Mortgage

Radian Group reports $12.7 million net loss in 3Q

According to Reuters, mortgage insurer Radian Group (RDN) posted a quarterly loss, compared with a year earlier profit, as it took a loss on investments after a large net gain in the prior period.

The company reported a net loss of $12.7 million, or 7 cents per share, for the third quarter ended Sept. 30, compared with a net profit of $14.3 million, or 11 cents per share, a year earlier.

The results included a loss of $7.1 million on investments, compared with a net gain of $84.7 million in the year-earlier period.

New mortgage insurance written rose to $13.7 billion from $10.6 billion.

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3d rendering of a row of luxury townhouses along a street

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