PHILADELPHIA, Feb. 6 /PRNewswire-FirstCall/ -- Radian Group Inc. (NYSE:
RDN) announced today that the company's Board of Directors approved a
regular quarterly dividend on its common stock in the amount of $0.02 per
share, payable on March 19, 2007, to stockholders of record as of February
16, 2007.
Radian Group Inc. is a global credit risk management company
headquartered in Philadelphia with significant operations in New York and
London. Radian develops innovative financial solutions by applying its core
mortgage credit risk expertise and structured finance capabilities to the
credit enhancement needs of the capital markets worldwide, primarily
through credit insurance products. The company also provides credit
enhancement for public finance and other corporate and consumer assets on
both a direct and reinsurance basis and holds strategic interests in
credit-based consumer asset businesses. Additional information may be found
at http://www.radian.biz.
All statements made in this news release that address events or
developments that we expect or anticipate may occur in the future are
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934
and the U.S. Private Securities Litigation Reform Act of 1995. These
statements are made on the basis of management's current views and
assumptions with respect to future events. The forward-looking statements,
as well as Radian's prospects as a whole, are subject to risks and
uncertainties, including the following: changes in general financial and
political conditions such as extended national or regional economic
recessions (or expansions), changes in housing demand or mortgage
originations, changes in housing values, population trends and changes in
household formation patterns, changes in unemployment rates, changes or
volatility in interest rates or consumer confidence, or changes in credit
spreads; changes in investor perception of the strength of private mortgage
insurers or financial guaranty providers, and risks faced by the
businesses, municipalities or pools of assets covered by Radian's
insurance; the loss of a customer with whom Radian has a concentration of
its insurance in force or the influence of large customers; increased
severity or frequency of losses associated with certain Radian products
that are riskier than traditional mortgage insurance and municipal guaranty
insurance policies; material changes in persistency rates of Radian's
mortgage insurance policies; downgrades of Radian's credit ratings or the
insurance financial-strength ratings assigned by the major ratings agencies
to Radian's operating subsidiaries; heightened competition from other
insurance providers and from alternative products to private mortgage
insurance and financial guaranty
insurance; changes in the charters or business practices of Fannie Mae
and Freddie Mac; the application of federal or state consumer-lending,
insurance and other applicable laws and regulations, or unfavorable changes
in these laws and regulations or the way they are interpreted, including:
(i) the possibility of private lawsuits or investigations by state
insurance departments and state attorneys general alleging that services
offered by the mortgage insurance industry, such as captive reinsurance,
pool insurance and contract underwriting, are violative of the Real Estate
Settlement Procedures Act and/or similar state regulations (particularly in
light of public reports that some state insurance departments are
investigating captive reinsurance arrangements used in the mortgage
insurance industry), or (ii) legislative and regulatory changes affecting
demand for private mortgage insurance or financial guaranty insurance; the
possibility that we may fail to estimate accurately the likelihood,
magnitude and timing of losses in connection with establishing loss
reserves for our mortgage insurance or financial guaranty businesses or to
estimate accurately the fair value amounts of derivative financial guaranty
contracts in determining gains and losses on these contracts; changes in
accounting guidance from the SEC or the Financial Accounting Standards
Board regarding income recognition and the treatment of loss reserves in
the mortgage insurance or financial guaranty industries; changes in claims
against mortgage insurance products resulting from the aging of Radian's
mortgage insurance policies; vulnerability to the performance of Radian's
strategic investments; changes in the availability of affordable or
adequate reinsurance for our non-prime risk; legal and other limitations on
the amount of dividends we may receive from our insurance subsidiaries; and
international expansion of our mortgage insurance and financial guaranty
businesses into new markets and risks associated with our international
business activities. For more information regarding these risks and
uncertainties, as well as certain additional risks that we face, investors
should refer to the risk factors detailed in Part I, Item 1A in our annual
report on Form 10-K for the year ended December 31, 2005 and the material
changes to these risks identified in our quarterly report on Form 10-Q for
the quarter ended June 30, 2006. We caution you not to place undue reliance
on these forward-looking statements, which are current only as of the date
of this news release. Radian does not intend to and disclaims any duty or
obligation to update or revise any forward-looking statements made in this
news release to reflect new information, future events or for any other
reason.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz
CONTACT:
For investors: Mona Zeehandelaar,
+1-215-231-1674 or mona.zeehandelaar@radian.biz; or For the
media: Michelle Davidson, +1-215-231-1325 or cell:
+1-215-260-6760 or michelle.davidson@radian.biz, or Courtney
Robinson, +1-215-231-1762 or cell: +1-215-629-6880 or
courtney.robinson@radian.biz, all of Radian Group
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