Denials Not Looking Good, Reserve Adjustment Ahead???
So far this quarter Radian's net denials are nearly flat, especially compared to the thousands per month they have been doing for the past year. But they are assuming away $500M+ in reserves based on future denials. Something doesn't compute.
Take away that $500M and their risk to capital is well above 25:1. And Radian can't afford to go above 25:1, the consequences will be dire.