Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2024

Radian Group Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware

1-11356

23-2691170

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

550 East Swedesford Road, Suite 350

Wayne, Pennsylvania, 19087

(Address of Principal Executive Offices, and Zip Code)

(215) 231-1000

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value per share	RDN	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

On July 31, 2024, Radian Group Inc. (“Radian Group”) issued a news release announcing that its indirect wholly owned subsidiary, Radian Mortgage Capital LLC (“RMC”), completed its inaugural private label prime jumbo securitization transaction, Radian Mortgage Capital 2024-J1. The securitization involved the private offering and issuance of $348.9 million of unregistered mortgage pass-through certificates (the “Certificates”) collateralized by residential mortgage loans. At closing, RMC retained an interest in certain of the Certificates, and RMC and its affiliates (excluding its mortgage insurance affiliates) may hold an interest in the Certificates from time to time.

A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.


99.1		Radian Group Inc. News Release dated July 31, 2024

Exhibit 104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	RADIAN GROUP INC.
	(Registrant)

Date: July 31, 2024

	By:	/s/ Sumita Pandit
		Sumita Pandit
		Chief Financial Officer

Exhibit 99.1

Radian Mortgage Capital

Closes its Inaugural Secondary Market Securitization

Mortgage Conduit Securitizes $348.9 million of Residential Real Estate Loans

WAYNE, Pa., July 31, 2024 — Radian Group Inc. (NYSE: RDN) today announced that its mortgage conduit, Radian Mortgage Capital LLC (RMC), has closed its inaugural prime jumbo securitization, Radian Mortgage Capital 2024-J1.

Radian Mortgage Capital 2024-J1 is a $348.9 million securitization of residential real estate loans supported by 359 30-year, fixed-rate mortgage fully amortizing loans. The mortgage pass-through certificates were offered for sale to eligible third-party capital markets investors in an unregistered private offering. At closing, RMC retained an interest in the unregistered certificates.

RMC was formed to provide residential mortgage lenders with an additional secondary-market option for high-quality loans and to provide mortgage investors with a trusted, high-quality sponsor. Consistent with Radian’s stated strategy, RMC expands the company’s capabilities to participate in the mortgage market to aggregate, manage and distribute residential mortgage credit risk.

“We are pleased to close this inaugural transaction, which leverages Radian’s mortgage market and credit risk management expertise to fill a need for additional secondary market options from trusted, high-quality sponsors,” said Chief Executive Officer Rick Thornberry. “Radian’s successful model for aggregating, managing and distributing residential mortgage credit risk creates the opportunity for us to expand the value we’re able offer lenders and investors through Radian Mortgage Capital as a full-service correspondent lender.”

About Radian

Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate, securitization, and title services. Powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk, Radian is shaping the future of mortgage and real estate services. Learn more at radian.com.

Document and Entity Information	Jul. 31, 2024
Cover [Abstract]
Entity Registrant Name	RADIAN GROUP INC
Amendment Flag	false
Entity Central Index Key	0000890926
Document Type	8-K
Document Period End Date	Jul. 31, 2024
Entity Incorporation State Country Code	DE
Entity File Number	1-11356
Entity Tax Identification Number	23-2691170
Entity Address, Address Line One	550 East Swedesford Road
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Wayne
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19087
City Area Code	(215)
Local Phone Number	231-1000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, $0.001 par value per share
Trading Symbol	RDN
Security Exchange Name	NYSE
Entity Emerging Growth Company	false