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Radian Group Inc. Message Board

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  • birch88k birch88k Aug 19, 1999 1:50 PM Flag

    Mortgage Insurance Providers...

    3 or 4 winners per week at this site^^^^

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    • Let's get some real interest on this board!!!! We
      need knowledgable people who know this company and
      this industry to discuss the "real" issues regarding
      RDN. For example, it appears the former Amerin
      management group has taken control of this company. That's
      too bad because that group doesn't have a clue,
      expecially Mr. Kasmar, who has never been successful at
      anything he's done except to be in the right place at the
      right time. He's a micro-manager who is creating
      tension and conflict within the
      organization.

      Let's also talk about RDNs underwriting philosophy and
      what that will mean to investors when we have a
      downturn in the real estate sector. RDN has a reputation
      of being somewhat "fast and loose" with their
      underwriting in order to creat market share which creates
      income. However, that is short-term oriented. What's in
      store three years from now?

      • 2 Replies to Banklover
      • I personally have no investment in RDN, but do in
        both MTG and PMA. This sector is very undervalued for
        the amount of money these guys make.

        It's
        interesting to hear about Mr. Kasmar like that because I have
        heard nothing about him. Also, aren't most of the top
        management from CMAC like Frank and the sales and finance
        guys? I never thought either of these companies was
        wonderful and I thought less so about Amerin who started
        off with a mission to be the LPMI/discount insurer
        only to junk the concept when market share stalled at
        about 5%.

        The one thing I can say is that Amerin
        had good timing in the sale, just when their share
        had been boosted to 8% (this will be temporary, IMHO)
        and the combined share of the two will settle around
        15-16%. You can already see the other MIs picking up
        share at the expense of RDN.

        If I was a
        shareholder, I would be worried about the credit quality of
        both the former CMAC and Amerin as they were both
        known to have more marginal credit quality than anyone
        else, and the combination of the two quite possibly
        will produce larger than industry normal losses when
        the next downturn occurs, some say as soon as Q2/Q3
        2000. (Sorry Banklover, I just realized you wrote
        almost the same thing, but I think other RDN
        shareholders have to understand this)

        Any comments
        about any of the MIs would be appreciated.

        Good
        luck to all,

        Bones

      • Just signed up. Have very reliable, very insider information on this comapany and industry would love to have an in-depth discussion on this subject.

 
RDN
14.18-0.08(-0.56%)Oct 1 4:03 PMEDT

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