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Radian Group Inc  (NYSE: RDN)
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Radian Group Inc's

Competitiveness


 

RDN Sales vs. its Competitors Q3 2024



Comparing the current results to its competitors, Radian Group Inc reported Revenue increase in the 3 quarter 2024 by 6.48 % year on year, while most of its competitors have experienced contraction in revenues by -23.24 %, achieved in the same quarter.

List of RDN Competitors

With a net margin of 45.5 % Radian Group Inc achieved higher profitability than its competitors.

More on RDN Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Radian Group Inc Net Income in the 3 quarter 2024 fell year on year by -3%, while most of its competitors have experienced a contraction in net income by -46.85 %.

<<  RDN Stock Performance Comparisons


Radian Group Inc's Comment on Competition and Industry Peers


We operate in the highly competitive U.S. mortgage insurance industry. Our competitors include other private mortgage insurers and federal and state governmental and quasi-governmental agencies, principally the FHA and VA.

We compete directly with the following six private mortgage insurers:

Arch U.S. MI (acquired CMG Mortgage Company effective January 30, 2014);

Essent Guaranty Inc.;

Genworth Financial Inc.;

Mortgage Guaranty Insurance Corporation;

NMI Holdings, Inc.; and

United Guaranty Corporation.

We compete with other private mortgage insurers primarily on the basis of price, underwriting guidelines, customer relationships, reputation, perceived financial strength (including based on credit ratings) and overall service. Service-based competition includes effective and timely delivery of products, timeliness of claims payments, customer service, timely and accurate servicing of policies, training, loss mitigation efforts and management and field service expertise. Pricing has always been competitive in the mortgage insurance industry. However, the presence of newer entrants in the industry has increased price competition as these companies seek to gain a greater presence in the market and more established industry participants seek to defend their market share and customer relationships. As a result, recent pricing trends have included: (i) the increased use of a spectrum of filed rates to allow for formulaic, risk-based pricing (commonly referred to as “black-box” pricing); (ii) a significant increase in the broad use of customized (often discounted) rates on lender-paid, Single Premium policies, and more recently, on borrower-paid, monthly premium policies; and (iii) overall reductions in standard filed rates on borrower-paid policies. The willingness of mortgage insurers to offer reduced pricing (through filed or customized rates) has been met with an increased demand from certain large lenders for reduced rate products. This has further intensified the pricing environment and has resulted in new pricing levels (whether through filed or customized rates) that private mortgage insurers are expected to meet in order to avoid risking a potential significant loss in NIW.


The heightened pricing competition has occurred in the context of generally higher capital requirements being applied to private mortgage insurers as a result of the PMIERs and more aggressive pricing by the FHA (which is most impactful with respect to high-LTV loans for borrowers with FICO scores below 720). This has produced a marketplace where balancing both targeted returns on new business and an acceptable share of the insured market has become increasingly challenging for all participants. In formulating our strategy in this environment, we have taken a disciplined approach to establishing rates and delivering a mix of business that is expected to produce our targeted level of returns on a blended basis and an acceptable level of NIW. In furtherance of this strategy, we recently: (1) increased our filed rates for lender-paid mortgage insurance; (2) continued to use the authority set forth in our rate filings to provide customized premiums for lender-paid, Single Premium mortgage insurance on a selective and negotiated basis while, importantly, declining to participate in significantly discounted, Single Premium business that has been offered for bid on an aggregated basis (which we estimate represented approximately 5% of the total private mortgage insurance market in 2015); and (3) determined to change our borrower-paid, filed rates in order to remain competitive, which generally will have the effect of decreasing our standard rates on higher FICO business and raising our rates on lower FICO business where the FHA is already very competitive.


We believe our Services business is uniquely positioned as a single provider of an array of outsourced services and solutions to participants in the mortgage value chain and that this position differentiates us from our competitors. We are not aware of any other company that provides a comparable range of services to the residential mortgage and real estate industries. However, our Services business has multiple competitors within each of its individual lines of business. Our competitors mainly include small privately-held companies and subsidiaries of large publicly-traded companies.
Significant competitors within each of our business lines include:

Loan Review and Due Diligence – American Mortgage Consultants, Inc. and JCIII & Associates (consolidated in a business combination as American Mortgage Consultants, Inc., effective December 2015), Digital Risk, LLC, LenderLive Network, Inc., Opus Capital Markets Consultants, LLC and Stewart Lender Services, Inc.

Surveillance – CoreLogic, Inc., Digital Risk, LLC, FTI Consulting, Inc., Pentalpha Surveillance LLC and Promontory Financial Group, LLC

Valuation and Component Services – Carrington Property Services, LLC, ClearCapital.com, Inc., CoreLogic, Inc., Pro Teck Valuation Services, First American, Collateral Analytics and Black Knight Financial Services

REO Management – Altisource Portfolio Solutions S.A., Solutionstar Holdings LLC, Stewart Lender Services, Inc. and VRM Mortgage Services

EuroRisk – Deloitte LLP, PricewaterhouseCoopers LLP, Ernst & Young LLP, KPMG LLP, Situs Group, LLC, Euristix Ltd, Rockstead Ltd and Grant Thornton
Across all business lines, we compete on the basis of industry expertise, price, technology, service levels and relationships.





  

Overall company Market Share Q3 2024

With revenue growth of 6.48 % within Overall company, Radian Group Inc achieved improvement in market share, within Overall company to approximately 2.18 %.
<<  More on RDN Market Share.
 
*Market share is calculated based on total revenue.

  News about Radian Group Inc Contracts

Radian Group Inc. Enhances Market Leadership with Inaugural Securitization and Advanced Real Estate Solutions...

August 1, 2024
WAYNE, Pa. Radian Group Inc. (NYSE: RDN), a prominent player in the real estate and mortgage industry, has recently marked significant milestones through strategic initiatives that bolster its market footprint. The company has demonstrated its prowess in mortgage securitization, while simultaneously expanding its technological reach within the real estate investment community.In a groundbreaking move, Radian s mortgage conduit, Radian Mortgage Capital LLC (RMC), successfully closed its premier prime jumbo securitization. The securitization, dubbed Radian Mortgage Capital 2024-J1, encapsulates a robust $348.9 million portfolio of residential real estate loans. This portfolio is supported by 359 fully amorti...

SOLD.com and Radian Partner to Offer Streamlined Title Insurance and Closing Platform

March 5, 2024
Wayne, PA - SOLD.com, a prominent online real estate marketplace and educational resource provider, has recently joined forces with...

Radian's Strategic Investment in FinLocker Paves the Way for Personalized Financial Empowerment and Homeownership

January 11, 2024
Radian Group Inc. (NYSE: RDN) has taken a significant step forward in its commitment to empowering homeownership and revolutionizing the way consumers navigate their financial journey. The company recently announced its strategic investment in FinLocker, an innovative personal financial fitness and homeownership tool. By harnessing advanced technology, FinLocker efficiently consolidates and analyzes consumers financial data, presenting tailored paths to mortgage eligibility and other financial transactions.With the precise terms of the investment remaining undisclosed, Radian Group Inc. s partnership with FinLocker perfectly aligns with the company s mission of making homeownership dreams come true. The col...





Publicly Traded Peers of Radian Group Inc




Arch Capital Group Ltd
Share Performance



+4.52%
This Year



Arch Capital Group Ltd
Profile

Arch Capital Group Ltd operates as a global insurance and reinsurance company, providing risk management solutions to clients worldwide. Their business model involves underwriting various lines of insurance and reinsurance policies, generating revenue through premiums received, and managing risk through diversification and prudent investment strategies.

More about Arch Capital Group Ltd 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 36,513.473 mill. $ 16,867.000 mill. $ 5,710.000 mill.


Enact Holdings Inc
Share Performance



-0.21%
30 Days



Enact Holdings Inc
Profile

Enact Holdings Inc operates as a private mortgage insurance company. It provides mortgage insurance products and services to lenders, helping them mitigate risk associated with low down payment residential mortgages.

More about Enact Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,107.730 mill. $ 1,196.188 mill. $ 682.638 mill.


Nmi Holdings Inc
Share Performance



+27.35%
One Year



Nmi Holdings Inc
Profile

Nmi Holdings Inc operates as a private mortgage insurance company. They provide mortgage insurance products and related services to lenders and government sponsored entities, helping to protect them from credit losses on low down payment residential mortgage loans. Their business model primarily revolves around underwriting mortgage insurance and collecting premiums from lenders in exchange for assuming credit risk.

More about Nmi Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,057.017 mill. $ 635.847 mill. $ 357.352 mill.


Arlington Asset Investment Corp
Share Performance



+4.54%
Over The Past 5 Days



Arlington Asset Investment Corp
Profile

Arlington Asset Investment Corp's business model is focused on investing in and managing a portfolio of mortgage-backed securities and other related assets.

More about Arlington Asset Investment Corp 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 135.912 mill. $ 22.022 mill. $ 0.426 mill.


Federal Agricultural Mortgage Corporation
Share Performance



0.00%
This Quarter



Federal Agricultural Mortgage Corporation
Profile

Federal Agricultural Mortgage Corporation, also known as Farmer Mac, operates as a government-sponsored enterprise in the United States. It provides a secondary market for agricultural real estate loans, rural utilities, and rural housing loans, by purchasing and guaranteeing them.

More about Federal Agricultural Mortgage Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 707.027 mill. $ 351.777 mill. $ 192.401 mill.


American International Group Inc
Share Performance



+11.67%
One Year



American International Group Inc
Profile

American International Group Inc (AIG) is a multinational insurance and financial services organization that primarily operates in the insurance sector by underwriting a wide range of policies, encompassing property, casualty, life, and retirement products. In addition to its insurance offerings, AIG provides risk management solutions to help clients navigate financial uncertainties and protect against potential losses. Another key aspect of AIGs business model is investing the premiums collected from policyholders, which helps generate income and strengthen the companys capital reserves.

More about American International Group Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 48,610.671 mill. $ 35,715.000 mill. $ -2,300.000 mill.


Mr Cooper Group Inc
Share Performance



+10.30%
This Year



Mr Cooper Group Inc
Profile

Mr. Cooper Group Inc operates as a mortgage servicer and lender, focusing on helping customers navigate their homeownership journey.

More about Mr Cooper Group Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,798.689 mill. $ 1,975.000 mill. $ 547.000 mill.


Essent Group Ltd
Share Performance



+3.96%
Over The Past 5 Days



Essent Group Ltd
Profile

Essent Group Ltd operates as a private mortgage insurance company, providing financial protection to lenders and investors against home mortgage credit risk. The company earns revenue through the collection of insurance premiums and investment income generated from the funds held to support insurance reserves.

More about Essent Group Ltd 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,149.231 mill. $ 1,225.154 mill. $ 736.870 mill.


Genworth Financial Inc
Share Performance



+5.90%
Over The Past 5 Days



Genworth Financial Inc
Profile

Genworth Financial Inc's business model revolves around providing insurance and financial solutions, focusing primarily on long-term care insurance, life insurance, mortgage insurance, and annuities. Their aim is to help individuals and families protect themselves financially, manage risks, and plan for the future.

More about Genworth Financial Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,050.600 mill. $ 7,424.000 mill. $ 214.000 mill.


Mbia Inc
Share Performance



+7.46%
One Year



Mbia Inc
Profile

Mbia Inc's business model focuses on providing financial guarantees and insurance products, particularly in the areas of bond and municipal finance, to clients such as governments, financial institutions, and corporations.

More about Mbia Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 288.410 mill. $ 13.000 mill. $ -579.000 mill.


Mgic Investment Corp
Share Performance



+4.89%
30 Days



Mgic Investment Corp
Profile

MGIC Investment Corp's business model revolves around providing mortgage insurance to lenders.

More about Mgic Investment Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,379.975 mill. $ 1,190.244 mill. $ 762.798 mill.




Sources: Radian Group Inc and all companies mentioned above in this report


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