Radian Mortgage Capital Closes its Inaugural Secondary Market Securitization
31 Luglio 2024 - 10:20PM
Business Wire
Mortgage Conduit Securitizes $348.9 million of
Residential Real Estate Loans
Radian Group Inc. (NYSE: RDN) today announced that its mortgage
conduit, Radian Mortgage Capital LLC (RMC), has closed its
inaugural prime jumbo securitization, Radian Mortgage Capital
2024-J1.
Radian Mortgage Capital 2024-J1 is a $348.9 million
securitization of residential real estate loans supported by 359
30-year, fixed-rate mortgage fully amortizing loans. The mortgage
pass-through certificates were offered for sale to eligible
third-party capital markets investors in an unregistered private
offering. At closing, RMC retained an interest in the unregistered
certificates.
RMC was formed to provide residential mortgage lenders with an
additional secondary-market option for high-quality loans and to
provide mortgage investors with a trusted, high-quality sponsor.
Consistent with Radian’s stated strategy, RMC expands the company’s
capabilities to participate in the mortgage market to aggregate,
manage and distribute residential mortgage credit risk.
“We are pleased to close this inaugural transaction, which
leverages Radian’s mortgage market and credit risk management
expertise to fill a need for additional secondary market options
from trusted, high-quality sponsors,” said Chief Executive Officer
Rick Thornberry. “Radian’s successful model for aggregating,
managing and distributing residential mortgage credit risk creates
the opportunity for us to expand the value we're able to offer
lenders and investors through Radian Mortgage Capital as a
full-service correspondent lender.”
About Radian
Radian is ensuring the American dream of homeownership
responsibly and sustainably through products and services that
include industry-leading mortgage insurance and a comprehensive
suite of mortgage, risk, real estate, securitization, and title
services. Powered by technology, informed by data and driven to
deliver new and better ways to transact and manage risk, Radian is
shaping the future of mortgage and real estate services. Learn more
at radian.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240731355894/en/
For Investors: Dan Kobell - Phone: 215.231.1113 email:
daniel.kobell@radian.com
For the Media: Rashi Iyer - Phone 215.231.1167 email:
rashi.iyer@radian.com
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