EXHIBIT 11

Radian Group Inc.

Schedule of Net Income per Share

	Three Months Ended June 30				Six Months Ended June 30
(In thousands, except per-share amounts and market prices)	2006		2005		2006		2005
Net Income	$	148,145	$	140,224	$	311,843	$	255,836
Interest expense on convertible senior debentures (net of tax)		—		802		—		1,604
Net income available to common stockholders	$	148,145	$	141,026	$	311,843	$	257,440
Average diluted stock options outstanding		4,258.4		5,031.7		4,363.4		5,076.2
Average exercise price per share	$	43.18	$	46.26	$	43.15	$	36.92
Average market price per share—diluted basis	$	61.16	$	47.22	$	59.51	$	47.68
Average common shares outstanding		81,921		85,464		82,355		87,476
Increase in share due to exercise of options—diluted basis		835		854		745		913
Increase in shares-contingently convertible debt		—		3,798		—		3,798
Adjusted shares outstanding—diluted		82,756		90,116		83,100		92,187
Net income per share—basic	$	1.81	$	1.64	$	3.79	$	2.92
Net income per share—diluted	$	1.79	$	1.56	$	3.75	$	2.79