PHILADELPHIA, April 24 /PRNewswire-FirstCall/ -- Radian Guaranty Inc.,
a provider of mortgage insurance and subsidiary of global credit risk
management company Radian Group Inc. (NYSE: RDN), today announced that
Russell E. Johnson has joined the company as Senior Vice President, Loss
Management. In this position, Mr. Johnson will oversee Radian's approach to
mitigate and manage losses on defaulted loans. His responsibilities will
include default reporting, loss mitigation, claims processing and
investigative services.
Mr. Johnson brings more than 14 years of financial services experience
to Radian, having most recently served as senior vice president and
director of Servicing Operations for American Residential Equities, Inc.,
where he managed distressed pools of mortgage loans and instituted
processes to enhance their profitability. Prior to that, Mr. Johnson was
the vice president and national servicing manager at Washington Mutual Bank
where he was responsible for servicing a subprime mortgage portfolio in
excess of $15 billion. Mr. Johnson also spent nine years at Wells Fargo
where he created and directed a subprime mortgage servicing platform to
manage a multibillion-dollar portfolio.
"Rusty is a forward-thinking, experienced professional with great
knowledge of both the mortgage servicing industry and best practices in
loss mitigation," said Mark Casale, president - Radian Guaranty. "I am
pleased to have someone with Rusty's talent and experience join our team."
Mr. Johnson earned his B.S. degree from Bryant University.
About Radian Group
Radian Group Inc. is a global credit risk management company
headquartered in Philadelphia with significant operations in both 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 active
credit-based consumer asset businesses. Additional information may be found
at http://www.radian.biz.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz/
CONTACT:
For investors - Mona Zeehandelaar of Radian
Group, +1-215-231-1674, email: mona.zeehandelaar@radian.biz, or
For the media - Radian Group Corporate Communications,
+1-888-NEWS-520, email: media@radian.biz
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