PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) announced today that it has acquired Entitle Direct Group, Inc., a national title insurance and settlement services company.
This acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings of its Mortgage and Real Estate Services business. Entitle Direct, with its 40 state title insurance licenses, will complement the geographic reach of ValuAmerica, Radian’s existing title agency.
Radian Chief Executive Officer Rick Thornberry commented, “We are delighted to welcome Entitle to the Radian family of companies, expanding our capabilities and providing our customers across the country with the title insurance and settlement services they want and need. This is another example of the progress we are making to reposition our Services segment for sustained profitability, by focusing on and investing in the products and services that are core to that business.”
Entitle Direct will continue to operate under its current brand and provide the same level of quality products and services to its customers through its offices in Independence, Ohio; Pittsburgh, Pennsylvania; Corona, California; and Austin, Texas. Eric Ray, senior executive vice president, Technology and Transaction Services for Radian will be responsible for the strategic direction and leadership for the company’s title and settlement services businesses. No other terms of the transaction were announced.
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 helps protect 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.
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