RADIAN GROUP INC

All Other activities include: (i) income (losses) from assets held by Radian Group, our holding company; (ii) related general corporate operating expenses not attributable or allocated to our reportable segment; and (iii) the operating results from certain other immaterial activities and operating segments, including our Mortgage Conduit, Title, Real Estate Services and Real Estate Technology businesses.

The businesses included in our All Other category are dependent upon overall activity in the mortgage finance and real estate markets, as well as the overall health of the related industries. Due, in part, to the transactional nature of the businesses, revenues for our All Other category are subject to fluctuations from period to period, including fluctuations that reflect the seasonal volume fluctuations in these markets. Volumes are also affected by the number of competing companies and alternative products offered in the market, as well as pricing differences.

See Note 4 of Notes to Consolidated Financial Statements for additional information regarding our segment reporting, including our All Other category.

All Other Products and Services

Mortgage Conduit

In 2022, we launched Radian Mortgage Capital to expand our capabilities to participate in the mortgage market to aggregate, manage and distribute residential credit risk. Radian Mortgage Capital, a mortgage conduit, acquires residential mortgage loans with the intention of then selling the loans directly to mortgage investors, including Freddie Mac, and, subject to market conditions, distributing them into the capital markets through private label securitizations, with the option to retain and manage structured components of the underlying credit risk.

Radian Mortgage Capital is licensed in 49 states and the District of Columbia and positioned to purchase and hold residential mortgages and servicing rights on a nationwide basis. See Note 7 of Notes to Consolidated Financial Statements for additional details, including information on Radian Mortgage Capital’s first two securitizations, which were completed in 2024.

Title

As a national title provider, we offer a comprehensive suite of insurance and non-insurance title and real estate settlement services to mortgage lenders, mortgage investors and the GSEs as well as directly to consumers for residential mortgage loans. Our title solutions range from fully-insured products to uninsured title searches and home equity loans, as well as services that support lenders with a range of traditional, hybrid and fully digital closing solutions.

Real Estate Services

We provide our customers with real estate asset management services, which include: (i) managing REO properties owned primarily by financial institutions and mortgage investors, including the GSEs; (ii) providing a range of services for the benefit of the single-family rental asset class, including by facilitating the property valuation and diligence services needed to support single-family rental warehouse lending and securitization activity; and (iii) offering a web-based asset management workflow solution to assist our customers in managing REO assets, rental properties and other real estate activities.

In addition, through our licensed real estate broker subsidiary, homegenius Real Estate, we provide a suite of real estate valuation products and services to lenders, servicers, investors and GSEs, including broker price opinions and various technology-enabled valuations.

Real Estate Technology

In addition to the services described above, we have developed a proprietary real estate technology platform to deliver a configurable experience designed to engage and support consumers across the real estate lifecycle. These digital services and solutions include: national home search capabilities using unique data and photo search experiences; interactive valuation estimates; title services; a service to match interested homebuyers with local real estate agents; and ongoing interactions subsequent to home purchase, including consideration of home equity lending options.

We are currently exploring strategic options to maximize the value of this platform, which is offered primarily through our licensed real estate broker subsidiary, homegenius Real Estate.