			136,838			109,207
Total revenues		134,539			105,115			456,076			354,174
Sherman
Total assets	$	868,957		$	444,368
Net revenues	$	213,799		$	129,661		$	572,351		$	353,314

All statements made in this press release that address events or developments that we expect or anticipate may occur in the future are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the U.S. Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s current views and assumptions with respect to future events. The forward-looking statements, as well as Radian’s prospects as a whole, are subject to risks and uncertainties, including the following: changes in general financial and political conditions such as extended national or regional economic recessions (or expansions), changes in housing values, population trends and changes in household formation patterns, changes in unemployment rates, changes or volatility in interest rates, or other political instability; changes in investor perception of the strength of private mortgage insurers or financial guaranty providers, and risks faced by the businesses, municipalities or pools of assets covered by Radian’s insurance; the loss of a customer with whom Radian has a concentration of its insurance in force; rising delinquencies in mortgage loans insured by Radian resulting from increased consolidation of mortgage lenders and servicers; increased severity or frequency of losses associated with certain Radian products that are riskier than traditional mortgage insurance and municipal guaranty insurance policies; material changes in persistency rates of Radian’s mortgage insurance policies; downgrades of the insurance financial-strength ratings assigned by the major ratings agencies to Radian’s operating subsidiaries; heightened competition from other insurance providers and from alternative products to private mortgage insurance and financial guaranty insurance; changes in the business practices of Fannie Mae and Freddie Mac; the application of existing federal or state consumer lending, insurance and other applicable laws and regulations, or unfavorable changes in these laws and regulations or the way they are interpreted or applied, including: (i) the possibility of private lawsuits or investigations by state insurance departments and state attorneys general alleging that services offered by the mortgage insurance industry, such as captive reinsurance, pool insurance and contract underwriting, are violative of the Real Estate Settlement Procedures Act and/or similar state regulations (particularly in light of public reports that some state insurance departments may review or investigate captive reinsurance arrangements used in the mortgage insurance industry), (ii) the outcome of private lawsuits that have been brought against us and other mortgage insurers under the Fair Credit Reporting Act or (iii) legislative and regulatory changes affecting demand for private mortgage insurance or financial guaranty insurance; the possibility that we may fail to estimate accurately the likelihood, magnitude and timing of losses in connection with establishing loss reserves for our mortgage insurance or financial guaranty businesses or to estimate accurately the fair value amounts of derivative financial guaranty contracts in determining gains and losses on these contracts; changes in accounting guidance from the SEC or the Financial Accounting Standards Board regarding income recognition and the treatment of loss reserves in the mortgage insurance or financial guaranty industries; changes in claims against mortgage insurance products resulting from the aging of Radian’s mortgage insurance policies; vulnerability to the performance of Radian’s strategic investments; international expansion of our mortgage insurance and financial guaranty businesses into new markets and risks associated with our international business activities; and the loss of executive officers or other key personnel. Investors are also directed to other risks discussed in documents filed by Radian with the SEC, including the factors detailed in our annual report on Form 10-K for the year ended December 31, 2004 in the section immediately preceding Part I of the report. We caution you not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Radian does not intend to and disclaims any duty or obligation to update or revise any forward-looking statements made in this press release to reflect new information, future events or for any other reason.

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