Radian Group Inc 8-K, filed Jul 1, 2025
Radian Group Inc (RDN)
About this 8-K
Radian Group Inc filed this 8-K on July 1, 2025, reporting on events of June 26, 2025.
Items reported
- Item 1.01: Entered into a material agreement
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| Item 1.01. | Entry into a Material Definitive Agreement. |
As previously disclosed, Radian Mortgage Capital LLC (“RMC”), a subsidiary of Radian Group Inc. (the “Company”) is a party to the Uncommitted Master Repurchase Agreement, dated as of January 29, 2024 (assigned by Flagstar Bank N.A. to JPMorgan Chase Bank, National Association (“JPMorgan”), as administrative agent, effective as of July 22, 2024) to finance the acquisition of mortgage loans and related mortgage loan assets (the “JP Morgan MRA”). RMC uses the financing facility to finance its acquisition of residential mortgage loans from correspondent lenders, which are held by RMC for direct sale to mortgage investors or distribution in the capital markets through securitization. Also, as previously disclosed, in connection with the JP Morgan MRA, on January 29, 2024, the Company entered into a Guaranty Agreement in favor of JPMorgan (the “Parent Guaranty”) to guaranty the obligations of RMC under the JP Morgan MRA. Since January 2024, RMC, the Company and JPMorgan have amended the JP Morgan MRA to increase the maximum borrowing amount to $300 million, and to extend the termination date of the JP Morgan MRA to December 12, 2025.
On June 5, 2025, RMC, the Company and JPMorgan entered into Amendment No. 2 to the JP Morgan MRA (“Amendment No. 2”) which allowed RMC to temporarily increase the maximum borrowing amount to $400 million through June 30, 2025. Amendment No. 2 included a reaffirmation of the Company’s obligations under the Parent Guaranty. In all other respects the terms of the JP Morgan MRA, including the Parent Guaranty, remain unchanged.
On June 26, 2025, JPMorgan extended the temporary increase in the maximum borrowing amount through August 28, 2025.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RADIAN GROUP INC. | ||||||
| (Registrant) | ||||||
| Date: July 1, 2025 | ||||||
| By: | /s/ Liane Browne | |||||
| Liane Browne | ||||||
| Senior Vice President | ||||||