Radian Group Inc. swung to a big profit from a quarterly loss a year previous. New policies written increased, the book of business expanded, and delinquency decreased.
Consolidated pre-tax income swung to a $181 million second-quarter profit from a $35 million pre-tax loss a year earlier, according to Radian’s earnings report.
Results at the Philadelphia-based mortgage insurance company additionally improved from the first-three months of this year, when profits came in at $142 million.
Source: Mortgage Daily