Liabilities? Just compare the #s either RDN is magically getting hit by faaaar fewer losses from the exact same business (or even worse business because mtg niw usually higher quality).... Or rdn is juicing their numbers
How they can have fewer delinqs, more denials, more cures, from lower quality NIW does not make sense to me. Rdn 3q loss was almost half because they're denying at a much higher rate. But what about when they're forced to pay those denials all at once?
I hope rdn is a genius story but I'd be scared to hold it at any future earnings. At least with mtg, I feel I know and trust the numbers