| Schedule of Assets and Liabilities Held for Sale |
The assets and liabilities associated with the discontinued operations have been segregated in the condensed consolidated balance sheets. The following table summarizes the major components of the Mortgage Conduit, Title and Real Estate Services assets and liabilities held for sale on the condensed consolidated balance sheets for the periods presented.
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Assets and liabilities held for sale |
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(In thousands) |
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March 31,
2026 |
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December 31,
2025 |
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Assets held for sale |
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Investments |
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Fixed maturities available for sale—at fair value |
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$ |
6,514 |
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$ |
6,489 |
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Residential mortgage loans held for sale—at fair value (1) |
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193,887 |
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|
340,734 |
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Short-term investments—at fair value |
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28,538 |
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|
57,791 |
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Total investments |
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228,939 |
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|
405,014 |
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Cash |
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|
7,364 |
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|
20,597 |
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Restricted cash |
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— |
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|
86 |
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Accrued investment income |
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|
1,870 |
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|
3,068 |
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Premiums and other receivables |
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2,245 |
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|
5,412 |
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Reinsurance recoverables |
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1,253 |
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|
2,743 |
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Other assets |
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38,389 |
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|
37,348 |
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Total assets held for sale |
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$ |
280,060 |
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$ |
474,268 |
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Liabilities held for sale |
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Liabilities |
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Reserve for losses and LAE |
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$ |
4,816 |
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$ |
6,874 |
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Short-term borrowings (1) |
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183,858 |
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324,226 |
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Other liabilities |
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30,559 |
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|
32,718 |
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Total liabilities held for sale |
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$ |
219,233 |
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$ |
363,818 |
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(1)Radian Mortgage Capital has entered into the Master Repurchase Agreements, which are collateralized borrowing facilities used to finance the acquisition of residential mortgage loans and related mortgage loan assets. As of March 31, 2026, Radian Group had separate Parent Guarantees outstanding to guaranty the obligations under each of Radian Mortgage Capital’s two remaining Master Repurchase Agreements. The combined maximum borrowing amount under the remaining Master Repurchase Agreements is $900 million, of which $184 million was outstanding as of March 31, 2026.
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| Schedule of Income (Loss) from Discontinued Operations, Net of Tax |
The income (loss) from discontinued operations, net of tax, consisted of the following components for the periods indicated.
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Income (loss) from discontinued operations, net of tax |
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Three Months Ended
March 31, |
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(In thousands) |
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2026 |
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|
2025 |
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Revenues |
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Net premiums earned |
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$ |
5,037 |
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$ |
2,634 |
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Services revenue |
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13,656 |
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11,943 |
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Net investment income |
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5,091 |
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|
7,564 |
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Net gains (losses) on financial instruments and foreign exchange |
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1,409 |
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|
1,278 |
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Income (loss) on consolidated VIEs |
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— |
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428 |
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Other income (loss) |
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1,685 |
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(568 |
) |
Total revenues |
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26,878 |
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23,279 |
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Expenses |
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Provision for losses |
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209 |
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(173 |
) |
Cost of services |
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10,152 |
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|
8,673 |
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Other operating expenses |
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20,155 |
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|
19,039 |
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Interest expense |
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|
3,613 |
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|
6,010 |
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Total expenses |
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34,129 |
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|
33,549 |
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Pretax income (loss) from discontinued operations |
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(7,251 |
) |
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(10,270 |
) |
Income tax provision (benefit) |
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(1,878 |
) |
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(2,738 |
) |
Income (loss) from discontinued operations, net of tax |
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$ |
(5,373 |
) |
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$ |
(7,532 |
) |
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