EXHIBIT 12

Radian Group Inc.

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

	2010			2009			2008			2007			2006
Net (loss) earnings	$	(1,805,867	)	$	(147,879	)	$	(410,579	)	$	(1,290,299	)	$	582,172
Federal and state income tax provision (benefit)		226,189			(94,401	)		(263,550	)		(778,616	)		231,097
(Loss) earnings before income taxes		(1,579,678	)		(242,280	)		(674,129	)		(2,068,915	)		813,269
Equity in net (income) loss of affiliates		(14,668	)		(33,226	)		(59,797	)		416,541			(256,993	)
Distributed income from equity investees		29,498			11,040			35,460			51,512			150,609
Net (loss) earnings		(1,564,848	)		(264,466	)		(698,466	)		(1,600,862	)		706,885
Fixed charges:
Interest		41,777			46,010			53,514			53,068			48,149
One-Third of all rentals (2)		1,621			2,496			2,529			2,746			3,255
Fixed charges		43,398			48,506			56,043			55,814			51,404
Preferred dividends		0			0			0			0			0
Fixed charges and preferred dividends		43,398			48,506			56,043			55,814			51,404
Net (loss) earnings and fixed charges	$	(1,521,450	)	$	(215,960	)	$	(642,423	)	$	(1,545,048	)	$	758,289
Net (loss) earnings, fixed charges and preferred dividends	$	(1,521,450	)	$	(215,960	)	$	(642,423	)	$	(1,545,048	)	$	758,289
Ratio of net (loss) earnings and fixed charges to fixed charges		(1	)		(1	)		(1	)		(1	)		14.8x
Ratio of net (loss) earnings, fixed charges and preferred stock dividends to fixed charges and preferred stock dividends		(1	)		(1	)		(1	)		(1	)		14.8x

(1) For the periods ended December 31, 2010, 2009, 2008 and 2007, earnings were not adequate to cover fixed charges in the amount of $1,521,450, $215,960, $642,423 and $1,545,048, respectively.

(2) Interest on tax accruals that are non-third party indebtedness are excluded from the calculation.