Headquartered in Philadelphia, Radian connects lenders, homebuyers, investors and loan servicers using a suite of private mortgage insurance and related risk management products and services.
We help promote and preserve the tradition of homeownership while protecting lenders from default-related losses on residential first mortgages. We also facilitate the sale of low-downpayment mortgages in the secondary market. Our commitment to homeownership is built on a foundation of evaluating credit risk; we help clients and investors expertly and prudently manage risk in any market condition. Radian Group Inc. is traded on the New York Stock Exchange under the symbol RDN.
Radian is a group of separately capitalized companies that share a unified strategic focus. Our core business, Radian Guaranty Inc., provides private mortgage insurance to protect lenders from default-related losses, facilitate the sale of low-downpayment mortgages in the secondary market and enable homebuyers to purchase homes more quickly with downpayments less than 20%.
Other Radian companies include:
Radian Asset Assurance Inc. provided financial guaranty insurance and reinsurance to domestic and international issuers of municipal bonds, asset-backed securities and structured finance transactions. In the third quarter of 2008, we discontinued writing any new financial guaranty business, including accepting reinsurance.
Radian Asset Assurance Limited is a subsidiary of Radian Asset Assurance Inc. for an array of asset classes including synthetic credit default swaps, in the United Kingdom, France, the Netherlands and the Republic of Ireland.
Radian Insurance Inc. is a subsidiary of Radian Guaranty Inc., and provided credit enhancement for capital market transactions and wrote credit insurance on mortgage-related assets, along with net interest margins and second lien mortgages. We have discontinued writing insurance for these and other products in the capital markets.
Radian's ownership interests help lending institutions effectively manage their balance sheets by purchasing, servicing and securitizing sub and non-performing assets, including mortgages, credit card receivables, student loans and bankruptcy debt.
We own a partnership interest in C-BASS, which specialized in acquiring, servicing and securitizing credit-impaired residential mortgages that have been or are being foreclosed. In the second half of 2007, C-BASS exited the securitization business and is currently liquidating its existing portfolio. Visit the C-BASS website.