Radian Shuts Down Mortgage Conduit Business, Refocuses On Insurance Strategy
Radian Group has ceased accepting new business for its mortgage conduit platform and will wind down the unit over the coming months. The company determined that discontinuing the operation was preferable to selling it, according to company statements.The conduit, which operated primarily through Radian Mortgage Capital, bought mortgages from lenders in the secondary market. It then sold these to investors or into private-label securitizations, sometimes retaining mortgage servicing rights on those loans.
Radian Group has ceased accepting new business for its mortgage conduit platform and will wind down the unit over the coming months. The company determined that discontinuing the operation was preferable to selling it, according to company statements.The conduit, which operated primarily through Radian Mortgage Capital, bought mortgages from lenders in the secondary market. It then sold these to investors or into private-label securitizations, sometimes retaining mortgage servicing rights on those loans.
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