Radian Posts 4Q Loss, MI Volumes Down

After earning a profit in the third quarter, Radian Guaranty Inc., Philadelphia, lost $250.4 million in the fourth quarter, an improvement over last year's 4Q loss of $721 million. For all of 2008 the insurer lost $410.6 million ($5.12 per share), versus a loss of $1.3 billion ($16.22 per share) in 2007. In the fourth quarter Radian's mortgage insurance business posted a net loss of $77.0 million, compared to a loss of $336.6 million in the same period one year prior. For the year, the mortgage insurance business lost $784.7 million compared to $695.4 million in 2007. In the fourth quarter Radian wrote $5 billion of primary new insurance, most of it through its flow channel. In the same quarter of 2007, it wrote $13.6 billion of new insurance, $10.4 billion of which was flow. For all of 2008 it wrote $32.5 billion in new MI, compared to $57.1 billion the year before.