EXHIBIT 11

Radian Group Inc.

Schedule of Net Income per Share

	Three Months Ended March 31
(In thousands, except per-share amounts and market prices)	2007		2006
Net income	$	113,467	$	163,698
Average diluted stock options outstanding		3,208.7		4,468.3
Average exercise price per share	$	45.37	$	43.12
Average market price per share—diluted basis	$	57.88	$	57.84
Average common shares outstanding		79,428		82,937
Increase in shares due to exercise of options—diluted basis		652		770
Adjusted shares outstanding—diluted		80,080		83,707
Net income per share—basic	$	1.43	$	1.97
Net income per share—diluted	$	1.42	$	1.96