Radian Group Inc. was downgraded by Standard & Poor’s, citing insurer losses that exceeded the rating agency’s previous forecasts, according to a Reuters report.

In a statement, S&P said, “Although the macroeconomic environment is showing signs of improvement, the recession appears to have had a deeper impact on mortgage insurance companies than we expected.”

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Trade Time: Dec 24
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About Radian Group Inc.

Radian Group, Inc., through its subsidiaries, provides credit-related insurance coverage and financial services. The company operates in three segments: Mortgage Insurance, Financial Guaranty, and Financial Services. The Mortgage Insurance segment offers credit protection for mortgage lenders and other financial services companies on residential mortgage assets. This segment serves mortgage originators, such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, and credit unions. The Financial Guaranty segment insures and reinsures municipal bonds, structured finance transactions, and other credit-based risks, as well as provides credit protection on various asset classes through financial guarantees and credit default swaps.