<SEC-DOCUMENT>0001157523-17-000176.txt : 20170126
<SEC-HEADER>0001157523-17-000176.hdr.sgml : 20170126
<ACCEPTANCE-DATETIME>20170126083030
ACCESSION NUMBER:		0001157523-17-000176
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170126
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170126
DATE AS OF CHANGE:		20170126

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:		17548118

	BUSINESS ADDRESS:	
		STREET 1:		1601 MARKET STREET
		STREET 2:		11TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2155646600

	MAIL ADDRESS:	
		STREET 1:		1601 MARKET ST
		STREET 2:		11TH 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>a51499804.htm
<DESCRIPTION>RADIAN GROUP INC. 8-K
<TEXT>
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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-size: 18pt; font-family: Times New Roman"></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="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


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


    <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">January
      26, 2017</font></u></b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


    <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="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


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

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


    <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 cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
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        <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="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>
      On January 26, 2017, Radian Group Inc. issued a news release announcing
      its financial results for the quarter ended December 31, 2016 and the
      full year 2016. 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="font-size: 10pt; margin-left: 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 January 26,
      2017.
    </p>
    <p>
      _____________________<br>Furnished herewith.
    </p>
    <p>

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

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

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          <hr style="height: 1.5pt; color: black">

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

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

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


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

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

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

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

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

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          Date:
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 49%" valign="top">
          January 26, 2017
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 4%" valign="top">
          By:
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: left; width: 41%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;&#160;/s/ J. Franklin Hall
          </p>
        </td>
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        <td style="width: 6%">

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

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

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

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

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

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

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 84%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Radian Group Inc. News Release dated January 26, 2017.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

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

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51499804ex99_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-size: 12pt; font-family: Times New Roman"><b>Radian
      Announces Fourth Quarter and Full Year 2016 Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>-- Fourth
      quarter net income of $61 million, or $0.27 per diluted share; Full year
      net income of $308 million or $1.37 per diluted share &#8211;</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>-- Fourth
      quarter adjusted diluted net operating income per share of $0.41; full
      year of $1.56 &#8211;</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>-- $50.5
      billion in new MI business for 2016; sets all-time company record for
      flow MI &#8211;</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>-- Book
      value per share increases 11% year-over-year to $13.39 &#8211;</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      PHILADELPHIA--(BUSINESS WIRE)--January 26, 2017--Radian Group Inc.
      (NYSE: RDN) today reported net income for the quarter ended December 31,
      2016, of $61.1 million, or $0.27 per diluted share, which included a net
      loss on investments and other financial instruments of $38.8 million.
      Net income for the full year 2016 was $308.3 million, or $1.37 per
      diluted share, which included net gains on investments and other
      financial instruments of $30.8 million. This compares to net income for
      the quarter ended December 31, 2015, of $74.5 million, or $0.32 per
      diluted share, which included a net loss on investments and other
      financial instruments of $13.4 million. Net income for the full year
      2015 was $286.9 million, or $1.22 per diluted share, which included net
      gains on investments and other financial instruments of $35.7 million.
    </p>
    <p>
      Book value per share at December 31, 2016, was $13.39, compared to
      $13.47 at September 30, 2016, and an increase of 11 percent from $12.07
      at December 31, 2015.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <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>
      Key Financial Highlights <i>(dollars in millions, except per share data)</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: left" valign="top">
          <p>

          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Year Ended<br>December 31, 2016
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Year Ended<br>December 31, 2015
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Percent<br>Change
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Net income *
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $308.3
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $286.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Diluted net income per share
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $1.37
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $1.22
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          12%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Pretax income from continuing operations
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $483.7
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $437.8
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          10%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Adjusted pretax operating income
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $541.8
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $510.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          6%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Adjusted diluted net operating income per share **
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $1.56
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $1.40
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          11%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Net premiums earned - insurance
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $921.8
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $915.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          New Mortgage Insurance Written (NIW)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $50,530
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $41,411
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            22%
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Book value per share
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $13.39
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $12.07
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          11%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Quarter Ended<br>December 31, 2016
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Quarter Ended<br>December 31, 2015
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Percent<br>Change
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Net income
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $61.1
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $74.5
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (18%)
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Diluted net income per share
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $0.27
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $0.32
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (16%)
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Pretax income
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $97.8
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $104.7
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (7%)
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Adjusted pretax operating income
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $140.2
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $124.1
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          13%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Adjusted diluted net operating income per share **
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $0.41
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $0.34
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          21%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          Net premiums earned - insurance
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $233.6
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $226.4
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: right" valign="middle">
          New Mortgage Insurance Written (NIW)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $13,882
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $9,099
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            53%
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Includes the significant negative impact of the loss on induced
            conversion and debt extinguishment for both year-end periods</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          **
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Adjusted diluted net operating income per share is calculated
            using the company&#8217;s statutory tax rate of 35 percent.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
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        </div>
      </div>
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        </div>
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          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
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        </div>
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    </div>
    <p>
      Adjusted pretax operating income for the quarter ended December 31,
      2016, was $140.2 million, compared to $124.1 million for the same period
      of 2015. Adjusted diluted net operating income per share for the quarter
      ended December 31, 2016, was $0.41, compared to $0.34 for the same
      period of 2015, an increase of 21 percent. Adjusted pretax operating
      income for the year ended December 31, 2016, was $541.8 million,
      compared to $510.9 million for the same period of 2015. Adjusted diluted
      net operating income per share for the twelve months ended December 31,
      2016, was $1.56, compared to $1.40 for the same period of 2015, an
      increase of 11 percent. See &#8220;Non-GAAP Financial Measures&#8221; below as well
      as Exhibits F and G for additional details regarding these adjusted
      measures.
    </p>
    <p>
      &#8220;Our strong fourth quarter performance contributed to a solid 2016 for
      Radian,&#8221; said Radian&#8217;s Chief Executive Officer S.A. Ibrahim. &#8220;In 2016,
      we successfully grew book value by 11%, improved our capital structure
      and achieved our targeted expense goals, while setting new records for
      writing our highest volume of high-quality and profitable flow MI
      business in Radian&#8217;s history.&#8221;
    </p>
    <p>
      FOURTH QUARTER AND FULL YEAR HIGHLIGHTS
    </p>
    <p>
      <i>Mortgage Insurance</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        New mortgage insurance written (NIW) grew to $50.5 billion for the
        full year 2016, compared to $41.4 billion for the prior year. NIW was
        $13.9 billion for the quarter, compared to $15.7 billion in the third
        quarter of 2016 and $9.1 billion in the prior-year quarter.

        <ul>
          <li style="margin-bottom: 10.0px">
            NIW for the full year 2016 represented record volume written on a
            flow basis for the company, and an increase of 22 percent compared
            to the NIW written for the full year 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            For the fourth quarter of 2016, NIW grew 53 percent compared to
            the fourth quarter of 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Of the $13.9 billion in new business written in the fourth quarter
            of 2016, 27 percent was written with single premiums. Net single
            premiums written, after consideration of the 35 percent ceded
            under the company&#8217;s Single Premium Quota Share Reinsurance
            Agreement, was 17 percent in the fourth quarter of 2016.
          </li>
          <li style="margin-bottom: 10.0px">
            Refinances accounted for 27 percent of total NIW in the fourth
            quarter of 2016, compared to 22 percent in the third quarter of
            2016, and 17 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>
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        </div>
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    </div>
    <ul>
      <li style="margin-bottom: 10.0px">
        <ul>
          <li style="margin-bottom: 10.0px">
            Total primary mortgage insurance in force as of December 31, 2016
            grew to $183.5 billion, compared to $181.2 billion as of September
            30, 2016, and $175.6 billion as of December 31, 2015.
          </li>
        </ul>
      </li>
      <li style="margin-bottom: 10.0px">
        <ul>
          <li style="margin-bottom: 10.0px">
            The composition of Radian&#8217;s mortgage insurance portfolio has
            significantly improved over the past several years:

            <ul>
              <li style="margin-bottom: 10.0px">
                88 percent of primary mortgage insurance risk in force at
                December 31, 2016 consisted of new business written after
                2008, including those loans that successfully completed the
                Home Affordable Refinance Program (HARP).
              </li>
              <li style="margin-bottom: 10.0px">
                58 percent of primary mortgage insurance risk in force at
                December 31, 2016 consisted of loans with FICO scores greater
                than or equal to 740, compared to 26 percent of loans at
                December 31, 2007.
              </li>
              <li style="margin-bottom: 10.0px">
                7 percent of primary mortgage insurance risk in force at
                December 31, 2016 consisted of loans with a loan-to-value
                (LTV) greater than 95 percent, compared to 24 percent of loans
                at December 31, 2007.
              </li>
            </ul>
          </li>
          <li style="margin-bottom: 10.0px">
            Persistency, which is the percentage of mortgage insurance in
            force that remains on the company&#8217;s books after a twelve-month
            period, was 76.7 percent as of December 31, 2016, compared to 78.4
            percent as of September 30, 2016, and 78.8 percent as of December
            31, 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Annualized persistency for the three-months ended December 31,
            2016 was 76.8 percent, compared to 75.3 percent for the
            three-months ended September 30, 2016, and 81.8 percent for the
            three-months ended December 31, 2015.
          </li>
        </ul>
      </li>
      <li style="margin-bottom: 10.0px">
        Total net premiums earned were $233.6 million for the quarter ended
        December 31, 2016, compared to $238.1 million for the quarter ended
        September 30, 2016, and $226.4 million for the quarter ended December
        31, 2015. Notable variable items impacting net premiums earned include:

        <ul>
          <li style="margin-bottom: 10.0px">
            Acceleration of premiums related to Single Premium Policy
            cancellations, which are net of reinsurance, were $15.7 million in
            the fourth quarter, compared to $18.4 million in the third quarter
            of 2016, and $13.5 million in the fourth quarter of 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Ceded premiums of $18.2 million, $19.9 million and $13.0 million
            for the quarters ended December 31, 2016, September 30, 2016, and
            December 31, 2015, respectively, are net of accrued profit
            commission on reinsurance transactions of $8.5 million in the
            fourth quarter of 2016, compared to $8.9 million in the third
            quarter of 2016, and $1.6 million in the fourth quarter of 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Additional details may be found in Exhibit D.
          </li>
        </ul>
      </li>
    </ul>
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        </div>
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        </div>
      </div>
    </div>
    <ul>
      <li style="margin-bottom: 10.0px">
        <ul>
          <li style="margin-bottom: 10.0px">
            The mortgage insurance provision for losses was $54.7 million in
            the fourth quarter of 2016, compared to $56.2 million in the third
            quarter of 2016, and $56.8 million in the fourth quarter of 2015.
          </li>
        </ul>
      </li>
      <li style="margin-bottom: 10.0px">
        <ul>
          <li style="margin-bottom: 10.0px">
            The loss ratio in the fourth quarter of 2016 was 23.4 percent,
            compared to 23.6 percent in the third quarter of 2016 and 25.1
            percent in the fourth quarter of 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Mortgage insurance loss reserves were $760.3 million as of
            December 31, 2016, compared to $821.9 million as of September 30,
            2016, and $976.4 million as of December 31, 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Primary reserve per primary default (excluding IBNR and other
            reserves) was $22,503 as of December 31, 2016. This compares to
            primary reserve per primary default of $24,049 as of September 30,
            2016, and $24,019 as of December 31, 2015.
          </li>
        </ul>
      </li>
      <li style="margin-bottom: 10.0px">
        The total number of primary delinquent loans decreased by 1 percent in
        the fourth quarter from the third quarter of 2016, and by 18 percent
        from the fourth quarter of 2015. The primary mortgage insurance
        delinquency rate decreased to 3.2 percent in the fourth quarter of
        2016, compared to 3.3 percent in the third quarter of 2016, and 4.0
        percent in the fourth quarter of 2015.
      </li>
      <li style="margin-bottom: 10.0px">
        Total mortgage insurance net claims paid were $116.5 million in the
        fourth quarter, compared to $82.7 million in the third quarter, and
        $176.5 million in the fourth quarter of 2015. For the full-year 2016,
        total net claims paid were $417.6 million, compared to $764.7 million
        for the full-year 2015.

        <ul>
          <li style="margin-bottom: 10.0px">
            Claims paid in the fourth quarter of 2016 were elevated due to
            increased efficiencies in the company&#8217;s claims processing, which
            resulted in an acceleration of paid claims and contributed to a 38
            percent decline in the pending claim inventory from the third
            quarter of 2016.
          </li>
          <li style="margin-bottom: 10.0px">
            Claims paid in 2015 included claims related to the September 2014
            BofA Settlement Agreement.
          </li>
        </ul>
      </li>
    </ul>
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        </div>
      </div>
    </div>
    <p>
      <i>Mortgage and Real Estate Services</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        The Services segment provides outsourced services, information-based
        analytics, residential loan due diligence, valuations, surveillance
        and specialty consulting for buyers and sellers of, and investors in,
        mortgage- and real estate-related loans and securities. These services
        and solutions are provided primarily through Clayton and its
        subsidiaries, including Green River Capital, Red Bell Real Estate and
        ValuAmerica.
      </li>
      <li style="margin-bottom: 10.0px">
        Total revenues for the fourth quarter were $52.6 million, an increase
        of 10 percent compared to $48.0 million for the third quarter of 2016,
        and an increase of 33 percent compared to $39.5 million for the fourth
        quarter of 2015. Total revenues for the full year 2016 were $177.2
        million, compared to $163.1 million for the same period of 2015.
      </li>
      <li style="margin-bottom: 10.0px">
        The adjusted pretax operating loss for the quarter ended December 31,
        2016, was $2.6 million, compared to $1.9 million for the quarter ended
        September 30, 2016, and $1.2 million for the quarter ended December
        31, 2015. The adjusted pretax operating loss for the full year 2016
        was $20.2 million, compared to $0.2 million for the prior year.
      </li>
      <li style="margin-bottom: 10.0px">
        Services adjusted earnings before interest, income taxes, depreciation
        and amortization (Services adjusted EBITDA) for the quarter ended
        December 31, 2016, was $4.4 million, compared to $5.7 million for the
        quarter ended September 30, 2016, and $4.8 million for the quarter
        ended December 31, 2015. Additional details regarding the non-GAAP
        measure Services adjusted EBITDA may be found in Exhibits F and G.
      </li>
      <li style="margin-bottom: 10.0px">
        Revenue and expenses for contract underwriting performed on behalf of
        third parties, formerly reflected in our Mortgage Insurance segment,
        is now reflected in the Services segment for all periods, based on
        changes to the company&#8217;s personnel reporting lines and management
        oversight of this function. As a result of this change, for all
        periods presented, Services revenue, direct cost of services and other
        operating expenses have increased, with offsetting reductions in
        Mortgage Insurance other income and other operating expenses. In the
        fourth quarter, this change increased the Services segment&#8217;s revenue,
        direct cost of services and other operating expenses by $3.8 million,
        $2.3 million and $1.0 million, respectively.
      </li>
    </ul>
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        </div>
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        </div>
      </div>
    </div>
    <p>
      <i>Consolidated Expenses</i>
    </p>
    <p>
      Other operating expenses were $62.4 million in the fourth quarter,
      compared to $62.1 million in the third quarter of 2016, and $58.6
      million in the fourth quarter of last year.
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Notable variable items impacting other operating expenses include:

        <ul>
          <li style="margin-bottom: 10.0px">
            The company&#8217;s investment to significantly upgrade its technology
            systems, which represented $3.6 million in the fourth quarter,
            compared to $2.4 million in the third quarter of 2016, and $1.6
            million in the fourth quarter of 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Severance charges of $0.9 million in the fourth quarter, compared
            to $1.1 million in the third quarter, and $0.1 million in the
            fourth quarter of 2015. A significant portion of the severance
            charges in the fourth quarter of 2016 was related to the Services
            segment.
          </li>
          <li style="margin-bottom: 10.0px">
            Total incentive compensation expense of $9.1 million in the fourth
            quarter, compared to $12.7 million in the third quarter of 2016,
            and $4.0 million in the fourth quarter of 2015. The expense in the
            fourth and third quarters of 2016 was impacted by an increase in
            accrued short-term incentive compensation based on year-to-date
            performance. The expense in the fourth quarter of 2015 was
            impacted by a decrease in accrued short-term incentive
            compensation based on performance in 2015.
          </li>
          <li style="margin-bottom: 10.0px">
            Additional details may be found in Exhibit D.
          </li>
        </ul>
      </li>
      <li style="margin-bottom: 10.0px">
        Other operating expenses before corporate allocations for the fourth
        quarter of 2016 were comprised of $37.8 million for the Mortgage
        Insurance segment, compared to $35.9 million in the third quarter of
        2016, and $37.2 million in the fourth quarter of last year.
      </li>
      <li style="margin-bottom: 10.0px">
        Other operating expenses before corporate allocations for the fourth
        quarter of 2016 were comprised of $14.8 million for the Services
        segment, compared to $13.6 million in the third quarter of 2016, and
        $11.5 million in the fourth quarter of last year.
      </li>
    </ul>
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        </div>
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    </div>
    <p>
      CAPITAL AND LIQUIDITY UPDATE
    </p>
    <p>
      Radian Group maintained approximately $460 million of available
      liquidity as of December 31, 2016. The company successfully completed
      several capital actions in 2016, utilizing a portion of its liquidity to
      strengthen its financial position and improve its debt maturity profile,
      with the objective of better positioning Radian Group for a return to
      investment grade ratings in the future. This series of actions in 2016
      included:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Completion of a $100 million share repurchase program of the company&#8217;s
        common stock, at an average price of $10.62 per share, and the
        approval of an additional share repurchase of up to $125 million
      </li>
      <li style="margin-bottom: 10.0px">
        Entry into the Radian Guaranty Single Premium QSR transaction,
        improving the company&#8217;s expected return on required capital and
        effectively managing its PMIERs position in a cost-efficient manner
      </li>
      <li style="margin-bottom: 10.0px">
        Radian Guaranty&#8217;s redemption of its $325 million surplus note due to
        Radian Group, which immediately resulted in a $325 million increase to
        Radian Group&#8217;s available liquidity
      </li>
      <li style="margin-bottom: 10.0px">
        Early redemption of the remaining $196 million face value of its 9.00%
        Senior Notes due 2017
      </li>
      <li style="margin-bottom: 10.0px">
        Negotiated purchases of aggregate principal amounts of approximately
        $30 million of the company&#8217;s outstanding 3.00% Convertible Senior
        Notes due 2017 and $322 million of the company&#8217;s outstanding 2.25%
        Convertible Senior Notes due 2019
      </li>
      <li style="margin-bottom: 10.0px">
        Issuance of $350 million aggregate principal amount of 7.00% Senior
        Notes due 2021
      </li>
    </ul>
    <p>
      The combination of these capital actions decreased the company&#8217;s total
      number of diluted shares by 23.3 million in 2016 and improved Radian
      Group&#8217;s debt maturity profile.
    </p>
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    </div>
    <p>
      <b>RECENT EVENTS</b>
    </p>
    <p>
      In the fourth quarter of 2016, Radian Group issued a notice of
      redemption of its remaining 2.25% Convertible Senior Notes due 2019,
      with settlement scheduled for January 27, 2017. The company has elected
      to settle in cash any conversions by the holders. When completed, this
      redemption will further reduce the company&#8217;s total number of diluted
      shares by approximately 6.4 million shares and will reduce holding
      company liquidity by $110 million.
    </p>
    <p>
      &#8220;We both simplified and strengthened our capital structure in 2016,
      improving the maturity profile of our debt and significantly reducing
      our number of diluted shares outstanding,&#8221; said Radian&#8217;s Chief Financial
      Officer Frank Hall. &#8220;We believe the success of our capital activities is
      an indication of the improved outlook for Radian and for our industry.&#8221;
    </p>
    <p>
      <b>CONFERENCE CALL</b>
    </p>
    <p>
      Radian will discuss fourth quarter and year-end 2016 results in a
      conference call today, Thursday, January 26, 2017, at 10:00 a.m. Eastern
      time.
    </p>
    <p>
      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
      800.230.1092 inside the U.S., or 612.234.9960 for international callers,
      using passcode 415619 or by referencing Radian.
    </p>
    <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 415619.
    </p>
    <p>
      In addition to the information provided in the company'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>
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        </div>
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    </div>
    <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). Adjusted pretax operating income adjusts GAAP pretax
      income to remove the effects of: (i) net gains (losses) on investments
      and other financial instruments; (ii) loss on induced conversion and
      debt extinguishment; (iii) acquisition-related expenses; (iv)
      amortization and impairment of intangible assets; and (v) net impairment
      losses recognized in earnings. 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 company&#8217;s
      statutory tax rate for the period.
    </p>
    <p>
      In addition to the above non-GAAP measures for the consolidated company,
      the company also presents as supplemental information a non-GAAP measure
      for the Services segment, representing earnings before interest, income
      taxes, depreciation and amortization (EBITDA). Services adjusted EBITDA
      is calculated by using the Services segment&#8217;s adjusted pretax operating
      income as described above, further adjusted to remove the impact of
      depreciation and corporate allocations for interest and operating
      expenses. Services adjusted EBITDA is presented to facilitate
      comparisons with other services companies, since it is a widely accepted
      measure of performance in the services industry.
    </p>
    <p>
      See Exhibit F or Radian&#8217;s website for a description of these items, as
      well as Exhibit G for reconciliations to the most comparable
      consolidated GAAP measures.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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, risk management products and real estate
      services to financial institutions. Radian offers products and services
      through two business segments:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Mortgage Insurance</b>, through its principal mortgage insurance
        subsidiary Radian Guaranty Inc. This private mortgage insurance
        protects lenders from default-related losses, facilitates the sale of
        low-downpayment mortgages in the secondary market and enables
        homebuyers to purchase homes more quickly with downpayments less than
        20%.
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Mortgage and Real Estate Services</b>, through its principal
        services subsidiary Clayton, as well as Green River Capital, Red Bell
        Real Estate and ValuAmerica. These solutions include information and
        services that financial institutions, investors and government
        entities use to evaluate, acquire, securitize, service and monitor
        loans and asset-backed securities.
      </li>
    </ul>
    <p>
      Additional information may be found at <u>www.radian.biz</u>.
    </p>
    <p>
      <b>FINANCIAL RESULTS AND SUPPLEMENTAL INFORMATION CONTENTS (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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit A:
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Condensed Consolidated Statements of Operations Trend Schedule
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit B:
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Net Income Per Share Trend Schedule
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit C:
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Condensed Consolidated Balance Sheets
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit D:
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Net Premiums Earned &#8211; Insurance and Other Operating Expenses
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit E:
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Segment Information
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit F:
          </p>
        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Claims and Reserves
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit K:
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Condensed Consolidated Statements of Operations Trend Schedule (1)</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit A (page 1 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands, except per share amounts)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-left: 0.0px; text-align: left" 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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>233,585</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          238,149
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          229,085
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          220,950
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          226,443
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>49,905</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          45,877
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          40,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          38,338
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>28,996</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,839
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27,201
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,833
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(38,773</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,527
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (13,402
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Other income</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>736</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          716
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,454
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          666
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          670
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total revenues</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>274,449</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          320,883
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          330,168
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          312,952
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          274,882
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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="padding-left: 0.0px; text-align: left" 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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Provision for losses</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>54,287</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          55,785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49,725
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          42,991
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56,805
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,579</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,119
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,831
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>33,812</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,447
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27,365
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23,550
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23,187
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>62,416</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          62,119
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          63,173
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          57,188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          58,624
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>17,269</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,546
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21,534
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20,996
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17,397
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          55,570
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,320
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,290</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,292
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,311
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,328
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,409
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total expenses</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>176,653</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          193,942
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          173,621
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          210,550
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          170,172
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Pretax income</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>97,796</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          126,941
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          156,547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          102,402
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          104,710
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>36,707</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          44,138
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          58,435
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          36,153
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          30,182
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>61,089</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          82,803
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          98,112
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          66,249
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          74,528
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Diluted net income per share:</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.27</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.29
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.32
        </td>
        <td>

        </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-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: left" valign="bottom">
          <b>Selected Mortgage Insurance Key Ratios</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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Loss ratio (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>23.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          25.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Expense ratio (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>22.7</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue and direct cost of services have increased, with
            offsetting reductions in Mortgage Insurance other income and other
            operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Calculated on a GAAP basis using net premiums earned.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Condensed Consolidated Statements of Operations (1)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit A (page 2 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands, except per-share data)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>921,769</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          915,908
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>168,894</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          157,216
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>113,466</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          81,537
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>30,751</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          35,693
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,572</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,899
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total revenues</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,238,452</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,193,253
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>202,788</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          198,585
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>23,480</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,424
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>114,174</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          93,715
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>244,896</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          242,405
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>81,132</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          91,102
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>75,075</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          94,207
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>13,221</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          12,986
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total expenses</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>754,766</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          755,424
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>483,686</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          437,829
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>175,433</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          156,290
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income from continuing operations</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>308,253</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          281,539
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          5,385
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>308,253</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          286,924
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.37</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.20
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.02
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.37</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          1.22
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: left" valign="bottom">
          <b>Selected Mortgage Insurance Key Ratios</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>22.2</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Expense ratio (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>22.7</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue and direct cost of services have increased, with
            offsetting reductions in Mortgage Insurance other income and other
            operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Calculated on a GAAP basis using net premiums earned.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Income Per Share Trend Schedule</b>
        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit B (page 1 of 2)</b>
        </td>
      </tr>
      <tr>
        <td colspan="20">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The calculation of basic and diluted net income per share was
            as follows:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands, except per share amounts)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-left: 0.0px; text-align: left" 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="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Net income&#8212;basic</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>61,089</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          82,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          98,112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          66,249
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          74,528
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Adjustment for dilutive Convertible Senior Notes due 2019, net of
          tax (1)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>665</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          848
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          913
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,390
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,664
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          <b>Net income&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>61,754</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          83,651
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          99,025
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          69,639
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          78,192
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Average common shares outstanding&#8212;basic</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>214,481</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          214,387
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          214,274
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          203,706
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          206,872
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2017 (2)</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          178
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,057
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2019</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>6,417</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,274
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,928
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          33,583
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,457</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,129
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,989
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,316
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted average common shares outstanding&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>224,776</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          225,968
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          226,203
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          239,707
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          247,981
        </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="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Basic net income per share:</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.28</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.46
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.33
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.36
        </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="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Diluted net income per share:</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.27</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.37
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.44
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.29
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.32
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The following number of shares of our common stock equivalents
            issued under our stock-based compensation arrangements and
            convertible debt were not included in the calculation of diluted
            net income per share because they were anti-dilutive:</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Shares of Convertible Senior Notes due 2017</b>
        </td>
        <td>

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

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,902
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Shares of common stock equivalents</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,042</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,045
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,042
        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          728
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Income Per Share</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit B (page 2 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b> December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands, except per share amounts)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income from continuing operations:</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>308,253</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          281,539
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Adjustment for dilutive Convertible Senior Notes due 2019, net of
          tax (1)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,816</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          14,758
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          <b>Net income from continuing operations - diluted</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>314,069</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          296,297
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>308,253</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          281,539
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          5,385
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Net income - basic</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>308,253</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          286,924
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Adjustment for dilutive Convertible Senior Notes due 2019, net of
          tax (1)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,816</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          14,758
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          <b>Net income - diluted</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>314,069</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          301,682
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>211,789</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          199,910
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2017 (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>207</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,293
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Dilutive effect of Convertible Senior Notes due 2019</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>14,263</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,999</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,393
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted average common shares outstanding&#8212;diluted</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>229,258</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          246,332
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.46</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.41
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.03
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.46</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          1.44
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.37</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.20
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Income (loss) from discontinued operations, net of tax</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.02
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.37</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          1.22
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The following number of shares 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>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <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 colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b> December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Shares of common stock equivalents</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,042</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          728
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Exhibit C</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: center" valign="bottom">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: center" valign="bottom">
          June 30,
        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: center" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands, except per share data)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,462,430</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,565,748
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,636,914
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,470,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,298,686
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>52,149</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          46,356
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          55,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          64,844
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          46,898
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>9,665</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10,312
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          9,298
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10,060
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13,000
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>77,631</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          94,692
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          77,170
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          66,340
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          61,734
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Deferred income taxes, net</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>411,798</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          401,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          444,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          518,059
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          577,945
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>276,228</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          279,400
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          282,703
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          286,069
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          289,417
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>229,438</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          229,754
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          229,231
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          228,718
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          40,491
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>343,835</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          422,123
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          332,372
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          325,129
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          313,929
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,863,174</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          6,049,827
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          6,067,263
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,969,391
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,642,100
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>681,222</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          680,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          677,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          673,887
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          680,300
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>760,269</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          821,934
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          848,379
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          891,348
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          976,399
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,069,537</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,067,666
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,278,051
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,286,466
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,219,454
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>158,001</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          177,147
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          163,360
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          151,104
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>321,859</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          413,401
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          294,507
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          306,188
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          269,016
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,990,888</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,161,121
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,261,896
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,308,993
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,145,169
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>232</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          232
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(893,332</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (893,197
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (893,176
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (893,176
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (893,176
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Additional paid-in capital</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,779,891</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,778,860
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,781,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,773,349
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,716,618
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>997,890</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          937,338
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          855,070
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          757,202
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          691,742
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(12,395</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          65,473
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          62,105
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          22,791
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (18,477
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,872,286</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,888,706
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,805,367
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,660,398
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,496,931
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total liabilities and stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,863,174</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          6,049,827
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          6,067,263
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,969,391
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,642,100
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>214,521</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          214,405
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          214,284
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          214,265
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          206,872
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>13.39</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.09
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.42
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.07
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <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">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: left" valign="bottom">
          <b>Statutory Capital Ratios</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Risk to capital ratio-Radian Guaranty only</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>13.5</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>:1</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Risk to capital ratio-Mortgage Insurance combined</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>13.6</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>:1</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          :1
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <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>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1) Preliminary.</b>
          </p>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <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>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <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>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net Premiums Earned - Insurance and Other Operating Expenses</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Exhibit D (page 1 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Premiums earned - insurance:</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Direct</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>251,751</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          258,074
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          248,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          240,330
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          239,424
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Assumed</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Ceded</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(18,174</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (19,934
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (19,862
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (19,389
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (12,991
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>233,585</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          238,149
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          229,085
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          220,950
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          226,443
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Notable variable items: (1)</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Single Premium Policy cancellations, net of reinsurance</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>15,702</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          18,448
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14,841
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          9,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13,520
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Profit commission - reinsurance (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,458</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8,922
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7,891
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          6,134
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,559
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>24,160</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          27,370
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          22,732
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          15,917
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          15,079
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Other operating expenses (3)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>62,416</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          62,119
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          63,173
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          57,188
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          58,624
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Notable variable items: (4)</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Technology upgrade project (5)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,648</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,440
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,271
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,558
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Severance costs</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>888</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,137
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          277
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,040
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Incentive compensation (6) (7)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>9,072</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12,652
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,013
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Ceding commissions (8)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(5,105</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (5,460
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (5,006
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (4,413
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (1,229
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,503</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          10,769
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          11,897
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          7,133
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          4,458
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Affecting net premiums earned-insurance.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For 2016, the amounts represent the profit commission on the
            Single Premium QSR Transaction. For 2015, the amount represents an
            accrual for the profit commission on the Second QSR Transaction.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue and direct cost of services have increased, with
            offsetting reductions in Mortgage Insurance other income and other
            operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Affecting other operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(5)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Represents the expense impact of certain costs incurred in our
            initiative to significantly upgrade our technology systems.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(6)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The expense relates to short- and long-term incentive
            compensation programs. For our equity-settled long-term incentive
            awards the annual grants for 2016 were made in the second quarter
            of 2016. Therefore, expense in the second quarter of 2016 was
            elevated, primarily due to the required acceleration of expense
            recognition for retirement-eligible employees, who are considered
            effectively vested immediately in grants that would otherwise vest
            over a period of 3 or 4 years. The expense in the third and fourth
            quarter of 2016 remained elevated, primarily due to adjustments to
            accrued short-term incentives based on year-to-date performance.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(7)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Incentive compensation expense is shown net of deferred policy
            acquisition costs.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(8)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Ceding commissions are shown net of deferred policy acquisition
            costs.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net Premiums Earned - Insurance and Other Operating Expenses</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Exhibit D (page 2 of 2)</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Direct</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>999,093</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          973,645
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Assumed</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>35</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          43
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Ceded</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(77,359</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (57,780
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net premiums earned - insurance</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>921,769</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          915,908
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Notable variable items: (1)</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Single Premium Policy cancellations, net of reinsurance</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>58,774</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          68,267
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Profit commission - reinsurance (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>31,405</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7,993
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>90,179</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          76,260
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Other operating expenses (3)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>244,896</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          242,405
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Notable variable items: (4)</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Technology upgrade project (5)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>10,802</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,108
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Severance costs</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,342</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,517
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Incentive compensation (6) (7)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>42,142</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          40,186
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Ceding commissions (8)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(19,984</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (5,482
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>38,302</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          43,329
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Affecting net premiums earned-insurance.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For 2016, the amounts represent the profit commission on the
            Single Premium QSR Transaction. For 2015, the amount represents an
            accrual for the profit commission on the Second QSR Transaction.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue and direct cost of services have increased, with
            offsetting reductions in Mortgage Insurance other income and other
            operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Affecting other operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(5)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Represents the expense impact of certain costs incurred in our
            initiative to significantly upgrade our technology systems.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(6)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The expense relates to short- and long-term incentive
            compensation programs.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(7)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Incentive compensation expense is shown net of deferred policy
            acquisition costs.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(8)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Ceding commissions are shown net of deferred policy acquisition
            costs.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Segment Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit E (page 1 of 3)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Summarized financial information concerning our operating segments
          as of and for the periods indicated is as follows. For a definition
          of adjusted pretax operating income and Services adjusted EBITDA,
          along with reconciliations to consolidated GAAP measures, see
          Exhibits F and G.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="23" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Mortgage Insurance (1)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="18" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net premiums written - insurance</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>234,172</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          240,999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          232,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          26,310
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          233,347
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(587</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (2,850
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (3,268
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          194,640
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (6,904
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>233,585</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          238,149
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          229,085
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          220,950
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          226,443
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>28,996</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,839
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27,201
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,833
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>736</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          716
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,454
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          666
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          670
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>263,317</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          267,295
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          259,378
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          248,817
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          249,946
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>54,675</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56,151
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50,074
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          43,275
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56,817
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,579</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,119
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,831
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>37,773</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          35,940
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          34,365
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          32,546
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          37,156
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>98,027</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          98,210
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          89,832
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          82,210
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          98,804
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>165,290</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          169,085
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          169,546
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          166,607
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          151,142
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate operating expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>9,652</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          11,911
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          9,329
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          9,251
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of interest expense</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>12,843</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          15,360
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          18,124
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          17,112
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          16,582
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>142,795</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          141,814
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          137,136
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          140,166
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          125,309
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="23">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="23" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Services (1)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="18" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 2
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Services revenue (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>52,558</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          48,033
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          42,210
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          34,448
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          39,498
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>34,130</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,655
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27,730
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23,854
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23,826
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>14,842</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          13,575
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          13,030
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          14,368
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          11,492
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>48,972</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          43,230
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          40,760
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          38,222
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          35,318
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income (loss) before corporate
          allocations (4)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,586</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,774
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,180
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate operating expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,738</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,265
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of interest expense</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,426</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4,423
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4,422
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4,422
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4,414
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income (loss)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>(2,578</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (1,885
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (5,751
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (9,947
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (1,202
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue, direct cost of services and other operating expenses have
            increased, with offsetting reductions in Mortgage Insurance other
            income and other operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net of ceded premiums written under the Single Premium QSR
            transaction of $197.6 million.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Inter-segment information:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="14" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Inter-segment expense included in Mortgage Insurance segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,156
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,160
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Inter-segment revenue included in Services segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,156
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,160
        </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>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Segment Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit E (page 2 of 3)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental information for Services adjusted EBITDA (see
            definition in Exhibit F):</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="17">

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="17" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          Qtr 3
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          Qtr 2
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          Qtr 1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,586</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,774
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,180
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 50.0px; text-align: left" valign="bottom">
          <b>Depreciation and amortization</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>829</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          884
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          749
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          612
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Services EBITDA</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,415</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,687
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          2,199
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (3,111
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          4,792
        </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>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8">

        </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>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Mortgage Insurance (1)</b>
        </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>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>733,834</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2</b>)
          </p>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            968,505
          </p>
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Decrease (increase) in unearned premiums</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>187,935</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (52,597
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net premiums earned - insurance</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>921,769</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          915,908
        </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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net investment income (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>113,466</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          81,537
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Other income (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,572</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,899
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,038,807</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,000,344
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </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>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>204,175</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          198,433
        </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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Policy acquisition costs</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>23,480</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,424
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Other operating expenses before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>140,624</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          148,619
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total (4)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>368,279</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          369,476
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>670,528</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          630,868
        </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>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate operating expenses (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>45,178</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          46,418
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of interest expense (3)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>63,439</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          73,402
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>561,911</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          511,048
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </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>
      </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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#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>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Services (1)</b>
        </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>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Services revenue (4)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>177,249</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          163,140
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Direct cost of services</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>115,369</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          97,256
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Other operating expenses before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>55,815</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          43,515
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>171,184</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          140,771
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income (loss) before corporate
          allocations (5)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>6,065</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,369
        </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>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate operating expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,533</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,823
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Allocation of interest expense</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>17,693</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          17,700
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </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>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income (loss)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>(20,161</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (154
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </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>
      </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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For all periods presented, incorporates organizational changes
            to align our segment reporting structure with recent changes in
            personnel reporting lines and management oversight related to
            contract underwriting performed on behalf of third parties.
            Revenue and expenses for this business is now reflected in the
            Services segment. As a result, for all periods presented, Services
            revenue, direct cost of services and other operating expenses have
            increased, with offsetting reductions in Mortgage Insurance other
            income and other operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Segment Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit E (page 3 of 3)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net of ceded premiums written under the Single Premium QSR
            transaction of $197.6 million.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For periods prior to the quarter ended June 30, 2015, 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>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Inter-segment information:</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="9">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Inter-segment expense included in Mortgage Insurance segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,355</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,924
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,355</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,924
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(5)</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental information for Services adjusted EBITDA (see
            definition in Exhibit F)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income before corporate allocations</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>6,065</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,369
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="bottom">
          <b>Depreciation and amortization</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,125</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          2,098
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Services EBITDA</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>9,190</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          24,467
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Selected balance sheet information for our segments, as of the
            periods indicated, is a follows:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>At December 31, 2016</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage</b><br><b>Insurance</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Services</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,506,338</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>356,836</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,863,174</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>At December 31, 2015</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage</b><br><b>Insurance</b>
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Total</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,290,422
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          351,678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,642,100
        </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>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Definition of Consolidated Non-GAAP Financial Measures</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit F (page 1 of 2)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Use of Non-GAAP Financial Measures</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          In addition to the traditional GAAP financial measures, we have
          presented &#8220;adjusted pretax operating income&#8221; and &#8220;adjusted diluted
          net operating income per share,&#8221; non-GAAP financial measures for the
          consolidated company, 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 operating trends and
          enabling more meaningful comparisons with our peers. Although on a
          consolidated basis &#8220;adjusted pretax operating income&#8221; and &#8220;adjusted
          diluted net operating income per share&#8221; 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.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Adjusted pretax operating income is defined as GAAP consolidated
          pretax income from continuing operations excluding the effects of
          net gains (losses) on investments and other financial instruments,
          loss on induced conversion and debt extinguishment,
          acquisition-related expenses, amortization and impairment of
          intangible assets and net impairment losses recognized in earnings.
          Adjusted diluted net operating income per share is calculated by
          dividing (i) adjusted pretax operating income attributable to common
          shareholders, net of taxes computed using the company&#8217;s statutory
          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.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          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 consolidated pretax income (loss)
          from continuing operations. These adjustments, along with the
          reasons for their treatment, are described below.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          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. We do not view them to be
          indicative of our fundamental operating activities. 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).
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          (2)
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Loss on induced conversion and debt extinguishment.</i> Gains
            or losses on early extinguishment of debt and losses incurred to
            purchase our convertible debt prior to maturity are discretionary
            activities that are undertaken in order to take advantage of
            market opportunities to strengthen our financial and capital
            positions; therefore, we do not view these activities as part of
            our operating performance. Such transactions do not reflect
            expected future operations and do not provide meaningful insight
            regarding our current or past operating trends. Therefore, these
            items are excluded from our calculation of adjusted pretax
            operating income (loss).
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          (3)
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          (4)
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Definition of Consolidated Non-GAAP Financial Measures</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit F (page 2 of 2)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          (5)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          In addition to the above non-GAAP measures for the consolidated
          company, we also have presented as supplemental information a
          non-GAAP measure for our Services segment, representing a measure of
          earnings before interest, income taxes, depreciation and
          amortization (&#8220;EBITDA&#8221;). We calculate Services adjusted EBITDA by
          using adjusted pretax operating income as described above, further
          adjusted to remove the impact of depreciation and corporate
          allocations for interest and operating expenses. We have presented
          Services adjusted EBITDA to facilitate comparisons with other
          services companies, since it is a widely accepted measure of
          performance in the services industry.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          See Exhibit G for the reconciliation of the most comparable GAAP
          measures, consolidated pretax income from continuing operations and
          diluted net income per share from continuing operations, to our
          non-GAAP financial measures for the consolidated company, adjusted
          pretax operating income and adjusted diluted net operating income
          per share, respectively. Exhibit G also contains the reconciliation
          of the most comparable GAAP measure, net income, to Services
          adjusted EBITDA.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total adjusted pretax operating income, adjusted diluted net
          operating income per share and Services adjusted EBITDA are not
          measures of total profitability, and therefore should not be viewed
          as substitutes for GAAP pretax income, diluted net income per share
          or net income. Our definitions of adjusted pretax operating income,
          adjusted diluted net operating income per share or Services adjusted
          EBITDA may not be comparable to similarly-named measures reported by
          other companies.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Consolidated Non-GAAP Financial Measure Reconciliations</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit G (page 1 of 4)</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="26" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of Consolidated Pretax Income to Adjusted Pretax
            Operating Income</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="18" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 2
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Consolidated pretax income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>97,796</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          126,941
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          156,547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          102,402
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          104,710
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Less income (expense) items:</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Net gains (losses) on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(38,773</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,527
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (13,402
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (17,397
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (55,570
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (2,320
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Acquisition-related expenses (1)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(358</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (205
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (266
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(3,290</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (3,292
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (3,311
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (3,328
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (3,409
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total adjusted pretax operating income (2)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>140,217</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          139,929
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          131,385
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          130,219
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          124,107
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="26">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="26" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1) Please see Exhibit F for the definition of this line item.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="26" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2) Total adjusted pretax operating income consists of adjusted
            pretax operating income for each segment as follows:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="26">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="18" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Qtr 4</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 2
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Adjusted pretax operating income (loss):</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="bottom">
          <b>Mortgage Insurance</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>142,795</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          141,814
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          137,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          140,166
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          125,309
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="bottom">
          <b>Services</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(2,578</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (1,885
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (5,751
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (9,947
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (1,202
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="bottom">
          <b>Total adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>140,217</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          139,929
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          131,385
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          130,219
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          124,107
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Consolidated Non-GAAP Financial Measure Reconciliations</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit G (page 2 of 4)</b>
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Reconciliation of Diluted Net Income Per Share to Adjusted
          Diluted Net Operating Income Per Share</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Diluted net income per share</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.27</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.29
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.32
        </td>
        <td>

        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Less per-share impact of debt items:</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.08
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.23
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Income tax provision (benefit) (1)</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.03
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.03
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.04
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Per-share impact of debt items</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.05
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.20
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.03
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Less per-share impact of other income (expense) items:</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Net gains (losses) on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.17</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.05
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Acquisition-related expenses</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.02</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Income tax provision (benefit) on other income (expense) items (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.07</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.02
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Difference between statutory and effective tax rate</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.02</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.04
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Per-share impact of other income (expense) items</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.14</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.01
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.07
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.12
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.05
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Adjusted diluted net operating income per share (2)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.41</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.41
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.38
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.37
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          0.34
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>A portion of the loss on induced conversion and debt
            extinguishment is non-deductible for tax purposes. The income tax
            benefit is based on the tax deductible loss using the company's
            federal statutory tax rate.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Calculated using the company&#8217;s federal statutory tax rate. Any
            permanent tax adjustments and state income taxes on these items
            have been deemed immaterial and are not included.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of Consolidated Pretax Income from Continuing
            Operations to Adjusted Pretax Operating Income</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Consolidated pretax income from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>483,686</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          437,829
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Less income (expense) items:</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="bottom">
          <b>Net gains on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>30,751</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          35,693
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(75,075</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (94,207
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="bottom">
          <b>Acquisition-related expenses (1)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(519</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,565
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 40.0px; text-align: left" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(13,221</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (12,986
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Total adjusted pretax operating income (2)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>541,750</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          510,894
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Please see Exhibit F for the definition of this line item.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Total adjusted pretax operating income consists of adjusted
            pretax operating income for each segment as follows:</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" 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 style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Mortgage Insurance *</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>561,911</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          511,048
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Services</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(20,161</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (154
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>541,750</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          510,894
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>*</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For periods prior to the quarter ended June 30, 2015, 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>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Consolidated Non-GAAP Financial Measure Reconciliations</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit G (page 3 of 4)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of Diluted Net Income Per Share from Continuing
            Operations to Adjusted Diluted Net Operating Income Per Share</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Diluted net income per share from continuing operations</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.37</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.20
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Less per-share impact of debt items:</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.33</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Income tax provision (benefit) (1)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.07</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.13
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="bottom">
          <b>Per-share impact of debt items</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.26</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (0.25
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Less per-share impact of other income (expense) items:</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Net gains (losses) on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.14</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.14
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Acquisition-related expenses</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(0.06</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (0.05
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Income tax provision (benefit) on other income (expense) items (2)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.03</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.03
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 35.0px; text-align: left" valign="bottom">
          <b>Difference between statutory and effective tax rate</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.02</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="bottom">
          <b>Per-share impact of other income (expense) items</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.07</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          0.05
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Adjusted diluted net operating income per share (2)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.56</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          1.40
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>A portion of the loss on induced conversion and debt
            extinguishment is non-deductible for tax purposes. The income tax
            benefit is based on the tax deductible loss using the company's
            federal statutory tax rate.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Calculated using the company&#8217;s federal statutory tax rate. Any
            permanent tax adjustments and state income taxes on these items
            have been deemed immaterial and are not included.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Radian Group Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Consolidated Non-GAAP Financial Measure Reconciliations</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Exhibit G (page 4 of 4)</b>
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Reconciliation of Net Income to Services Adjusted EBITDA</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(In thousands)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>61,089</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          82,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          98,112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          66,249
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          74,528
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Less income (expense) items:</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Net gains (losses) on investments and other financial instruments</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(38,773</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,527
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (13,402
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Loss on induced conversion and debt extinguishment</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (17,397
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (55,570
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (2,320
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Acquisition-related expenses</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(358</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (205
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (266
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Amortization and impairment of intangible assets</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(3,290</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,292
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,311
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,328
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,409
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Income tax provision</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>36,707</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          44,138
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          58,435
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          36,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,182
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Mortgage Insurance adjusted pretax operating income</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>142,795</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          141,814
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          137,136
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          140,166
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          125,309
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Services adjusted pretax operating income (loss)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(2,578</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,885
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (5,751
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (9,947
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,202
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Less income (expense) items:</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate operating expenses to Services</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(1,738</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (2,265
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,751
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (968
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Allocation of corporate interest expenses to Services</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>(4,426</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (4,423
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (4,422
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (4,422
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (4,414
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Services depreciation and amortization</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(829</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (884
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (749
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (663
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (612
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Services adjusted EBITDA</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,415</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          5,687
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          2,199
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          (3,111
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          4,792
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          On a consolidated basis, &#8220;adjusted pretax operating income&#8221; and
          &#8220;adjusted diluted net operating income per share&#8221; are measures not
          determined in accordance with GAAP. &#8220;Services adjusted EBITDA&#8221; is
          also a non-GAAP measure. These measures are not representative of
          total profitability, and therefore should not be viewed as
          substitutes for GAAP pretax income or diluted net income per share.
          Our definitions of adjusted pretax operating income, adjusted
          diluted net operating income per share or Services adjusted EBITDA
          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.
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage Insurance Supplemental Information - New Insurance
            Written</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit H</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>($ in millions)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total primary new insurance written</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>13,882</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          15,656
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          12,921
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          8,071
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          9,099
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary new insurance written by FICO score</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>63.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          64.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          60.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          58.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          60.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>680-739</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>31.4</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          33.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>620-679</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>5.2</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          5.4
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          6.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7.5
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            100.0
          </p>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary new insurance written</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="3">

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>73</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          73
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          71
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          71
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Single premiums</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>27</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          26
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net single premiums (1)</b>
        </td>
        <td>

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

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

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Refinances</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>27</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

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

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>LTV</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>95.01% and above</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>7.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>90.01% to 95.00%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>43.6</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          47.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>85.01% to 90.00%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>32.3</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          33.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          34.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>85.00% and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>16.7</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          15.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>In 2016, represents the percentage of direct single premiums
            written, after consideration of the 35% single premium NIW ceded
            under the Single Premium QSR Transaction.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage Insurance Supplemental Information - Primary Insurance
            in Force and Risk in Force</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit I</b>
          </p>
        </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>

        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          June 30,
        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>($ in millions)</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Primary insurance in force (1)</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>174,927</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          172,178
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          168,259
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          165,526
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          165,291
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,064</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,363
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,627
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,907
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,176
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,459</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,624
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,786
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,953
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4,117
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>183,450</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          181,165
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          177,672
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          175,386
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          175,584
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Primary risk in force (1) (2)</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>44,708</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          44,075
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          43,076
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          42,312
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          42,170
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,168</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,302
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,427
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>865</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          906
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          946
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          988
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,030
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>46,741</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          46,222
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          45,324
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          44,666
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          44,627
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary risk in force</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="3">

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>69</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          69
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          69
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          69
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          69
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Direct single premiums</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>31</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net single premiums (3)</b>
        </td>
        <td>

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

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

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

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary risk in force by FICO score</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>&gt;=740</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>57.6</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          57.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          57.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          57.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          57.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>680-739</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>31.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>620-679</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>9.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>&lt;=619</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.5</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1.5
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1.6
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1.7
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1.8
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total Primary</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary risk in force by LTV</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>95.01% and above</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>7.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>90.01% to 95.00%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>52.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          52.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          51.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>85.01% to 90.00%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>32.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          33.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          33.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          34.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>85.00% and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>7.8</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          7.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8.0
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8.2
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8.3
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Percentage of primary risk in force by policy year</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>2005 and prior</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4.8</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2006</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2007</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>7.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2008</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2009</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2010</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2011</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2012</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          9.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          11.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2013</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>12.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          15.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          18.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2014</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>12.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          16.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2015</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>18.1</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 10.0px; white-space: nowrap; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2016</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>25.9</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          19.3
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          11.5
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          4.6
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>100.0</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          100.0
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: left" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Primary risk in force on defaulted loans (4)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,363</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,381
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,562
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,625
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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 style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Does not include pool risk in force or other risk in force,
            which combined represent less than 3.0% of our total risk in force
            for all periods presented.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Represents the percentage of Single Premium RIF, after giving
            effect to all reinsurance ceded.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Excludes risk related to loans subject to the Freddie Mac
            Agreement.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage Insurance Supplemental Information - Claims and
            Reserves</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit J</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>($ in thousands)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Net claims paid: (1)</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>70,151</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          51,964
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56,036
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          74,432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56,900
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>27,558</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          16,334
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          18,349
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,929
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21,343
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>13,760</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          9,615
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          12,315
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          13,196
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          11,530
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total primary claims paid</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>111,469</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          77,913
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          86,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          116,557
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          89,773
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Pool</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,788</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,492
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,451
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,477
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Second-lien and other</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>(264</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (234
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (231
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          345
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          (143
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Subtotal</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>115,993</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          82,171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          91,920
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          124,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          96,107
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Impact of captive terminations</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>492</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (171
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (2,619
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (120
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (65
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Impact of settlements (2)</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          705
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          1,400
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          3,500
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          80,426
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total net claims paid</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>116,485</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          82,705
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          90,701
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          127,671
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          176,468
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Average net claims paid (3)</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="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>45.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          47.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          46.9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>65.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          65.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          63.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          63.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          61.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>37.7</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          41.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          39.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          36.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          40.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total average net primary claims paid</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>47.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <b>Pool</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>45.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          51.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          58.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          53.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          56.3
        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>47.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48.9
        </td>
        <td>

        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Average direct primary claims paid (3) (4)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>48.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Average total direct claims paid (3) (4)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>47.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          49.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50.6
        </td>
        <td>

        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>($ in thousands, except primary reserve per</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          June 30,
        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>primary default amounts)</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Reserve for losses by category</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="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Prime</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>379,845</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          409,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          420,281
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          438,598
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          480,481
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Alt-A</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>148,006</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          166,349
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          173,284
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          183,189
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          203,706
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>A minus and below</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>101,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          106,678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          112,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          116,835
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          129,352
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>IBNR and other</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>71,107</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          73,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          74,639
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          79,051
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          83,066
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>LAE</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>18,630</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          21,255
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          23,600
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          26,108
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Reinsurance recoverable (5)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>6,816</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          6,448
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          6,044
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8,239
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          8,286
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total primary reserves</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>726,057</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          783,225
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          808,638
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          849,512
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          930,999
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Pool insurance</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>31,853</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          36,065
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          36,982
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          38,843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          42,084
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>IBNR and other</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>673</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          897
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,050
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,118
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>LAE</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>933</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,163
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,227
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,335
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Reinsurance recoverable (5)</b>
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          36
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          33
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>33,493</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          38,036
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          39,075
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          41,120
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          44,537
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total 1st lien reserves</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>759,550</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          821,261
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          847,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          890,632
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          975,536
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Second-lien and other</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          <b>719</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          666
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          716
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right" valign="bottom">
          863
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total reserves</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          <b>760,269</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          821,934
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          848,379
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          891,348
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right" valign="bottom">
          976,399
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>1st lien reserve per default</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="padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Primary reserve per primary default excluding IBNR and other</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>22,503</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          24,049
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          24,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          24,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          24,019
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net of reinsurance recoveries.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For 2015, includes the impact of the BofA Settlement Agreement.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Calculated without giving effect to the impact of the
            termination of captive transactions and settlements.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Before reinsurance recoveries.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(5)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Represents ceded losses on captive transactions and quota share
            reinsurance transactions.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </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 colspan="15" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage Insurance Supplemental Information - Default Statistics</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit K</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

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

        </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 colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          June 30,
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          March 31,
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Default Statistics</b></u>
          </p>
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Primary Insurance:</b>
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Prime</b></u>
          </p>
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>849,227</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          840,534
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          826,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          817,236
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          816,797
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>19,101</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19,100
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19,025
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19,510
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22,223
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2.25</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.27
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.30
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.39
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.72
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Alt-A</b></u>
          </p>
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>26,536</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,080
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,445
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,990
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32,411
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,193</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,545
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,820
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,138
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,813
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>15.80</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          16.19
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          16.37
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          16.58
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17.94
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>A minus and below</b></u>
          </p>
        </td>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>27,115</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,313
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,681
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31,902
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,811</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,982
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,221
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,267
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>21.43</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20.79
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20.31
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20.28
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          22.78
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of insured loans</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>902,878</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          896,927
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          885,406
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          878,907
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          881,110
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Number of loans in default (1)</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>29,105</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          35,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="bottom">
          <b>Percentage of loans in default</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3.22</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.29
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.37
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.51
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.01
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Excludes the following number of loans subject to the Freddie
            Mac Agreement that are in default as we no longer have claims
            exposure on these loans:</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>December 31,</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          September 30,
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          June 30,
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="bottom">
          March 31,
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2016
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Number of loans in default</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,639</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,888
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,180
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,821
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="21" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Radian Group Inc. and Subsidiaries</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Mortgage Insurance Supplemental Information - Captives, QSR and
            Persistency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit L</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="15" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>($ in thousands)</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; border-bottom-style: solid; text-align: center" valign="bottom">
          Qtr 4
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Initial and Second Quota Share Reinsurance (&#8220;QSR&#8221;)
            Transaction</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>QSR ceded premiums written (1)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>6,049</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,730
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,356
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,934
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>2.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>QSR ceded premiums earned (1)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>9,421</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10,597
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          11,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          11,325
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10,523
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3.8</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.1
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Ceding commissions written</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,728</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,922
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,270
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,553
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Ceding commissions earned (2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,374</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,974
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,779
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,446
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,466
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,559
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Risk in force included in QSR (3)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>1,578,300</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,718,031
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,872,017
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,018,468
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,131,030
        </td>
        <td>

        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Single Premium QSR Transaction</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>QSR ceded premiums written (1)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>11,121</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          13,004
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          11,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          197,593
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>% of premiums written</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4.4</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4.6
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          84.7
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>QSR ceded premiums earned (1)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,060</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,608
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,994
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>% of premiums earned</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3.2</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Ceding commissions written</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,895</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,482
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,844
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          50,932
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Ceding commissions earned (2)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>4,130</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,382
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,759
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,032
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Profit commission</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>8,458</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,922
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          7,891
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Risk in force included in QSR (3)</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>3,761,648</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,621,993
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,461,464
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,308,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          N/A
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Total risk in force included in QSRs</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>5,339,948</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,340,024
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,333,481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,326,525
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,131,030
        </td>
        <td>

        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>1st Lien Captives</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="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Premiums earned ceded to captives</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>503</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,346
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,268
        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>0.2</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.2
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.5
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </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="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Persistency Rate (twelve months ended)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>76.7</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          78.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          79.9
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          79.4
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          78.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Persistency Rate (quarterly, annualized) (4)</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          <b>76.8</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          75.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          78.0
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          82.3
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          81.8
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net of profit commission.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(2)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Includes amounts reported in policy acquisition costs and other
            operating expenses.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(3)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Included in primary risk in force.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(4)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>The Persistency Rate on a quarterly, annualized basis may be
            impacted by seasonality or other factors, and may not be
            indicative of full-year trends.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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>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>
    <ul>
      <li style="margin-bottom: 10.0px">
        changes in general economic and political conditions, including in
        particular but without limitation, unemployment rates, interest rates
        and changes in housing and mortgage credit markets, that impact the
        size of the insurable market and the credit performance of our insured
        portfolio;
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        changes in the way customers, investors, regulators or legislators
        perceive the performance and financial strength of private mortgage
        insurers;
      </li>
      <li style="margin-bottom: 10.0px">
        Radian Guaranty&#8217;s ability to remain eligible under the PMIERs and
        other applicable requirements imposed by the Federal Housing Finance
        Agency and by the GSEs to insure loans purchased by the GSEs;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to successfully execute and implement our capital plans
        and to maintain sufficient holding company liquidity to meet our
        short- and long-term liquidity needs;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to successfully execute and implement our business plans
        and strategies, including in particular but without limitation, plans
        and strategies that require GSE and/or regulatory approvals;
      </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;
      </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 the GSEs&#8217;
        interpretation and application of the PMIERs to our mortgage insurance
        business;
      </li>
      <li style="margin-bottom: 10.0px">
        changes in the current housing finance system in the U.S., including
        in particular but without limitation, the role of the FHA, the GSEs
        and private mortgage insurers in this system;
      </li>
    </ul>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <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>
    <ul>
      <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 significant decrease in the persistency rates of our mortgage
        insurance policies;
      </li>
      <li style="margin-bottom: 10.0px">
        competition in our mortgage insurance business, including in
        particular but without limitation, price competition and competition
        from the FHA, VA and other forms of credit enhancement;
      </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 laws and regulations, or changes in existing laws
        and regulations, or the way they are interpreted or applied;
      </li>
      <li style="margin-bottom: 10.0px">
        the outcome of legal and regulatory actions, reviews, audits,
        inquiries and investigations that could result in adverse judgments,
        settlements, fines, injunctions, restitutions or other relief that
        could require significant expenditures or have other effects on our
        business;
      </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 its 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 business;
      </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;
      </li>
      <li style="margin-bottom: 10.0px">
        changes in GAAP or SAPP rules and guidance, or their interpretation;
      </li>
      <li style="margin-bottom: 10.0px">
        our ability to attract and retain key employees;
      </li>
      <li style="margin-bottom: 10.0px">
        legal and other limitations on dividends and other amounts we may
        receive from our subsidiaries; and
      </li>
      <li style="margin-bottom: 10.0px">
        the possibility that we may need to impair the carrying value of
        goodwill established in connection with our acquisition of Clayton.
      </li>
    </ul>
    <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 our 2015 Form 10-K, and in our subsequent
      quarterly and other reports filed from time to time with the SEC. 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 report. 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,<b> </b>215-231-1035<br><u>emily.riley@radian.biz</u>
    </p>
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