PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) today announced that Derek Brummer has been named President of Radian’s Mortgage business. He will continue to oversee the company’s Mortgage Insurance and Mortgage Risk Services businesses, including developing strategies for continued growth as the mortgage industry evolves.
“Derek has done an outstanding job working with the team to grow our Mortgage Insurance and Risk Services businesses, while keeping a sharp focus on managing Radian’s risk-return profile,” said Chief Executive Officer Rick Thornberry. “His leadership and credit risk discipline have fostered transformative approaches that benefit our customers and set us apart in the industry.”
Brummer, 49, has been instrumental in growing Radian’s high-quality mortgage insurance portfolio and expanding the company’s credit risk products and services. Since Brummer assumed the role of Senior Executive Vice President in February 2018, Radian has increased the granularity and customized nature of its risk-based pricing tools, while also furthering its goal of effectively managing capital and reducing portfolio volatility through reinsurance and mortgage insurance-linked notes.
“Since joining Radian, I have been fortunate to work with outstanding teams throughout the organization," said Brummer. “I look forward to building upon our progress to expand Radian’s value proposition and meet an even broader range of customer needs.”
Brummer joined Radian in 2002, serving as Chief Risk Officer since 2013 and as head of Mortgage Insurance and Risk Services since 2018. Prior to that, he was Chief Risk Officer and General Counsel for Radian’s financial guaranty company. Before joining Radian, Brummer was a corporate associate at Allen & Overy as well as Cravath, Swaine & Moore, both in New York. He holds a bachelor’s degree from the University of Nebraska at Lincoln and a J.D. from New York University School of Law.
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, and title services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Learn more about Radian’s financial strength and flexibility at www.radian.biz and visit www.radian.com to see how Radian is shaping the future of mortgage and real estate services.