Radian (RDN) Boosts Mortgage Service With Mortgage Cadence
Radian Group Inc. RDN recently announced an expanded integration with an Accenture PLC ACN owned company, Mortgage Cadence. This will help to consolidate the title and settlement services within the Mortgage Cadence Platform.
The title and settlement services are provided by Radian Settlement Services Inc., which is an indirect subsidiary of Radian Group.
This Radian integration will enable the clients of Mortgage Cadence to leverage the wide range of insured and non-insured title and settlement services provided by Radian Group and its subsidiaries by means of Mortgage Cadence’s Collaboration Center. The Collaboration Center enables mortgage lenders to work smoothly.
Moreover, the clients of Mortgage Cadence will get the benefit of industry-leading mortgage insurance services of the multi-line insurer.
Radian’s Real Estate business is driven primarily by digital products and services and digital solutions. This segment offers a broad array of services that include title, title insurance and non-insurance title, closing and settlement services offered primarily to mortgage lenders.
The move is in tandem with Radian’s continued focus on digital solutions to bolster the mortgage and real estate transaction of its customers and borrowers. The company remains focused on improving its mortgage insurance portfolio as well as on making strategic investments on title and digital real estate businesses to drive long-term earnings growth. Radian presently estimates the private mortgage insurance market to be between $550 billion and $600 billion in 2021, the second-highest mortgage insurance volume year in history. The company thus remain posed to benefit from the opportunity.
The further addition of title and settlement services to the prevailing mortgage insurance offerings on the Mortgage Cadence Platform should enhance the electronic transmission of data and reports.
Shares of this Zacks Rank #3 (Hold) insurer have gained 49.2% in a year’s time, outperforming the industry's increase of 36.8%.
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Key Players
Some better-ranked players in the multi-line insurance industry are MetLife, Inc. MET and Old Republic International Corporation ORI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MetLife surpassed estimates in three of the last four quarters and missed in one, with the average beat being 18.16%.
Old Republic surpassed estimates in each of the last four quarters, with the average earnings surprise being 53.01%.
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