PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) today announced that board member Brian D. Montgomery has been honored as the official nominee to serve as Commissioner of the Federal Housing Administration (FHA). Notably, a veteran senior public servant, Montgomery served the nation as Commissioner of the FHA from 2005 to 2009. He joined Radian’s Board of Directors in 2012, and has notified the company that he intends to officially resign his board duties upon U.S. Senate ratification and confirmation of his appointment.
“We congratulate Brian on the news of his nomination to serve as FHA Commissioner, which provides recognition from the very highest levels of his career commitment to the U.S. housing industry,” said Radian Chief Executive Officer Rick Thornberry. “Brian’s nomination is welcome acknowledgment of the strength of expertise and depth of experience represented by Radian’s Board of Directors.”
Thornberry added, “On behalf of the entire company, I wish Brian success in his Senate confirmation process and, in the event he is confirmed and assumes the role, all the best as he retakes the mantle of Commissioner of the FHA.”
In addition to his previous service as FHA Commissioner, Montgomery also served on the Federal Housing Finance Board from 2005 to 2008 as well as the Board of NeighborWorks America from 2005 to 2009. NeighborWorks America is a federally chartered non-profit agency that provides grants and technical assistance to local housing agencies.
“I am deeply honored to be nominated to serve as the Commissioner of the Federal Housing Administration,” said Montgomery. “As I seek to be confirmed to this important role, I remain incredibly grateful to be part of the Radian family, and wish continued success to its leadership and to my fellow board members.”
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:
- Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance protects lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
- Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.
Additional information may be found at www.radian.biz.