EXHIBIT 12

Radian Group Inc.

Ratio of Earnings to Fixed Charges and to Combined Fixed Charges and Preferred Stock Dividends

	2007			2006			2005			2004			2003
Net (loss) earnings	($	1,290,299	)	$	582,172		$	522,854		$	518,653		$	385,901
Federal and state income taxes		(778,616	)		231,097			217,485			206,939			145,578
(Loss) Earnings before income taxes		(2,068,915	)		813,269			740,339			725,592			531,479
Equity in net (loss) income of affiliates		416,541			(256,993	)		(217,692	)		(180,550	)		(105,476	)
Distributed income from equity investees		51,512			150,609			144,161			82,300			27,450
Net (loss) earnings		(1,600,862	)		706,885			666,808			627,342			453,453
Fixed charges:
Interest		53,068			48,149			43,043			34,660			37,542
One-third of all rentals (2)		2,746			3,255			2,852			2,669			3,162
Fixed charges		55,814			51,404			45,895			37,329			40,704
Preferred dividends		0			0			0			0			0
Fixed charges and preferred dividends		55,814			51,404			45,895			37,329			40,704
Net (loss) earnings and fixed charges	($	1,545,048	)	$	758,289		$	712,703		$	664,671		$	494,157
Net (loss) earnings, fixed charges and preferred dividends	($	1,545,048	)	$	758,289		$	712,703		$	664,671		$	494,157
Ratio of net (loss) earnings and fixed charges to fixed charges		(1	)		14.8x			15.5x			17.8x			12.1x
Ratio of net (loss) earnings, fixed charges and preferred stock dividends to fixed charges and preferred stock dividends		(1	)		14.8x			15.5x			17.8x			12.1x

(1) In 2007, earnings were not adequate to cover fixed charges in the amount of $1,545,048.

(2) The amount of interest included in the calculation represents a reasonable approximation of the interest factor.