<SEC-DOCUMENT>0001157523-15-001464.txt : 20150430
<SEC-HEADER>0001157523-15-001464.hdr.sgml : 20150430
<ACCEPTANCE-DATETIME>20150430083113
ACCESSION NUMBER:		0001157523-15-001464
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150430
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150430
DATE AS OF CHANGE:		20150430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RADIAN GROUP INC
		CENTRAL INDEX KEY:			0000890926
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				232691170
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11356
		FILM NUMBER:		15815410

	BUSINESS ADDRESS:	
		STREET 1:		1601 MARKET STREET
		STREET 2:		12TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2155646600

	MAIL ADDRESS:	
		STREET 1:		1601 MARKET ST
		STREET 2:		12TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CMAC INVESTMENT CORP
		DATE OF NAME CHANGE:	19960126
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51092075.htm
<DESCRIPTION>RADIAN GROUP INC. 8-K
<TEXT>
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          &#160;
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    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WASHINGTON,
      DC 20549</b></font><br>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15(d) of</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>The
      Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Date
      of report (Date of earliest event reported) </b></font><b><u><font style="font-size: 10pt; font-family: Times New Roman">April
      30, 2015</font></u></b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <font style="font-size: 17pt"><b>Radian Group Inc.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman"><b>(Exact
      Name of Registrant as Specified in Its Charter)</b></font><br>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; width: 34%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>1-11356</b></font>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>23-2691170</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(State or Other Jurisdiction<br>of Incorporation)</b>
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Commission<br>File Number)</b>
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(IRS Employer<br>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 60%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>1601
            Market Street, Philadelphia, Pennsylvania</b></font>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; width: 40%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>19103</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 60%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Address
            of Principal Executive Offices)</b></font>
          </p>
        </td>
        <td style="width: 40%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Zip
            Code)</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <b>(215) 231 - 1000</b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><b>(Registrant&#8217;s
      Telephone Number, Including Area Code)</b></font><br><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>(Former
      Name or Former Address, if Changed Since Last Report)</b></font><br><br>
    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">


    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions </font>&#160;(<i>see </i>General Instruction
      A.2. below)<font style="font-size: 10pt; font-family: Times New Roman">:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">
      <b>Item 2.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p>

    </p>
    <p>
      On April 30, 2015, Radian Group Inc. issued a news release announcing
      its financial results for the quarter ended March 31, 2015. A copy of
      this news release is furnished as Exhibit 99.1 to this report.
    </p>
    <p>
      The information included in, or furnished with, this report shall not be
      deemed &quot;filed&quot; for purposes of Section&#160;18 of the Securities Exchange Act
      of 1934 (the &quot;Exchange Act&quot;), nor shall it be deemed incorporated by
      reference in any filing under the Securities Act of 1933 or the Exchange
      Act, except as shall be expressly set forth by specific reference in
      such filing.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p>

    </p>
    <p>
      <b>(d) <i>Exhibits.</i></b>
    </p>
    <p style="white-space: nowrap; text-indent: 30.0px">
      99.1*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Radian Group Inc. News Release dated April 30, 2015.
    </p>
    <p>
      _____________________<br>*&#160;&#160;Furnished herewith.
    </p>
    <p style="white-space: nowrap">

    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: left">


    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-size: 10pt; font-family: Times New Roman">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.</font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <br>

    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 49%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>RADIAN GROUP INC.</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 49%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          (Registrant)
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 49%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">
          Date:
        </td>
        <td style="width: 49%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">
          April 30, 2015
        </td>
        <td style="width: 4%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="width: 41%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ J. Franklin Hall&#160;&#160;&#160;&#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 49%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 41%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            J. Franklin Hall
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 49%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 41%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT&#160;INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 12%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>No.</b>
          </p>
        </td>
        <td style="width: 4%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
        <td style="width: 84%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 84%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%; text-align: left; padding-left: 0.0px" valign="top">
          99.1*
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 84%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Radian Group Inc. News Release dated April 30, 2015.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 84%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            * Furnished herewith.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51092075ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Radian
      Announces First Quarter 2015 Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>--
      Reports net income of $92 million or $0.39 per diluted share --</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>--
      Adjusted diluted net operating income of $0.35 per share --</b></font>
    </p>
    <p>
      PHILADELPHIA--(BUSINESS WIRE)--April 30, 2015--Radian Group Inc. (NYSE:
      RDN) today reported net income from continuing operations for the
      quarter ended March 31, 2015, of $91.7 million, or $0.39 per diluted
      share, which included net gains on investments and other financial
      instruments of $16.8 million. This compares to net income from
      continuing operations for the quarter ended March 31, 2014, of $146.0
      million, or $0.68 per diluted share, which included net gains on
      investments and other financial instruments of $43.0 million. Book value
      per share at March 31, 2015, was $11.53.
    </p>
    <p>
      Adjusted pretax operating income for the quarter ended March 31, 2015,
      was $123.9 million, compared to adjusted pretax operating income for the
      quarter ended March 31, 2014, of $84.0 million. Adjusted diluted net
      operating income per share for the quarter ended March 31, 2015, was
      $0.35. See &#8220;Non-GAAP Financial Measures&#8221; below.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="7" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Key Financial Highlights</b> <i>(dollars in millions, except
            per share data)</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Quarter Ended<br>March 31,<br>2015
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Quarter Ended<br>March 31,<br>2014**
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Percent<br>Change
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Net income from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $91.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $146.0
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          (37%)
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="middle">
          Diluted net income per share from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $0.39
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $0.68
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          (43%)
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Adjusted pretax operating income
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $123.9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $84.0
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          48%
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Adjusted diluted net operating income per share *
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $0.35
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="top">
          *
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="top">
          *
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Revenues
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $290.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $258.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          13%
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Book value per share
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $11.53
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $6.10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          89%
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          *
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Adjusted diluted net operating income per share is not
            comparable for periods prior to the quarter ended March 31, 2015,
            due to the impact on the company&#8217;s effective tax rate from the
            valuation allowance against deferred tax assets.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          **
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Radian acquired Clayton on June 30, 2014, and therefore results
            for the quarter ended March 31, 2014, do not include results from
            Clayton.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      &#8220;We delivered strong results for Radian in the first quarter, driven
      primarily by outstanding credit trends in our mortgage insurance
      business,&#8221; said Radian&#8217;s Chief Executive Officer S.A. Ibrahim. &#8220;The last
      twelve months have been a turning point for Radian, as we&#8217;ve eliminated
      a significant portion of our legacy risk and therefore simplified our
      company with a focus on our core strengths. Today, we are better
      positioned to drive long-term value, both from our large and growing
      mortgage insurance portfolio and by broadening our future sources of
      revenue through our new mortgage and real estate services businesses.&#8221;
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>FIRST QUARTER HIGHLIGHTS AND RECENT EVENTS</b>
    </p>
    <p>
      <i>Mortgage Insurance</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        New mortgage insurance written (NIW) was $9.4 billion for the quarter,
        compared to $10.0 billion in the fourth quarter of 2014 and $6.8
        billion in the prior-year quarter.

        <ul>
          <li style="margin-bottom: 10.0px">
            Of the $9.4 billion in new business written in the first quarter
            of 2015, 63 percent was written with monthly premiums and 37
            percent with single premiums. This compares to a mix of 69 percent
            monthly premiums and 31 percent single premiums in the fourth
            quarter of 2014. For the twelve-months ended March 31, 2015, the
            percentage of new business written with single premiums averaged
            approximately 30 percent.
          </li>
          <li style="margin-bottom: 10.0px">
            Refinances accounted for 33 percent of total NIW in the first
            quarter of 2015, compared to 22 percent in the fourth quarter of
            2014, and 18 percent a year ago.
          </li>
          <li style="margin-bottom: 10.0px">
            NIW continued to consist of loans with excellent risk
            characteristics.
          </li>
        </ul>
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total primary mortgage insurance in force was $172.1 billion, compared
        to $171.8 billion as of December 31, 2014, and $162.4 billion as of
        March 31, 2014. Persistency, which is the percentage of mortgage
        insurance in force that remains on the company&#8217;s books after a
        twelve-month period, was 82.6 percent as of March 31, 2015, compared
        to 84.2 percent as of December 31, 2014, and 83.3 percent as of March
        31, 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        The mortgage insurance provision for losses was $45.9 million in the
        first quarter of 2015, compared to $83.6 million in the fourth quarter
        of 2014, and $49.6 million in the prior-year period.

        <ul>
          <li style="margin-bottom: 10.0px">
            The loss ratio in the first quarter was 20.4 percent, compared to
            36.9 percent in the fourth quarter of 2014 and 25.0 percent in the
            first quarter of 2014.
          </li>
          <li style="margin-bottom: 10.0px">
            Mortgage insurance loss reserves were $1.4 billion as of March 31,
            2015, compared to $1.6 billion as of December 31, 2014, and $1.9
            billion as of March 31, 2014.
          </li>
          <li style="margin-bottom: 10.0px">
            Primary reserve per primary default (excluding IBNR and other
            reserves) was $28,423 as of March 31, 2015. This compares to
            primary reserve per primary default of $27,683 as of December 31,
            2014, and $26,509 as of March 31, 2014.
          </li>
        </ul>
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        The total number of primary delinquent loans decreased by 11 percent
        in the first quarter from the fourth quarter of 2014, and by 24
        percent from the first quarter of 2014. The primary mortgage insurance
        delinquency rate decreased to 4.6 percent in the first quarter of
        2015, compared to 5.2 percent in the fourth quarter of 2014, and 6.3
        percent in the first quarter of 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        Total mortgage insurance claims paid were $207.1 million in the first
        quarter, compared to $117.2 million in the fourth quarter of 2014, and
        $306.9 million in the first quarter of 2014. Claims paid in the first
        quarter of 2015 include $98.5 million of claims paid relating to the
        September 2014 BofA Settlement Agreement. The company continues to
        expect mortgage insurance net claims paid for the full-year 2015 of
        approximately $600 &#8211; $700 million. This includes a total of
        approximately $250 million of claims expected to be paid in the first
        half of 2015 related to the September 2014 BofA Settlement Agreement.
      </li>
      <li style="margin-bottom: 10.0px">
        On April 17, 2015, the Federal Housing Finance Agency (FHFA) issued
        the final Private Mortgage Insurer Eligibility Requirements (PMIERs)
        developed by Fannie Mae and Freddie Mac (GSEs). The PMIERs provide
        revised requirements for private mortgage insurers (MIs), including
        Radian Guaranty, to remain eligible insurers of loans purchased by the
        GSEs. The PMIERs effective date for existing approved insurers is
        December 31, 2015.

        <ul>
          <li style="margin-bottom: 10.0px">
            As of March 31, 2015, Radian Guaranty would be able to immediately
            comply with the financial requirements of the PMIERs by utilizing
            approximately $330 million of existing holding company liquidity.
            This estimate includes the net proceeds of $789 million from the
            recent sale of Radian Asset Assurance Inc., Radian&#8217;s financial
            guaranty insurance subsidiary, and assumes that the company
            converts approximately $130 million of existing liquid assets into
            PMIERs-compliant Available Assets (as defined in the PMIERs) and
            receives full PMIERs benefit of approximately $145 million for its
            outstanding quota-share reinsurance arrangements, following the
            completion of amendments needed for GSE approval.
          </li>
        </ul>
      </li>
    </ul>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>Mortgage and Real Estate Services</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        On June 30, 2014, Radian completed the acquisition of Clayton Holdings
        LLC, a leading provider of loan due diligence, surveillance, REO
        management and consulting services to the mortgage and real estate
        industries, which was an important step in Radian&#8217;s growth and
        diversification strategy. The Mortgage and Real Estate Services
        segment is primarily comprised of Clayton&#8217;s operations.
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total service revenues for the Mortgage and Real Estate Services
        segment were $30.7 million and gross profit on services was $12.3
        million in the first quarter of 2015. This compares to total service
        revenues of $34.5 million and gross profit on services of $14.8
        million in the fourth quarter of 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        On March 20, 2015, Clayton Holdings acquired Red Bell Real Estate, LLC
        and its sister company, Main Street Valuations, LLC, in order to
        broaden its product offerings within the real estate market. Red Bell
        is a real estate brokerage firm that provides products and services
        that include automated valuation models (AVMs); broker price opinions
        (BPOs) used by investors, lenders and loan servicers; and advanced
        technology solutions for monitoring loan portfolio performance,
        tracking non-performing loans, managing real estate owned (REO) assets
        and valuing residential real estate<b> </b>through a secure platform.
      </li>
    </ul>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>Expenses and Discontinued Operations</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Other operating expenses were $54.6 million in the first quarter,
        compared to $85.8 million in the fourth quarter of 2014, and $54.5
        million in the first quarter of last year. Other operating expenses in
        the fourth quarter of 2014 included $24.4 million related to long-term
        compensation expenses and other year-end bonus accruals, a significant
        portion of which was driven by the variable compensation expense
        related to an increase in the company&#8217;s stock price, and an $11.2
        million settlement of remedies related to services provided on legacy
        business.
      </li>
      <li style="margin-bottom: 10.0px">
        As previously disclosed, on April 1, 2015, Radian Guaranty completed
        the sale of Radian Asset to Assured Guaranty Corp., a subsidiary of
        Assured Guaranty Ltd. (NYSE: AGO). After consideration of
        transaction-related expenses, net proceeds were $789 million. Details
        regarding the assets and liabilities associated with these
        discontinued operations may be found on press release Exhibits D and E.
      </li>
    </ul>
    <p>
      <b>CAPITAL AND LIQUIDITY UPDATE</b>
    </p>
    <p>
      Radian Group maintains approximately $700 million of available liquidity.
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        As of March 31, 2015, Radian Guaranty&#8217;s risk-to-capital ratio was
        17.1:1 and statutory capital was $1.8 billion.
      </li>
      <li style="margin-bottom: 10.0px">
        As of March 31, 2015, a total of $2.6 billion of risk in force
        outstanding had been ceded under quota share reinsurance agreements in
        order to proactively manage Radian Guaranty&#8217;s risk-to-capital
        position. Radian has ceded the maximum amount of NIW under these
        agreements and has not ceded any premium on new business in 2015.
      </li>
    </ul>
    <p>
      <b>CONFERENCE CALL</b>
    </p>
    <p>
      Radian will discuss first quarter financial results in a conference call
      today, Thursday, April 30, 2015, at 10:00 a.m. Eastern time. The
      conference call will be broadcast live over the Internet at <u>http://www.radian.biz/page?name=Webcasts</u>
      or at <u>www.radian.biz</u>. The call may also be accessed by dialing
      800.288.8961 inside the U.S., or 612.332.0335 for international callers,
      using passcode 358122 or by referencing Radian.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      A replay of the webcast will be available on the Radian website
      approximately two hours after the live broadcast ends for a period of
      one year. A replay of the conference call will be available
      approximately two and a half hours after the call ends for a period of
      two weeks, using the following dial-in numbers and passcode:
      800.475.6701 inside the U.S., or 320.365.3844 for international callers,
      passcode 358122.
    </p>
    <p>
      In addition to the information provided in the company&#8217;s earnings news
      release, other statistical and financial information, which is expected
      to be referred to during the conference call, will be available on
      Radian's website under Investors &gt;Quarterly Results, or by clicking on <u>http://www.radian.biz/page?name=QuarterlyResults</u>.
    </p>
    <p>
      <b>NON-GAAP FINANCIAL MEASURES</b>
    </p>
    <p>
      Radian believes that adjusted pretax operating income and adjusted
      diluted net operating income per share (non-GAAP measures) facilitate
      evaluation of the company&#8217;s fundamental financial performance and
      provide relevant and meaningful information to investors about the
      ongoing operating results of the company. On a consolidated basis, these
      measures are not recognized in accordance with accounting principles
      generally accepted in the United States of America (GAAP) and should not
      be viewed as alternatives to GAAP measures of performance. The measures
      described below have been established in order to increase transparency
      for the purpose of evaluating the company&#8217;s core operating trends and
      enabling more meaningful comparisons with Radian&#8217;s competitors.
    </p>
    <p>
      Adjusted pretax operating income is defined as earnings excluding the
      impact of certain items that are not viewed as part of the operating
      performance of the company&#8217;s primary activities, or not expected to
      result in an economic impact equal to the amount reflected in pretax
      income (loss) from continuing operations. Adjusted diluted net operating
      income per share represents a diluted net income per share calculation
      using as its basis adjusted pretax operating income, net of taxes at the
      effective tax rate for the period. See press release Exhibit F or
      Radian&#8217;s website for a description of these items, as well as a
      reconciliation of adjusted pretax operating income (loss) to
      consolidated pretax income (loss) from continuing operations.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>ABOUT RADIAN</b>
    </p>
    <p>
      Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides
      private mortgage insurance and related risk mitigation products and
      services to mortgage lenders nationwide through its principal operating
      subsidiary, Radian Guaranty Inc. These services help promote and
      preserve homeownership opportunities for homebuyers, while protecting
      lenders from default-related losses on residential first mortgages and
      facilitating the sale of low-downpayment mortgages in the secondary
      market. Additional information may be found at <u>www.radian.biz</u>.
    </p>
    <p>
      <b>FINANCIAL RESULTS AND SUPPLEMENTAL INFORMATION CONTENTS</b>
    </p>
    <p>
      <b>(Unaudited)</b>
    </p>
    <p>
      For trend information on all schedules, refer to Radian&#8217;s quarterly
      financial statistics at <u>http://www.radian.biz/page?name=FinancialReportsCorporate</u>.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit A:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Condensed Consolidated Statements of Operations Trend Schedule
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit B:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net Income Per Share Trend Schedule
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit C:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Condensed Consolidated Balance Sheets
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit D:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Discontinued Operations
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit E:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Segment Information Three Months Ended March 31, 2015 and Three
            Months Ended March 31, 2014
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibit F:
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Definition of Consolidated Non-GAAP Financial Measure
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit G:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Consolidated Non-GAAP Financial Measure Reconciliations
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit H:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information New Insurance Written
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit I:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Insurance in Force and
            Risk in Force by Product
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit J:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Risk in Force by FICO,
            LTV and Policy Year
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit K:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Pool and Other Risk in
            Force, Risk-to-Capital
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit L:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Claims, Reserves and
            Reserve per Default
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit M:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Default Statistics
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit N:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Mortgage Insurance Supplemental Information Captives, QSR and
            Persistency
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit O:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Mortgage and Real Estate Services Supplemental Information
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="15">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="21" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="21" valign="top">
          <b>Condensed Consolidated Statements of Operations Trend Schedule</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="21" valign="top">
          <b>Exhibit A</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands, except per share amounts)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 1</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 3</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 2</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 1</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Revenues:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>224,595</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          224,293
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          217,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          203,646
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          198,762
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Services revenue</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>30,529</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          34,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          42,243
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net investment income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>17,328</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          16,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          17,143
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          16,663
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          15,318
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net gains on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>16,779</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          17,983
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (6,294
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          25,332
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          42,968
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,432</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,793
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,162
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,739
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,126
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Total revenues</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>290,663</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          295,050
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          272,081
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          247,380
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          258,174
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Expenses:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Provision for losses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>45,028</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          82,867
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          48,942
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          64,648
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          49,626
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Policy acquisition costs</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>7,750</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          6,443
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,240
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          6,746
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          7,017
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>18,451</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19,709
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          23,896
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other operating expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>54,576</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          85,800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          51,225
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          60,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          54,507
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Interest expense</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>24,385</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          24,200
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          23,989
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          22,348
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19,927
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,023</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,354
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,294
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Total expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>153,213</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          224,373
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          155,586
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          154,493
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          131,077
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Pretax income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>137,450</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          70,677
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          116,495
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          92,887
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          127,097
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income tax provision (benefit)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>45,723</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (807,349
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (15,536
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (10,650
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (18,883
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>91,727</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          878,026
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          132,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          103,537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          145,980
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>530</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (449,691
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          21,559
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          71,296
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          56,779
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>92,257</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          428,335
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          153,590
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          174,833
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          202,759
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Diluted net income per share<i>:</i></b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.39</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3.63
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.58
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.68
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (1.85
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.09
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.31
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.26
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.39</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1.78
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.67
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.78
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.94
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>On April 1, 2015, Radian Guaranty completed the previously disclosed
      sale of 100% of the issued and outstanding shares of Radian Asset
      Assurance to Assured, pursuant to the Radian Asset Assurance Stock
      Purchase Agreement dated as of December 22, 2014. As a result, until the
      April 1, 2015 sale date, the operating results of Radian Asset Assurance
      continue to be classified as discontinued operations for all periods
      presented in our condensed consolidated statements of operations. Prior
      periods have been revised to conform to the current period presentation
      for these changes.</b>
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="14">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="20" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="20" valign="top">
          <b>Net Income Per Share Trend Schedule</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="20" valign="top">
          <b>Exhibit B</b>
        </td>
      </tr>
      <tr>
        <td colspan="20">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="20" valign="top">
          <b>The calculation of basic and diluted net income per share was as
          follows:</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="14">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="14" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands, except per share amounts)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 1</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 3</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 2</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>Qtr 1</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income from continuing operations:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Net income from continuing operations&#8212;basic</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>91,727</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          878,026
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          132,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          103,537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          145,980
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Adjustment for dilutive Convertible Senior Notes due 2019, net of
          tax (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,673</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,641
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,552
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,503
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,455
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 30.0px" valign="bottom">
          <b>Net income from continuing operations&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>95,400</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          881,667
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          137,583
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          109,040
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          151,435
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Net income from continuing operations&#8212;basic</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>91,727</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          878,026
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          132,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          103,537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          145,980
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>530</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (449,691
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          21,559
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          71,296
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          56,779
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Net income&#8212;basic</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>92,257</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          428,335
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          153,590
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          174,833
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          202,759
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Adjustment for dilutive Convertible Senior Notes due 2019, net
            of tax (1)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,673</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,641
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,552
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,503
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,455
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 30.0px" valign="bottom">
          <b>Net income&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>95,930</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          431,976
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          159,142
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          180,336
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          208,214
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Average common shares outstanding&#8212;basic</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>191,224</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          191,053
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          191,050
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          182,583
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          173,165
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2017</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>10,886</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          10,590
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          6,342
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          7,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          9,003
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2019</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>37,736</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37,736
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37,736
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37,736
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37,736
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Dilutive effect of stock-based compensation arrangements (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,202</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,422
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,939
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,861
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,764
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted average common shares outstanding&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>243,048</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          242,801
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          238,067
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          230,779
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          222,668
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Net income per share:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Basic:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.48</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.59
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.69
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.84
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (2.35
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.39
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.33
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.48</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          2.24
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.80
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.96
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1.17
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Diluted:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.39</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3.63
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.58
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          0.68
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (1.85
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.09
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.31
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.26
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.39</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1.78
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.67
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.78
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.94
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>As applicable, includes coupon interest, amortization of
            discount and fees, and other changes in income or loss that would
            result from the assumed conversion.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>For the three months ended March 31, 2015, December 31, 2014,
            September 31, 2014, June 30, 2014 and March 31, 2014, 540,400
            541,720, 557,240, 1,483,800 and 946,400 shares, respectively, of
            our common stock equivalents issued under our stock-based
            compensation arrangements were not included in the calculation of
            diluted net income per share because they were anti-dilutive.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="8" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="8" valign="top">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="8" valign="top">
          <b>Exhibit C</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands, except per share data)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Assets:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Investments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,621,646</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3,629,299
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Cash</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>57,204</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          30,465
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Restricted cash</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>14,220</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          14,031
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Accounts and notes receivable</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>64,405</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          85,792
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Deferred income taxes, net</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>649,996</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          700,201
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Goodwill and other intangible assets, net</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>293,798</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          288,240
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>356,713</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          375,491
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Assets held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,755,873</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,736,444
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,813,855</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          6,859,963
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Liabilities and stockholders&#8217; equity:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>657,555</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          644,504
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Reserve for losses and loss adjustment expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,384,714</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,560,032
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Long-term debt</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,218,972</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,209,926
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other liabilities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>310,642</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          326,743
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Liabilities held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>966,078</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          947,008
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,537,961</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,688,213
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Equity component of currently redeemable convertible senior notes</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>68,982</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          74,690
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Common stock</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>209</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          209
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Additional paid-in capital</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,648,436</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,638,552
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Retained earnings</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>498,593</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          406,814
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Accumulated other comprehensive income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>59,674</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          51,485
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total common stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2,206,912</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,097,060
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total liabilities and stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,813,855</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          6,859,963
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Shares outstanding, end of period</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>191,416</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          191,054
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Book value per share</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>11.53</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          10.98
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Discontinued Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit D</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      The income from discontinued operations, net of tax consisted of the
      following components for the periods indicated:
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums earned</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,007</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          6,903
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net investment income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>9,153</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          8,911
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net gains on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>13,668</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          22,182
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Change in fair value of derivative instruments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2,625</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          50,086
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 40.0px" valign="bottom">
          <b>Total revenues</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>26,453</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          88,082
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Provision for losses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>502</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,649
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Policy acquisition costs</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(191</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,597
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other operating expense</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,107</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,402
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 40.0px" valign="bottom">
          <b>Total expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,418</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          12,648
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Equity in net loss of affiliates</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(13</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (13
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income from operations of businesses held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>22,022</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          75,421
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Loss on classification as held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(13,930</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income tax provision</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>7,562</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          18,642
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Income from discontinued operations, net of tax</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>530</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          56,779
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      The assets and liabilities associated with the discontinued operations
      have been segregated in the condensed consolidated balance sheets. The
      following table summarizes the major components of Radian Asset
      Assurance&#8217;s assets and liabilities held for sale on the condensed
      consolidated balance sheets as of March&#160;31, 2015 and December&#160;31, 2014:
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Fixed-maturity investments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>226,334</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          224,552
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Equity securities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,019</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,749
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Trading securities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>679,972</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          689,887
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Short-term investments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>449,391</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          435,413
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Other invested assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>108,080</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          108,206
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Other assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>288,077</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          274,637
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 50.0px" valign="bottom">
          <b>Total assets held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,755,873</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1,736,444
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>152,445</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          158,921
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Reserve for losses and loss adjustment expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>32,420</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          31,558
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>VIE debt</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>82,238</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          85,016
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Derivative liabilities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>187,462</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          183,370
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Other liabilities</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>511,513</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          488,143
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 50.0px" valign="bottom">
          <b>Total liabilities held for sale</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>966,078</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          947,008
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Segment Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit E (page 1 of 2)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Summarized financial information concerning our operating segments and
      reconciliations to consolidated pretax income from continuing
      operations, as of and for the periods indicated, is as follows:
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="11">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="11" valign="bottom">
          <b>Three Months Ended March 31, 2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3">

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage and</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Real Estate</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Insurance</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Services</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums written - insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>$241,908</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>$</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>241,908</b>
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Increase in unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(17,313</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>(17,313</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>224,595</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>224,595</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Services revenue</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>30,742</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>30,742</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net investment income (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>17,328</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>17,328</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other income (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,331</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>790</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,121</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Total (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>243,254</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>31,532</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>274,786</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Provision for losses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>45,851</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>45,851</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Policy acquisition costs</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>7,750</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7,750</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>18,451</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>18,451</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other operating expenses before corporate allocations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>34,050</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,659</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,709</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 20.0px" valign="bottom">
          <b>Total (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>87,651</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>28,110</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>115,761</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted pretax operating income before corporate allocations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>155,603</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,422</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>159,025</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Allocation of corporate operating expenses (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>9,758</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>981</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>10,739</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Allocation of interest expense (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>19,953</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4,432</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>24,385</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted pretax operating income (loss)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>$125,892</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>(1,991</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>123,901</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="11" valign="bottom">
          <b>At March 31, 2015</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3">

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage and</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Real Estate</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Insurance</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Services</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Cash &amp; Investments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,669,413</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,437</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>$</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,678,850</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Restricted cash</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>11,348</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,872</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>14,220</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Goodwill</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>194,246</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>194,246</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other intangible assets, net</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>99,552</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>99,552</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Assets held for sale (4)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,755,873</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,708,744</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>349,238</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,813,855</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>657,555</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>657,555</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Reserve for losses and loss adjustment expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,384,714</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,384,714</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes certain corporate income and expenses that have been
            reallocated from our prior financial guaranty segment to the
            Mortgage Insurance segment and that were not reclassified to
            discontinued operations.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes inter-segment revenues of $0.9 million in the Mortgage
            and Real Estate Services segment.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes inter-segment expenses of $0.9 million in the Mortgage
            Insurance segment.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Assets held for sale are not part of the Mortgage Insurance or
            Mortgage and Real Estate Services segments.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="11">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="13" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="13" valign="top">
          <b>Segment Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="13" valign="top">
          <b>Exhibit E (page 2 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="11" valign="bottom">
          <b>Three Months Ended March 31, 2014</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage and</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Real Estate</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Insurance</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Services (1)</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums written - insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          212,953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          212,953
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Increase in unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (14,191
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (14,191
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          198,762
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          198,762
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net investment income (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          15,318
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          15,318
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other income (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          996
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          130
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,126
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          215,076
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          130
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          215,206
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Provision for losses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          49,626
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          49,626
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Change in expected economic loss or recovery for consolidated VIEs</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          139
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          139
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Policy acquisition costs</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          7,017
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          7,017
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Other operating expenses before corporate allocations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37,764
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          859
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          38,623
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 20.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          94,546
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          859
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          95,405
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted pretax operating income (loss) before corporate
          allocations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          120,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (729
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          119,801
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Allocation of corporate operating expenses (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          15,884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          15,884
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Allocation of interest expense (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19,927
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19,927
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted pretax operating income (loss)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          84,719
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          (729
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          83,990
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="11" valign="bottom">
          <b>At March 31, 2014</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage and</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Mortgage</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Real Estate</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Insurance</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Services</b>
        </td>
        <td style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Cash and investments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3,302,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          24
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3,302,787
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Restricted cash</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          22,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          22,366
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Goodwill</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,095
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,095
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Intangible assets, net</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          188
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Assets held for sale (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,795,185
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,731,139
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,661
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,528,985
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Unearned premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          580,453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          580,453
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Reserve for losses and loss adjustment expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,893,960
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,893,960
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Amounts do not include Clayton Holdings, acquired June 30,
            2014. However, effective with the fourth quarter of 2014, the
            Mortgage and Real Estate Services segment undertook the management
            responsibilities of certain additional loan servicer surveillance
            functions previously considered part of the Mortgage Insurance
            segment. As a result, these activities are now reported in the
            Mortgage and Real Estate Services segment for all periods presented</b>.
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes certain corporate income and expenses that have been
            reallocated from our prior financial guaranty segment to the
            Mortgage Insurance segment and that were not reclassified to
            discontinued operations.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Assets held for sale are not part of the Mortgage Insurance or
            Mortgage and Real Estate Services segments.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Definition of Consolidated Non-GAAP Financial Measure</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit F (page 1 of 2)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>Use of Non-GAAP Financial Measure</i>
    </p>
    <p>
      In addition to the traditional GAAP financial measures, we have
      presented non-GAAP financial measures for the consolidated company,
      &#8220;adjusted pretax operating income (loss)&#8221; and &quot;adjusted diluted net
      operating income (loss) per share,&quot; among our key performance indicators
      to evaluate our fundamental financial performance. These non-GAAP
      financial measures align with the way the Company&#8217;s business performance
      is evaluated by both management and the board of directors. These
      measures have been established in order to increase transparency for the
      purposes of evaluating our core operating trends and enabling more
      meaningful comparisons with our peers. Although on a consolidated basis
      &#8220;adjusted pretax operating income (loss)&#8221; and adjusted diluted net
      operating income (loss) per share&quot; are non-GAAP financial measures, we
      believe these measures aid in understanding the underlying performance
      of our operations. Our senior management, including our Chief Executive
      Officer (the Company&#8217;s chief operating decision maker), uses adjusted
      pretax operating income (loss) as our primary measure to evaluate the
      fundamental financial performance of the Company&#8217;s business segments and
      to allocate resources to the segments.
    </p>
    <p>
      Adjusted pretax operating income (loss) is defined as GAAP pretax income
      (loss) from continuing operations excluding the effects of net gains
      (losses) on investments and other financial instruments,
      acquisition-related expenses, amortization and impairment of intangible
      assets and net impairment losses recognized in earnings. Adjusted
      diluted net operating income (loss) per share is calculated by dividing
      (i) adjusted pretax operating income (loss) attributable to common
      shareholders, net of taxes computed using the period's effective tax
      rate, by (ii) the sum of the weighted average number of common shares
      outstanding and all dilutive potential common shares outstanding.
      Interest expense on convertible debt, share dilution from convertible
      debt and the impact of stock-based compensation arrangements have been
      reflected in the per share calculations consistent with the accounting
      standard regarding earnings per share, whenever the impact is dilutive.
    </p>
    <p>
      Although adjusted pretax operating income (loss) excludes certain items
      that have occurred in the past and are expected to occur in the future,
      the excluded items represent those that are: (1) not viewed as part of
      the operating performance of our primary activities; or (2) not expected
      to result in an economic impact equal to the amount reflected in pretax
      income (loss) from continuing operations. These adjustments, along with
      the reasons for their treatment, are described below.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          (1)
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Net gains (losses) on investments and other financial
            instruments. </i>The recognition of realized investment gains or
            losses can vary significantly across periods as the activity is
            highly discretionary based on the timing of individual securities
            sales due to such factors as market opportunities, our tax and
            capital profile and overall market cycles. Unrealized investment
            gains and losses arise primarily from changes in the market value
            of our investments that are classified as trading. These valuation
            adjustments may not necessarily result in economic gains or
            losses. We do not view them to be indicative of our fundamental
            operating activities. Trends in the profitability of our
            fundamental operating activities can be more clearly identified
            without the fluctuations of these realized and unrealized gains or
            losses. Therefore, these items are excluded from our calculation
            of adjusted pretax operating income (loss). However, we include
            the change in expected economic loss or recovery associated with
            our consolidated VIEs, if any, in the calculation of adjusted
            pretax operating income (loss).
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          (2)
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Acquisition-related expenses. </i>Acquisition-related expenses
            represent the costs incurred to effect an acquisition of a
            business (i.e., a business combination). Because we pursue
            acquisitions on a strategic and selective basis and not in the
            ordinary course of our business, we do not view
            acquisition-related expenses as a consequence of a primary
            business activity. Therefore, we do not consider these expenses to
            be part of our operating performance and they are excluded from
            our calculation of adjusted pretax operating income (loss).
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Definition of Consolidated Non-GAAP Financial Measure</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit F (page 2 of 2)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (3)
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Amortization and impairment of intangible assets. </i>Amortization
            of intangible assets represents the periodic expense required to
            amortize the cost of intangible assets over their estimated useful
            lives. Intangible assets with an indefinite useful life are also
            periodically reviewed for potential impairment, and impairment
            adjustments are made whenever appropriate. These charges are not
            viewed as part of the operating performance of our primary
            activities and therefore are excluded from our calculation of
            adjusted pretax operating income (loss).
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (4)
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Net impairment losses recognized in earnings. </i>The
            recognition of net impairment losses on investments can vary
            significantly in both size and timing, depending on market credit
            cycles. We do not view these impairment losses to be indicative of
            our fundamental operating activities. Therefore, whenever these
            losses occur, we exclude them from our calculation of adjusted
            pretax operating income (loss).
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      See Exhibit G for the reconciliation of our non-GAAP financial measures
      for the consolidated company, adjusted pretax operating income and
      adjusted diluted net operating income per share, to the most comparable
      GAAP measures, pretax income from continuing operations and net income
      per share from continuing operations, respectively.
    </p>
    <p>
      Total adjusted pretax operating income (loss) and adjusted diluted net
      operating income (loss) per share are not measures of total
      profitability, and therefore should not be viewed as substitutes for
      GAAP pretax income (loss) from continuing operations or net income
      (loss) per share from continuing operations. Our definitions of adjusted
      pretax operating income (loss) and adjusted diluted net operating income
      (loss) per share may not be comparable to similarly-named measures
      reported by other companies.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Consolidated Non-GAAP Financial Measure Reconciliations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit G</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Reconciliation of Adjusted Pretax Operating Income (Loss) to
            Consolidated Pretax Income from Continuing Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted pretax operating income (loss):</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Mortgage Insurance (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>125,892</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          84,719
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Mortgage and Real Estate Services (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(1,991</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (729
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>123,901</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          83,990
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net gains on investments and other financial instruments (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>16,779</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          43,107
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Acquisition-related expenses (4)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(207</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Amortization and impairment of intangible assets (4)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(3,023</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Consolidated pretax income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>137,450</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          127,097
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes certain corporate income and expenses that have been
            reallocated from our prior financial guaranty segment to the
            Mortgage Insurance segment and that were not reclassified to
            discontinued operations.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes the acquisition of Clayton Holdings, effective June
            30, 2014. Also, effective with the fourth quarter of 2014, the
            Mortgage and Real Estate Services segment undertook the management
            responsibilities of certain additional loan servicer surveillance
            functions previously considered part of the Mortgage Insurance
            segment. As a result, these activities are now reported in the
            Mortgage and Real Estate Services segment for all periods
            presented.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>The change in expected economic loss or recovery associated
            with our consolidated VIEs is included in adjusted pretax
            operating income above. Therefore, for purposes of this
            reconciliation, net gains on investments and other financial
            instruments has been adjusted by $0.1 million for the three months
            ended March 31, 2014, to reverse this item, which represents a
            non-GAAP amount that is not included in net income.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Please see Exhibit F for the definition of this line item.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="5" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Reconciliation of Adjusted Diluted Net Operating Income Per
            Share to Net Income Per Share from Continuing Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="bottom">
          <b>March 31, 2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Adjusted diluted net operating income per share</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.35</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>After tax per share impact:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net gains on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>0.05</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Acquisition-related expenses</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(0.01</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net income per share from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.39</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      On a consolidated basis, &#8220;adjusted pretax operating income&#8221; and
      &quot;adjusted diluted net operating income per share&quot; are measures not
      determined in accordance with GAAP. These measures are not
      representative of total profitability, and therefore should not be
      viewed as substitutes for GAAP pretax income from continuing operations
      or net income per share from continuing operations. Our definitions of
      adjusted pretax operating income and adjusted diluted net operating
      income per share may not be comparable to similarly-named measures
      reported by other companies. See Exhibit F for additional information on
      our consolidated non-GAAP financial measures.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Exhibit H</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="13">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="13" valign="bottom">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="13" valign="bottom">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>($ in millions)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          $
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Primary new insurance written</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,384</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          6,807
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Alt-A and A minus and below</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,385</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          6,808
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Total primary new insurance written by FICO score</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>5,968</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>63.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,345
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          63.8
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;680-739</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2,845</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>30.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,041
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          30.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;620-679</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>572</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          422
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          6.2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,385</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          6,808
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Percentage of primary new insurance written</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Monthly premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>63</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          73
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Single premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>37</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          27
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Refinances</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>33</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          18
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>LTV</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>95.01% and above</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1.8</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          0.9
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>90.01% to 95.00%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>48.4</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          51.8
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>85.01% to 90.00%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>33.3</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          34.4
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>85.00% and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>16.5</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          12.9
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>Exhibit I</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          March 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>($ in millions)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          $
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Primary insurance in force (1)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Flow</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>162,832</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>94.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          152,731
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          94.1
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Structured</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>9,309</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>5.4</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          9,637
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          5.9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>172,141</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          162,368
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>160,452</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>93.2</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          148,736
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          91.6
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>7,122</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4.1</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          8,317
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,567</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,315
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          3.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>172,141</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          162,368
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Primary risk in force (1)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Flow</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>41,256</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>95.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          38,252
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          94.6
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Structured</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2,133</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,180
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          5.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,389</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          40,432
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Flow</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>39,251</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>95.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          35,867
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          93.8
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,243</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,474
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>762</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          911
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          2.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Flow</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>41,256</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          38,252
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Structured</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,341</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>62.9</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,292
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          59.3
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>410</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>19.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          465
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          21.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>382</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>17.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          423
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          19.4
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Structured</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,133</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          2,180
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>40,592</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>93.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          37,159
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          91.9
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,939
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,144</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2.6</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,334
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          3.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,389</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          40,432
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Includes amounts ceded under our reinsurance agreements, as
            well as amounts related to the Freddie Mac Agreement.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="bottom">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="bottom">
          <b>Exhibit J</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="8">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          March 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>($ in millions)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          $
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Total primary risk in force by FICO score</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Flow</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>23,964</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>58.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          21,976
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          57.4
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>680-739</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>12,356</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>30.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          11,158
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          29.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>620-679</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,392</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>10.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,459
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          11.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&lt;=619</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>544</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          659
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Flow</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>41,256</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          38,252
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Structured</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>664</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>31.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          590
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          27.1
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>680-739</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>599</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>28.1</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          28.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>620-679</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>513</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>24.1</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          572
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          26.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&lt;=619</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>357</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>16.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          394
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          18.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Structured</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,133</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          2,180
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>24,628</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>56.8</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          22,566
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          55.8
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>680-739</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>12,955</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>29.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          11,782
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          29.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>620-679</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,905</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>11.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          12.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>&lt;=619</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>901</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,053
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          2.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,389</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          40,432
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Total primary risk in force by LTV</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>95.01% and above</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,440</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7.9</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4,008
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          9.9
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>90.01% to 95.00%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>20,897</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>48.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          17,767
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          44.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>85.01% to 90.00%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>15,187</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>35.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          14,807
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          36.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>85.00% and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,865</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>8.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,850
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          9.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,389</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          40,432
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Total primary risk in force by policy year</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>2005 and prior</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3,364</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7.8</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4,209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          10.4
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2006</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,922</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4.4</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,243
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2007</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>4,442</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>10.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,064
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          12.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2008</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,267</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3,810
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          9.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2009</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>994</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2010</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>859</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,144
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          2.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2011</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,677</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2,165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2012</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>6,170</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>14.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          7,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          18.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2013</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>9,704</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>22.4</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          11,210
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          27.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2014</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>8,684</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>20.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2015</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2,306</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>5.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>43,389</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          40,432
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Primary risk in force on defaulted loans (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,883</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          2,466
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Excludes risk related to loans subject to the Freddie Mac
            Agreement.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <b>Exhibit K</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="4">

        </td>
        <td colspan="4">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          March 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>($ in millions)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="4" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          $
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Pool risk in force</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>867</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>74.7</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          78.9
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>54</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4.7</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          68
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>239</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>20.6</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          269
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          16.8
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,160</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1,600
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Total pool risk in force by policy year</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2005 and prior</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,090</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>94.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,516
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          94.7
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2006</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>7</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2007</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>62</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>5.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>&#160;&#160;2008</b>
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>0.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          0.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total pool risk in force</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,160</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1,600
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          100.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Other risk in force</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Second-lien</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          <b>1st loss</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>42</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          54
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          <b>2nd loss</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>12</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          16
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>NIMS</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>1st loss-Hong Kong primary mortgage insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          18
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total other risk in force</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>63</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          93
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Risk to capital ratio-Radian Guaranty only</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>17.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>:1</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          19.2
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Risk to capital ratio-Mortgage Insurance combined</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>19.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>:1</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          23.0
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="8" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="4" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2014
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="4">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Loss ratio (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>20.4</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="3" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            25.0
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Expense ratio - NPE basis (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>23.0</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="3" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            30.5
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Expense ratio - NPW basis (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>21.3</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="3" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            28.5
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Preliminary.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Calculated on a GAAP basis using net premiums earned (&#8220;NPE&#8221;).
            For the three months ended March 31, 2015 and 2014, the expense
            ratio includes 0.9% and 2.1%, respectively, of expenses that were
            previously allocated to the Financial Guaranty segment, because
            these corporate items were not reclassified to discontinued
            operations. These expenses have been reallocated to the Mortgage
            Insurance segment.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Calculated on a GAAP basis using net premiums written (&#8220;NPW&#8221;).
            For the three months ended March 31, 2015 and 2014, includes 0.9%
            and 1.9%, respectively, of expenses that were previously allocated
            to the Financial Guaranty segment, because these corporate items
            were not reclassified to discontinued operations. These expenses
            have been reallocated to the Mortgage Insurance segment.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Exhibit L</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Three Months Ended</b><br><b>March 31,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>($ in thousands)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Net claims paid</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>76,434</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          195,446
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>20,194</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          46,593
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>15,209</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          33,593
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total primary claims paid</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>111,837</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          275,632
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Pool</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>8,901</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          30,863
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Second-lien and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(111</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          727
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Subtotal</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>120,627</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          307,222
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Impact of captive terminations</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(12,000</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          (1,156
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Impact of settlements</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>98,468</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          875
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>207,095</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          306,941
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Average claim paid (1)</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>44.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          44.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>54.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          55.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>35.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          37.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total primary average claims paid</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>44.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          44.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Pool</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>51.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          60.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Second-lien and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>(12.3</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          20.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>44.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          45.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Average primary claim paid (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>45.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          46.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Average total claim paid (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>45.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          47.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Reserve for losses by category</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>640,919</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          790,529
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>278,350</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          351,695
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>163,390</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          189,453
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>IBNR and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>167,204</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          347,674
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>LAE</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>53,210</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          50,684
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Reinsurance recoverable (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>13,365</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          25,751
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total primary reserves</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,316,438</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,755,786
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Pool insurance</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>62,943</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          123,596
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>IBNR and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,227</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          5,679
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>LAE</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3,051</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,517
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total pool reserves</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>67,221</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          133,792
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total 1st lien reserves</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,383,659</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1,889,578
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Second lien and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1,055</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          4,382
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total reserves</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,384,714</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          1,893,960
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>1st lien reserve per default (4)</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Primary reserve per primary default excluding IBNR and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>28,423</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>26,509</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Pool reserve per pool default excluding IBNR and other</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>9,774</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>13,054</b>
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Net of reinsurance recoveries and without giving effect to the
            impact of captive terminations and settlements.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Before reinsurance recoveries and without giving effect to the
            impact of captive terminations and settlements.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Primarily represents ceded losses on captive transactions and
            quota share reinsurance transactions.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>If calculated before giving effect to deductibles and stop
            losses in pool transactions, this would be $17,942 and $22,172 at
            March 31, 2015 and 2014, respectively.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="10" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="10" valign="top">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="10" valign="top">
          <b>Exhibit M</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          December 31,
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          March 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Default Statistics</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Primary Insurance:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Prime</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>801,332</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          797,436
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          755,396
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>25,114</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          28,246
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          32,708
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>3.13</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3.54
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          4.33
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Alt-A</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>37,468</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          38,953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          43,508
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7,480</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          8,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          10,173
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>19.96</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          20.89
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          23.38
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>A minus and below</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>35,425</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          36,688
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          40,898
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>7,846</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          8,937
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          10,238
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>22.15</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          24.36
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          25.03
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>874,225</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          873,077
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          839,802
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Number of loans in default (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>40,440</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          45,319
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          53,119
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4.63</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5.19
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          6.33
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Pool insurance</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,748</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          8,297
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          9,814
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Excludes 3,715, 4,467 and 6,022 loans subject to the Freddie
            Mac Agreement that are in default at March 31, 2015, December 31,
            2014 and March 31, 2014, respectively, as we no longer have claims
            exposure on these loans.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Mortgage Insurance Supplemental Information</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="9" valign="top">
          <b>Exhibit N</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>Three Months Ended</b><br><b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>($ in thousands)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>1st Lien Captives</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Premiums ceded to captives</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,585</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          3,508
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>% of total premiums</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1.1</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          1.6
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Insurance in force included in captives (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2.5</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3.5
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Risk in force included in captives (1)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2.4</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3.3
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Initial Quota Share Reinsurance (&#8220;QSR&#8221;) Transaction</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>QSR ceded premiums written</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>4,067</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          5,304
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>% of premiums written</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>1.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          2.3
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>QSR ceded premiums earned</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          6,807
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>% of premiums earned</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2.5</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3.2
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Ceding commissions</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>880</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,326
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Risk in force included in QSR (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,041,383</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,289,856
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Second QSR Transaction</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>QSR ceded premiums written</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>6,529</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          7,293
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>% of premiums written</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>2.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3.2
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>QSR ceded premiums earned</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>8,768</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          6,585
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>% of premiums earned</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>3.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          3.1
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Ceding commissions</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>2,285</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          2,553
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Risk in force included in QSR (2)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>1,533,677</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          1,360,651
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Persistency (twelve months ended March 31) (3)</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>82.6</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          83.3
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian reinsures the middle layer risk positions, while
            retaining a significant portion of the total risk comprising the
            first loss and most remote risk positions.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Included in primary RIF.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Effective March 31, 2015, we refined our persistency
            calculation to incorporate loan level detail rather than
            aggregated portfolio data. Prior periods have been recalculated
            and reflect the current calculation methodology.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Mortgage and Real Estate Services Supplemental Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Exhibit O</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          The following table shows additional trend information for the
          Mortgage and Real Estate Services segment:
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Three Months Ended</b><br><b>March 31, 2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Three Months Ended</b><br><b>December 31, 2014</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Three Months Ended</b><br><b>September 30, 2014</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Services revenue</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>30,742</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>34,466</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>$</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>42,243</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>18,451</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>19,709</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>23,896</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Gross profit on services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>12,291</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>14,757</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>$</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>18,347</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      The selected unaudited financial information presented below represents
      unaudited quarterly historical information for the businesses of Clayton
      Holdings LLC (&#8220;Clayton&#8221;) for periods prior to our acquisition on June
      30, 2014. Financial information for periods after the acquisition is
      included in the table above and in Exhibit E as part of our Mortgage and
      Real Estate Services segment.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="15">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="15" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="6" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 1</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 2</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 3</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3" valign="bottom">
          <b>Qtr 1</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>Qtr 2</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Services revenue</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>37,041</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>39,115</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>32,718</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>25,593</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>28,043</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>36,347</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>20,173</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>22,028</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>18,015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>14,957</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>15,469</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>19,956</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 10.0px" valign="bottom">
          <b>Gross profit on services</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>16,868</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>17,087</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>14,703</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>10,636</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px" valign="bottom">
          <b>12,574</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
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          <b>16,391</b>
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          &#160;
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    <p>
      <b>FORWARD-LOOKING STATEMENTS</b>
    </p>
    <p>
      All statements in this report that address events, developments or
      results that we expect or anticipate may occur in the future are
      &quot;forward-looking statements&quot; within the meaning of Section 27A of the
      Securities Act of 1933, Section 21E of the Exchange Act and the U.S.
      Private Securities Litigation Reform Act of 1995. In most cases,
      forward-looking statements may be identified by words such as
      &quot;anticipate,&quot; &quot;may,&quot; &quot;will,&quot; &quot;could,&quot; &quot;should,&quot; &quot;would,&quot; &quot;expect,&quot;
      &quot;intend,&quot; &quot;plan,&quot; &quot;goal,&quot; &quot;contemplate,&quot; &quot;believe,&quot; &quot;estimate,&quot;
      &quot;predict,&quot; &quot;project,&quot; &quot;potential,&quot; &quot;continue,&quot; &quot;seek,&quot; &quot;strategy,&quot;
      &quot;future,&quot; &quot;likely&quot; or the negative or other variations on these words
      and other similar expressions. These statements, which may include,
      without limitation, projections regarding our future performance and
      financial condition, are made on the basis of management's current views
      and assumptions with respect to future events. Any forward-looking
      statement is not a guarantee of future performance and actual results
      could differ materially from those contained in the forward-looking
      statement. These statements speak only as of the date they were made,
      and we undertake no obligation to update or revise any forward-looking
      statements, whether as a result of new information, future events or
      otherwise. We operate in a changing environment. New risks emerge from
      time to time and it is not possible for us to predict all risks that may
      affect us. The forward-looking statements, as well as our prospects as a
      whole, are subject to risks and uncertainties that could cause actual
      results to differ materially from those set forth in the forward-looking
      statements including:
    </p>
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    <ul>
      <li style="margin-bottom: 10.0px">
        changes in general economic and political conditions, including
        unemployment rates, changes in the U.S. housing and mortgage credit
        markets (including declines in home prices and property values), the
        performance of the U.S. or global economies, the amount of liquidity
        in the capital or credit markets, changes or volatility in interest
        rates or consumer confidence and changes in credit spreads, all of
        which may be impacted by, among other things, legislative activity or
        inactivity, actual or threatened downgrades of U.S. government credit
        ratings, or actual or threatened defaults on U.S. government
        obligations;
      </li>
      <li style="margin-bottom: 10.0px">
        changes in the way customers, investors, regulators or legislators
        perceive the strength of private mortgage insurers;
      </li>
      <li style="margin-bottom: 10.0px">
        catastrophic events, increased unemployment, home price depreciation
        or other negative economic changes in geographic regions where our
        mortgage insurance exposure is more concentrated;
      </li>
      <li style="margin-bottom: 10.0px">
        Radian Guaranty's ability to remain eligible under applicable
        requirements imposed by the Federal Housing Finance Agency and the
        government-sponsored entities (&quot;GSEs&quot;) to insure loans purchased by
        the GSEs;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to maintain sufficient holding company liquidity to meet
        our short- and long-term liquidity needs. We expect to contribute a
        portion of our holding company liquidity to Radian Guaranty to support
        Radian Guaranty's compliance with the final PMIERs financial
        requirements. Our projections regarding the amount of holding company
        liquidity that we may contribute to Radian Guaranty are based on our
        estimates of Radian Guaranty's Minimum Required Assets (as defined
        under the PMIERs) and Available Assets (as defined under the PMIERs),
        which may not prove to be accurate, and which could be impacted by:
        (1) our ability to receive GSE approval for the full benefit of our
        existing reinsurance arrangements under the PMIERs after any necessary
        amendments to these arrangements, (2) whether we elect to convert
        certain liquid assets into PMIERs compliant Available Assets; (3)
        factors affecting the performance of our mortgage insurance business,
        including our level of defaults, the losses we incur on new or
        existing defaults and the credit characteristics of new business that
        we write; and (4) the GSEs' intention to update the factors that are
        applied to calculate and determine a mortgage insurer's Minimum
        Required Assets every two years or more frequently, as determined by
        the GSEs, to reflect changes in macroeconomic conditions or loan
        performance. Contributing holding company cash and investments from
        Radian Group to Radian Guaranty will leave less liquidity to satisfy
        Radian Group's future obligations. Depending on the amount of holding
        company contributions that we make, we may be required or may decide
        to seek additional capital by incurring additional debt, by issuing
        additional equity, or by selling assets, which we may not be able to
        do on favorable terms, if at all;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to maintain an adequate level of capital in our insurance
        subsidiaries to satisfy existing and future state regulatory
        requirements, including new capital adequacy standards that currently
        are being developed by the National Association of Insurance
        Commissioners (&quot;NAIC&quot;) and that could be adopted by certain states in
        which we write conduct business;
      </li>
      <li style="margin-bottom: 10.0px">
        changes in the charters or business practices of, or rules or
        regulations imposed by or applicable to the GSEs, including: (1) the
        implementation of the final PMIERs, which (i) will increase the amount
        of capital that Radian Guaranty is required to hold, and therefore,
        reduce our current returns on subsidiary capital; (ii) impose
        extensive and more stringent operational requirements in areas such as
        claim processing, loss mitigation, document retention, underwriting,
        quality control, reporting and monitoring, among others that may
        result in additional costs in order to achieve and maintain
        compliance; (iii) require the consent of the GSEs for Radian Guaranty
        to take certain actions such as paying dividends, entering into
        various inter-company agreements, and commuting or reinsuring risk,
        among others; (2) changes that could limit the type of business that
        Radian Guaranty and other private mortgage insurers are willing to
        write, which could reduce our NIW; (3) changes that could increase the
        cost of private mortgage insurance, including as compared to the
        Federal Housing Administration's (&quot;FHA&quot;) pricing, or result in the
        emergence of other forms of credit enhancement; and (4) changes that
        could require us to alter our business practices, which may result in
        substantial additional costs in order to achieve and maintain
        compliance with the PMIERs;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to continue to effectively mitigate our mortgage insurance
        losses, including a decrease in net rescissions, denials or
        curtailments resulting from an increase in the number of successful
        challenges to previously rescinded policies, claim denials or claim
        curtailments (including as part of one or more settlements of disputed
        rescissions or denials), or as a result of the GSEs intervening in or
        otherwise limiting our loss mitigation practices, including
        settlements of disputes regarding loss mitigation activities;
      </li>
      <li style="margin-bottom: 10.0px">
        the negative impact that our loss mitigation activities may have on
        our relationships with our customers and potential customers,
        including the potential loss of current or future business and the
        heightened risk of disputes and litigation;
      </li>
      <li style="margin-bottom: 10.0px">
        any disruption in the servicing of mortgages covered by our insurance
        policies, as well as poor servicer performance;
      </li>
      <li style="margin-bottom: 10.0px">
        a substantial decrease in the persistency rates of our mortgage
        insurance policies, which has the effect of reducing our premium
        income on our monthly premium policies and could decrease the
        profitability of our mortgage insurance business;
      </li>
      <li style="margin-bottom: 10.0px">
        heightened competition for our mortgage insurance business from others
        such as the FHA, the U.S. Department of Veterans Affairs and other
        private mortgage insurers (including with respect to other private
        mortgage insurers, those that have been assigned higher ratings than
        we have that may have access to greater amounts of capital than we do,
        or that are new entrants to the industry, and therefore, are not
        burdened by legacy obligations) and the impact such heightened
        competition may have on our returns and our NIW;
      </li>
      <li style="margin-bottom: 10.0px">
        changes to the current system of housing finance, including the
        possibility of a new system in which private mortgage insurers are not
        required or their products are significantly limited in effect or
        scope;
      </li>
      <li style="margin-bottom: 10.0px">
        the effect of the Dodd-Frank Wall Street Reform and Consumer
        Protection Act on the financial services industry in general, and on
        our businesses in particular;
      </li>
      <li style="margin-bottom: 10.0px">
        the adoption of new or application of existing federal or state laws
        and regulations, or changes in these laws and regulations or the way
        they are interpreted, including, without limitation: (1) the
        resolution of existing, or the possibility of additional, lawsuits or
        investigations; (2) changes to the Mortgage Guaranty Insurers Model
        Act (&quot;Model Act&quot;) being considered by the NAIC that could include more
        stringent capital and other requirements for Radian Guaranty in states
        that adopt the new Model Act in the future; and (3) legislative and
        regulatory changes (a) impacting the demand for our products, (b)
        limiting or restricting the products we may offer or increasing the
        amount of capital we are required to hold, (c) affecting the form in
        which we execute credit protection, or (d) otherwise impacting our
        existing businesses or future prospects;
      </li>
      <li style="margin-bottom: 10.0px">
        the amount and timing of potential payments or adjustments associated
        with federal or other tax examinations, including deficiencies
        assessed by the IRS resulting from the examination of our 2000 through
        2007 tax years, which we are currently contesting;
      </li>
      <li style="margin-bottom: 10.0px">
        the possibility that we may fail to estimate accurately the
        likelihood, magnitude and timing of losses in connection with
        establishing loss reserves for our mortgage insurance businesses;
      </li>
      <li style="margin-bottom: 10.0px">
        volatility in our results of operations caused by changes in the fair
        value of our assets and liabilities, including a significant portion
        of our investment portfolio and certain of our long-term incentive
        compensation awards;
      </li>
      <li style="margin-bottom: 10.0px">
        changes in generally accepted accounting principles or statutory
        accounting practices, rules and guidance, or their interpretation;
      </li>
      <li style="margin-bottom: 10.0px">
        legal and other limitations on amounts we may receive from our
        subsidiaries as dividends or through our tax- and expense-sharing
        arrangements with our subsidiaries; and
      </li>
      <li style="margin-bottom: 10.0px">
        the possibility that we may need to impair the estimated fair value of
        goodwill established in connection with our acquisition of Clayton,
        the valuation of which requires the use of significant estimates and
        assumptions with respect to the estimated future economic benefits
        arising from certain assets acquired in the transaction such as the
        value of expected future cash flows of Clayton, Clayton's workforce,
        expected synergies with our other affiliates and other unidentifiable
        intangible assets.
      </li>
    </ul>
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    <p>
      For more information regarding these risks and uncertainties as well as
      certain additional risks that we face, you should refer to the Risk
      Factors detailed in Item 1A of Part I of our Annual Report on Form 10-K
      for the year ended December 31, 2014 and in our subsequent reports and
      registration statements filed from time to time with the U.S. Securities
      and Exchange Commission. We caution you not to place undue reliance on
      these forward-looking statements, which are current only as of the date
      on which we issued this press release. We do not intend to, and we
      disclaim any duty or obligation to, update or revise any forward-looking
      statements to reflect new information or future events or for any other
      reason.
    </p>
    <p>
      CONTACT:<br>Radian Group Inc.<br>Emily Riley, 215-231-1035<br><u>emily.riley@radian.biz</u>
    </p>
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