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Radian Group Steps Up Safety Measures Amid Coronavirus Outbreak
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Radian Group Inc. (RDN - Free Report) announced that it has taken precautionary steps against the novel coronavirus pandemic in order to provide protection and ensure safety of its customers, partners, investors, communities and also that of its employees and their families.
Radian has suspended its share repurchase program to sustain its capital and liquidity position in the current unstable economic condition. It has revoked its current 10b5-1 plan effective Mar 19, 2020 and may initiate a new 10b5-1 plan in the future, in accordance with SEC rules.
Radian Group’s mortgage insurance subsidiary, Radian Guaranty Inc. is coordinating with governmental programs, including the programs and policies instituted by Fannie Mae and Freddie Mac Guidelines, to provide support to those lenders who work to aid borrowers. The steps include temporary alternatives to traditional property appraisals and verbal verification of employment.
Additional Fannie Mae and Freddie Mac policies are followed for loans where borrowers are experiencing a COVID-19 related hardship include credit reporting requirements flexibility, forbearance plans, loan modifications, and suspension of foreclosure and evictions.
To aid borrowers facing problems like credit reporting requirements flexibility, forbearance plans, loan modifications and suspensions of foreclosure and evictions, as a result of the COVID-19 pandemic, additional Fannie Mae and Freddie Mac policies for loans are being followed.
In order to ensure its employees’ safety as well as to serve its customers, Radian has commenced its business continuity program and shifted to a work-from-home model with certain essential activities supported by limited staff in controlled office environments.
Radian is a group of separately capitalized companies offering mortgage insurance. It protects lenders from default-related losses and enables homebuyers to purchase homes with down payments. Its mortgage insurance portfolio is expected to create a strong foundation for future earnings. The company remains focused on improving its mortgage insurance portfolio to drive long-term earnings growth.
Shares of this Zacks Rank #3 (Hold) insurer have lost 35.8% in a year’s time, compared with the industry's decline of 34%.
James River Group and EverQuote surpassed estimates in the last four quarters, delivering positive surprise of 12.36% and 83.89% on average, respectively.
MetLife surpassed estimates in three of the last four quarters, the positive surprise being 12.67%, on average.
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Radian Group Steps Up Safety Measures Amid Coronavirus Outbreak
Radian Group Inc. (RDN - Free Report) announced that it has taken precautionary steps against the novel coronavirus pandemic in order to provide protection and ensure safety of its customers, partners, investors, communities and also that of its employees and their families.
Radian has suspended its share repurchase program to sustain its capital and liquidity position in the current unstable economic condition. It has revoked its current 10b5-1 plan effective Mar 19, 2020 and may initiate a new 10b5-1 plan in the future, in accordance with SEC rules.
Radian Group’s mortgage insurance subsidiary, Radian Guaranty Inc. is coordinating with governmental programs, including the programs and policies instituted by Fannie Mae and Freddie Mac Guidelines, to provide support to those lenders who work to aid borrowers. The steps include temporary alternatives to traditional property appraisals and verbal verification of employment.
Additional Fannie Mae and Freddie Mac policies are followed for loans where borrowers are experiencing a COVID-19 related hardship include credit reporting requirements flexibility, forbearance plans, loan modifications, and suspension of foreclosure and evictions.
To aid borrowers facing problems like credit reporting requirements flexibility, forbearance plans, loan modifications and suspensions of foreclosure and evictions, as a result of the COVID-19 pandemic, additional Fannie Mae and Freddie Mac policies for loans are being followed.
In order to ensure its employees’ safety as well as to serve its customers, Radian has commenced its business continuity program and shifted to a work-from-home model with certain essential activities supported by limited staff in controlled office environments.
Radian is a group of separately capitalized companies offering mortgage insurance. It protects lenders from default-related losses and enables homebuyers to purchase homes with down payments. Its mortgage insurance portfolio is expected to create a strong foundation for future earnings. The company remains focused on improving its mortgage insurance portfolio to drive long-term earnings growth.
Shares of this Zacks Rank #3 (Hold) insurer have lost 35.8% in a year’s time, compared with the industry's decline of 34%.
Stocks to Consider
Some better-ranked stocks in the same space include James River Group Holdings, Ltd. (JRVR - Free Report) , EverQuote, Inc. (EVER - Free Report) and MetLife, Inc. (MET - Free Report) . While James River Group sports a Zacks Rank #1 (Strong Buy), EverQuote and MetLife carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
James River Group and EverQuote surpassed estimates in the last four quarters, delivering positive surprise of 12.36% and 83.89% on average, respectively.
MetLife surpassed estimates in three of the last four quarters, the positive surprise being 12.67%, on average.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>