EXHIBIT 11

Radian Group Inc.

Schedule of Net (Loss) Income per Share

	Three Months Ended September 30					Nine Months Ended September 30
(In thousands, except per-share amounts and market prices)	2007			2006		2007			2006
Net (loss) income	$	(703,864	)	$	111,959	$	(569,314	)	$	423,802
Average diluted stock options outstanding		—			4,013.3		—			4,246.7
Average exercise price per share		—		$	43.61		—		$	43.30
Average market price per share—diluted basis		—		$	61.13		—		$	60.05
Average common shares outstanding		79,800			81,233		79,467			81,995
Increase in share due to exercise of options—diluted basis(1)		—			817		—			754
Adjusted shares outstanding—diluted		79,800			82,050		79,467			82,749
Net (loss) income per share—basic	$	(8.82	)	$	1.38	$	(7.16	)	$	5.17
Net (loss) income per share—diluted	$	(8.82	)	$	1.36	$	(7.16	)	$	5.12

(1) As a result of our net loss for the three and nine month periods ended September 30, 2007, 5,708,529 shares of common stock issued under our stock-based compensation plans were not included in the calculation of diluted earnings per share because they were anti-dilutive.