Radian starts non-agency mortgage conduit

Abstract

Radian Group is entering the conduit business with the launch of Radian Mortgage Capital. The company will aggregate loans to be securitized in the private label market. The business is an extension of what Radian's mortgage insurance and real estate data operations already offer clients. "We will not do subprime loans," CEO Rick Thornberry said. "One thing I learned many years ago is diversification ofLiquidity is key and essential," Thornberry says. The secondary market for high-quality loans. The second-tier market is a key factor for the new business. The company was hearing from its MI customers and clients of homegenius and other clients, he says.