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03/28/2018

Radian Expands Geographic Footprint for Title Services with Acquisition of Entitle Direct

-- Acquisition complements existing capabilities offered through its ValuAmerica subsidiary; positions Radian to provide title insurance and settlement services to customers nationwide --

PHILADELPHIA--(BUSINESS WIRE)--Mar. 28, 2018-- Radian Group Inc. (NYSE: RDN) announced today that it has acquired Entitle Direct Group, Inc., a national title insurance and settlement services company.

This acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings of its Mortgage and Real Estate Services business. Entitle Direct, with its 40 state title insurance licenses, will complement the geographic reach of ValuAmerica, Radian’s existing title agency.

Radian Chief Executive Officer Rick Thornberry commented, “We are delighted to welcome Entitle to the Radian family of companies, expanding our capabilities and providing our customers across the country with the title insurance and settlement services they want and need. This is another example of the progress we are making to reposition our Services segment for sustained profitability, by focusing on and investing in the products and services that are core to that business.”

Entitle Direct will continue to operate under its current brand and provide the same level of quality products and services to its customers through its offices in Independence, Ohio; Pittsburgh, Pennsylvania; Corona, California; and Austin, Texas. Eric Ray, senior executive vice president, Technology and Transaction Services for Radian will be responsible for the strategic direction and leadership for the company’s title and settlement services businesses. No other terms of the transaction were announced.

ABOUT RADIAN

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:

  • Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance helps protect lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
  • Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.

Additional information may be found at www.radian.com.

FORWARD-LOOKING STATEMENTS

All statements in this press release that address events, developments or results 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 Exchange Act and the U.S. Private Securities Litigation Reform Act of 1995. In most cases, forward-looking statements may be identified by words such as “anticipate,” “may,” “will,” “could,” “should,” “would,” “expect,” “intend,” “plan,” “goal,” “contemplate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “strategy,” “future,” “likely” or the negative or other variations on these words and other similar expressions. These statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment where new risks emerge from time to time and it is not possible for us to predict all risks that may affect us. The forward-looking statements, as well as our prospects as a whole, are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These risks and uncertainties include, without limitation: the Company’s ability to successfully implement the restructuring plan as currently anticipated; restructuring charges being different from those estimated, including changes in the size and components of the expected costs and charges associated with the restructuring as well as unanticipated charges not currently contemplated that may occur as a result of the restructuring; changes in the planned timing of the restructuring, including the timing of plans for implementing the reductions in workforce; and disruption in our business associated with the restructuring plan and related activities.

Source: Radian Group Inc.

Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.com