Radian (RDN) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
Document Information [Line Items]
Entity Registrant Name	Radian Group Inc.
Entity Central Index Key	890,926
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		215,095,131
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) Statement - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Fixed-maturities available for sale—at fair value (amortized cost $2,941,528 and $2,856,468)	$ 2,937,415	$ 2,838,512
Equity securities available for sale—at fair value (cost $1,330 and $1,330)	1,330	1,330
Trading securities—at fair value	811,313	879,862
Short-term investments—at fair value	686,685	741,531
Other invested assets	973	1,195
Total investments	4,437,716	4,462,430
Cash	73,701	52,149
Restricted cash	12,689	9,665
Accounts and notes receivable	73,794	77,631
Deferred income taxes, net (Note 9)	369,209	411,798
Goodwill and other intangible assets, net (Note 6)	273,068	276,228
Prepaid reinsurance premium	230,148	229,438
Other assets (Note 8)	357,435	343,835
Total assets	5,827,760	5,863,174
Liabilities and Stockholders’ Equity
Unearned premiums	684,797	681,222
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)	726,169	760,269
Long-term debt (Note 11)	1,008,777	1,069,537
Reinsurance funds withheld	167,427	158,001
Other liabilities	319,282	321,859
Total liabilities	2,906,452	2,990,888
Commitments and contingencies (Note 12)
Equity component of currently redeemable convertible senior notes (Note 11)	883	0
Stockholders’ equity
Common stock: par value $.001 per share; 485,000,000 shares authorized at March 31, 2017 and December 31, 2016; 232,663,818 and 232,091,921 shares issued at March 31, 2017 and December 31, 2016, respectively; 215,090,781 and 214,521,079 shares outstanding at March 31, 2017 and December 31, 2016, respectively	233	232
Treasury stock, at cost: 17,573,037 and 17,570,842 shares at March 31, 2017 and December 31, 2016, respectively	(893,372)	(893,332)
Additional paid-in capital	2,743,594	2,779,891
Retained earnings	1,073,333	997,890
Accumulated other comprehensive income (loss) (“AOCI”) (Note 14)	(3,363)	(12,395)
Total stockholders’ equity	2,920,425	2,872,286
Total liabilities and stockholders’ equity	$ 5,827,760	$ 5,863,174

Balance Sheet Parenthetical (Pa

Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale Debt Securities, Amortized Cost Basis	$ 2,941,528	$ 2,856,468
Available-for-sale Equity Securities, Amortized Cost Basis	$ 1,330	$ 1,330
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	485,000,000	485,000,000
Common Stock, Shares, Issued	232,663,818	232,091,921
Common Stock, Shares, Outstanding	215,090,781	214,521,079
Treasury Stock, Shares	17,573,037	17,570,842

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Net premiums earned—insurance	$ 221,800	$ 220,950
Services revenue	38,027	32,849
Net investment income	31,032	27,201
Net gains (losses) on investments and other financial instruments	(2,851)	31,286
Other income	746	666
Total revenues	288,754	312,952
Expenses:
Provision for losses	46,913	42,991
Policy acquisition costs	6,729	6,389
Cost of services	28,375	23,550
Other operating expenses	68,377	57,188
Interest expense	15,938	21,534
Loss on induced conversion and debt extinguishment (Note 11)	4,456	55,570
Amortization and impairment of intangible assets	3,296	3,328
Total expenses	174,084	210,550
Pretax income	114,670	102,402
Income tax provision	38,198	36,153
Net income	$ 76,472	$ 66,249
Earnings Per Share, Basic [Abstract]
Basic net income per share	$ 0.36	$ 0.33
Earnings Per Share, Diluted [Abstract]
Diluted net income per share	$ 0.34	$ 0.29
Weighted-average number of common shares outstanding—basic	214,925	203,706
Weighted-average number of common and common equivalent shares outstanding—diluted	221,497	239,707
Dividends per share	$ 0.0025	$ 0.0025

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 76,472	$ 66,249
Unrealized gains (losses) on investments:
Unrealized holding gains (losses) arising during the period	7,367	39,374
Less: Reclassification adjustment for net gains (losses) included in net income	(1,631)	(2,157)
Net unrealized gains (losses) on investments	8,998	41,531
Net foreign currency translation adjustments	34	(85)
Net actuarial gains (losses)	0	(178)
Other comprehensive income (loss), net of tax	9,032	41,268
Comprehensive income	$ 85,504	$ 107,517

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Common Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Parent	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income
Balance, beginning of period at Dec. 31, 2015			$ 224	$ (893,176)	$ 2,716,618	$ 691,742	$ (18,477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under incentive and benefit plans			0
Share-based compensation					4,612
Issuance of common stock under incentive and benefit plans					659
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)					151,639
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)			17
Change in equity component of currently redeemable convertible senior notes					0
Shares repurchased under share repurchase program (Note 13)			(9)		(100,179)
Repurchases of common stock under incentive plans				0
Net income	$ 66,249					66,249
Dividends declared						(789)
Net foreign currency translation adjustment, net of tax	(85)						(85)
Net unrealized gains (losses) on investments, net of tax	41,531						41,531
Net actuarial gains (losses)	(178)						(178)
Balance, end of period at Mar. 31, 2016		$ 2,660,398	232	(893,176)	2,773,349	757,202	22,791
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of the accounting standard update for share-based payment transactions					0	0
Balance, beginning of period at Dec. 31, 2016	2,872,286		232	(893,332)	2,779,891	997,890	(12,395)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under incentive and benefit plans			1
Share-based compensation					3,222
Issuance of common stock under incentive and benefit plans					3,548
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)					(42,940)
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)			0
Change in equity component of currently redeemable convertible senior notes					(883)
Shares repurchased under share repurchase program (Note 13)			0		0
Repurchases of common stock under incentive plans				(40)
Net income	76,472					76,472
Dividends declared						(538)
Net foreign currency translation adjustment, net of tax	34						34
Net unrealized gains (losses) on investments, net of tax	8,998						8,998
Net actuarial gains (losses)	0						0
Balance, end of period at Mar. 31, 2017	$ 2,920,425	$ 2,920,425	$ 233	$ (893,372)	2,743,594	1,073,333	$ (3,363)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of the accounting standard update for share-based payment transactions					$ 756	$ (491)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Cash Provided by (Used in) Operating Activities	$ 83,932	$ 38,929
Cash flows from investing activities:
Proceeds from Sale and Maturity of Fixed-Maturity Investments Available-for-sale	253,121	111,099
Proceeds from Sale of Available-for-sale Securities, Equity	0	74,868
Proceeds from Sale of Trading Securities Held-for-investment	46,688	65,163
Proceeds from Redemption of Fixed-Maturity Investments Available-for-sale	123,683	58,856
Proceeds from Redemption of Trading Securities Held-for-investment	19,543	34,105
Purchases of Fixed-Maturity Investments Available-for-sale	(444,873)	(753,660)
Sales, Redemptions and (Purchases) of Short-term Investments	57,923	341,365
Sales, Redemptions and (Purchases) of Other assets and other invested assets, net	222	132
Purchases of property and equipment, net	(7,687)	(6,518)
Acquisitions, net of cash acquired	(86)	0
Net cash provided by (used in) investing activities	48,534	(74,590)
Cash flows from financing activities:
Dividends paid	(538)	(497)
Issuance of long-term debt, net	0	344,139
Purchases and redemptions of long-term debt	(110,160)	(192,722)
Issuance of common stock	2,865	24
Purchase of common shares	0	(100,188)
Excess tax benefits from share-based awards (Note 1)	0	20
Repayment of other borrowings	(81)	(108)
Net cash provided by (used in) financing activities	(107,914)	50,668
Effect of exchange rate changes on cash and restricted cash	24	(1)
Increase (decrease) in cash and restricted cash	24,576	15,006
Cash and restricted cash, beginning of period	61,814	59,898
Cash and restricted cash, end of period	$ 86,390	$ 74,904

Note 1 - Condensed Consolidated

Note 1 - Condensed Consolidated Financial Statements - Business Overview and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Condensed Consolidated Financial Statements—Business Overview and Significant Accounting Policies Business Overview We provide mortgage insurance on first-lien mortgage loans, and products and services to the real estate and mortgage finance industries through our two business segments—Mortgage Insurance and Services. Mortgage Insurance Our Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance, to mortgage lending institutions nationwide. Private mortgage insurance helps protect mortgage lenders and third-party beneficiaries by mitigating default-related losses on residential mortgage loans. Generally, these loans are made to home buyers who make down payments of less than 20% of the purchase price for their homes. Private mortgage insurance also facilitates the sale of these low down payment mortgage loans in the secondary mortgage market, most of which are sold to the GSEs. Our Mortgage Insurance segment currently offers primary mortgage insurance coverage on residential first-lien mortgage loans, which comprised 98.0% of our $48.4 billion total direct RIF as of March 31, 2017 . At March 31, 2017 , Pool Insurance represented 1.9% of our total direct RIF. We provide our mortgage insurance products and services mainly through our wholly-owned subsidiary, Radian Guaranty. The GSEs and state insurance regulators impose various capital and financial requirements on our insurance subsidiaries. These include Risk-to-capital, other risk-based capital measures and surplus requirements, as well as the PMIERs financial requirements. Failure to comply with these capital and financial requirements may limit the amount of insurance that our insurance subsidiaries may write. The GSEs and state insurance regulators also possess significant discretion with respect to our insurance subsidiaries and their business. See Note 15 for additional regulatory information. Private mortgage insurers, including Radian Guaranty, are required to comply with the PMIERs to remain eligible insurers of loans purchased by the GSEs. At March 31, 2017 , Radian Guaranty is an approved mortgage insurer under the PMIERs and is in compliance with the PMIERs financial requirements. The PMIERs are comprehensive, covering virtually all aspects of a private mortgage insurer’s business and operations, including internal risk management and quality controls, the relationship between the GSEs and the approved insurer as well as the approved insurer’s financial condition. The GSEs have a broad range of consent rights to approve various actions of the approved insurer. If Radian Guaranty is unable to satisfy the requirements set forth in the PMIERs, the GSEs could restrict it from conducting certain types of business with them or take actions that may include not purchasing loans insured by Radian Guaranty. See Note 1 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for additional information about the PMIERs. Services Our Services segment provides services and solutions to the real estate and mortgage finance industries. Our Services segment provides analytics and outsourced services, including residential loan due diligence and underwriting, valuations, servicing surveillance, title and escrow, and consulting services. We provide these services to buyers and sellers of, and investors in, mortgage- and real estate-related loans and securities as well as other consumer ABS. These services and solutions are provided primarily through Clayton and its subsidiaries, including Green River Capital, Red Bell and ValuAmerica. The primary lines of business in our Services segment include: • loan review, underwriting and due diligence; • real estate valuation and component services that provide outsourcing and technology solutions for the SFR and residential real estate markets, as well as outsourced solutions for appraisal, title and closing services; • surveillance services, including surveillance services for RMBS and other consumer ABS, loan servicer oversight, loan-level servicing compliance reviews and operational reviews of mortgage servicers and originators; • REO management services; and • services for the United Kingdom and European mortgage markets through our EuroRisk operations. First Quarter 2017 Developments During the first quarter of 2017, we settled our obligations on the remaining $68.0 million aggregate principal amount of our Convertible Senior Notes due 2019. The obligations were settled on January 27, 2017 for a cash payment of $110.1 million and resulted in a loss on induced conversion and debt extinguishment of $4.5 million for the three months ended March 31, 2017 . As of the settlement date, this transaction resulted in an aggregate decrease of 6.4 million diluted shares for purposes of determining diluted net income per share. See Note 11 for additional information. Significant Accounting Policies Basis of Presentation Our condensed consolidated financial statements include the accounts of Radian Group Inc. and its subsidiaries. We refer to Radian Group Inc. together with its consolidated subsidiaries as “Radian,” the “Company,” “we,” “us” or “our,” unless the context requires otherwise. We generally refer to Radian Group Inc. alone, without its consolidated subsidiaries, as “Radian Group.” Unless otherwise defined in this report, certain terms and acronyms used throughout this report are defined in the Glossary of Abbreviations and Acronyms included as part of this report. Our condensed consolidated financial statements are prepared in accordance with GAAP and include the accounts of all wholly-owned subsidiaries. All intercompany accounts and transactions, and intercompany profits and losses, have been eliminated. We have condensed or omitted certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP pursuant to the instructions set forth in Article 10 of Regulation S-X of the SEC. The financial information presented for interim periods is unaudited; however, such information reflects all adjustments that are, in the opinion of management, necessary for the fair statement of the financial position, results of operations, comprehensive income and cash flows for the interim periods presented. Such adjustments are of a normal recurring nature. The year-end condensed balance sheet data was derived from our audited financial statements, but does not include all disclosures required by GAAP. These interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in our 2016 Form 10-K. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or for any other period. Certain prior period amounts have been reclassified to conform to current period presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of our contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. While the amounts included in our condensed consolidated financial statements include our best estimates and assumptions, actual results may vary materially. Other Significant Accounting Policies See Note 2 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for information regarding other significant accounting policies. Recent Accounting Pronouncements Accounting Standards Adopted During 2017. In March 2016, the FASB issued an update to the accounting standards for share-based payment transactions, including: (i) accounting for income taxes; (ii) classification of excess tax benefits on the statement of cash flows; (iii) forfeitures; (iv) minimum statutory tax withholding requirements; (v) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (vi) the practical expedient for estimating the expected term; and (vii) intrinsic value. Among other things, the update requires: (i) all excess tax benefits and tax deficiencies to be recognized as income tax expense or benefit in the income statement as they occur; (ii) recognition of excess tax benefits, regardless of whether the benefits reduce taxes payable in the current period; and (iii) excess tax benefits to be classified along with other cash flows as an operating activity, rather than separated from other income tax cash flows as a financing activity. This update is effective for public companies for fiscal years beginning after December 15, 2016. Our adoption of this update, effective January 1, 2017, had an immaterial impact on our financial statements at implementation. As a result of implementing this new standard, however, we expect the potential for limited increased volatility in our effective tax rate and net earnings, and possible additional dilution in earnings per share calculations. Accounting Standards Not Yet Adopted. In May 2014, the FASB issued an update to the accounting standard regarding revenue recognition. In accordance with the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This update is not expected to change revenue recognition principles related to our investments and insurance products, which combined represent a significant portion of our total revenues. This update is primarily applicable to revenues from our Services segment. In July 2015, the FASB delayed the effective date for this updated standard for public companies to interim and annual periods beginning after December 15, 2017, and subsequently issued various clarifying updates. Early adoption is permitted. This standard permits the use of the retrospective or cumulative effective transition method. We are currently in the process of categorizing the Services revenues to evaluate the impact to our financial statements and future disclosures as a result of the updates. In January 2016, the FASB issued an update that makes certain changes to the standard for the accounting of financial instruments. Among other things, the update requires: (i) equity investments to be measured at fair value with changes in fair value recognized in net income; (ii) the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (iii) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (iv) separate presentation in other comprehensive income of the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The update also eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. This update is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted, with the exception of the “own credit” provision. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update, but we do not expect the impact to be material due to our currently insignificant investments in equity securities and our investment strategy. In February 2016, the FASB issued an update that replaces the existing accounting and disclosure requirements for leases of property, plant and equipment. The update requires lessees to recognize, as of the lease commencement date, assets and liabilities for all leases with lease terms of more than 12 months, which is a change from the current GAAP requirement to recognize only capital leases on the balance sheet. Pursuant to the new standard, the liability initially recognized for the lease obligation is equal to the present value of the lease payments not yet made, discounted over the lease term at the implicit interest rate of the lease, if available, or otherwise at the lessee’s incremental borrowing rate. The lessee is also required to recognize an asset for its right to use the underlying asset for the lease term, based on the liability subject to certain adjustments, such as for initial direct costs. Leases are required to be classified as either operating or finance, with expense on operating leases recorded as a single lease cost on a straight-line basis. For finance leases, interest expense on the lease liability is required to be recognized separately from the straight-line amortization of the right-of-use asset. Quantitative disclosures are required for certain items, including the cost of leases, the weighted-average remaining lease term, the weighted-average discount rate and a maturity analysis of lease liabilities. Additional qualitative disclosures are also required regarding the nature of the leases, such as basis, terms and conditions of: (i) variable interest payments; (ii) extension and termination options; and (iii) residual value guarantees. This update is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted by applying the new guidance as of the beginning of the earliest comparative period presented, using a modified retrospective transition approach with certain optional practical expedients. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In June 2016, the FASB issued an update to the accounting standard regarding the measurement of credit losses on financial instruments. This update requires that financial assets measured at their amortized cost basis be presented at the net (of allowance for credit losses) amount expected to be collected. Credit losses relating to available-for-sale debt securities are to be recorded through an allowance for credit losses, rather than a write-down of the asset, with the amount of the allowance limited to the amount by which fair value is less than amortized cost. This update is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In October 2016, the FASB issued an update to the accounting standard regarding the accounting for income taxes. This update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update will be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. This update is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in the first interim period of the adoption year. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In January 2017, the FASB issued an update to the accounting standard regarding goodwill and other intangibles. This update simplifies the subsequent measurement of goodwill by eliminating step two of the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for any excess of the reporting unit’s carrying amount over the reporting unit’s estimated fair value. The provisions of this update are effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We intend to early adopt this update, effective as of our next quantitative goodwill impairment test. In March 2017, the FASB issued an update to the accounting standard regarding receivables. The new standard requires certain premiums on purchased callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted. The provisions of this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update.

Note 2 - Net Income Per Share

Note 2 - Net Income Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding, while diluted net income per share is computed by dividing net income attributable to common shareholders by the sum of the weighted-average number of common shares outstanding and the weighted-average number of dilutive potential common shares. Dilutive potential common shares relate to our share-based compensation arrangements and our outstanding convertible senior notes. The calculation of basic and diluted net income per share was as follows: Three Months Ended (In thousands, except per-share amounts) 2017 2016 Net income—basic $ 76,472 $ 66,249 Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1) (215 ) 3,390 Net income—diluted $ 76,257 $ 69,639 Average common shares outstanding—basic 214,925 203,706 Dilutive effect of Convertible Senior Notes due 2017 (2) 701 — Dilutive effect of Convertible Senior Notes due 2019 1,854 33,583 Dilutive effect of share-based compensation arrangements (2) 4,017 2,418 Adjusted average common shares outstanding—diluted 221,497 239,707 Net income per share: Basic $ 0.36 $ 0.33 Diluted $ 0.34 $ 0.29 ______________________ (1) As applicable, includes coupon interest, amortization of discount and fees, and other changes in income or loss that would result from the assumed conversion. Due to the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019, a benefit was recorded to adjust estimated accrued expense to actual amounts. (2) The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and convertible debt were not included in the calculation of diluted net income per share because they were anti-dilutive: Three Months Ended (In thousands) 2017 2016 Shares of common stock equivalents 445 709 Shares of Convertible Senior Notes due 2017 — 1,902

Note 3 - Segment Reporting

Note 3 - Segment Reporting	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We have two strategic business units that we manage separately—Mortgage Insurance and Services. Adjusted pretax operating income (loss) for each segment represents segment results on a standalone basis; therefore, inter-segment eliminations and reclassifications required for consolidated GAAP presentation have not been reflected. In the fourth quarter of 2016, we completed an organizational change that resulted in a change to our segment financial reporting structure. Previously, contract underwriting activities on behalf of third parties were reported in either the Mortgage Insurance segment or the Services segment, based on the customer relationship. Management responsibility for this contract underwriting business was moved entirely to the Services segment. This organizational change resulted in the transfer to the Services segment of revenue and expenses for all contract underwriting performed on behalf of third parties. This change aligns with recent changes in personnel reporting lines and management oversight, and is consistent with the way the chief operating decision maker began assessing the performance of the reportable segments in the fourth quarter of 2016. As a result, on a segment basis, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. This change has been reflected in our segment operating results. Mortgage Insurance underwriting continues to be reported as an expense in the Mortgage Insurance segment. We include underwriting-related expenses for mortgage insurance, based on a pro-rata volume of mortgage applications excluding third-party contract underwriting services, in our Mortgage Insurance segment’s other operating expenses before corporate allocations. We include underwriting-related expenses for third-party contract underwriting services, based on a pro-rata volume of mortgage applications, in our Services segment’s cost of services and other operating expenses before corporate allocations, as applicable. We allocate to our Mortgage Insurance segment: (i) corporate expenses based on an allocated percentage of time spent on the Mortgage Insurance segment; (ii) all interest expense except for interest expense related to the Senior Notes due 2019 that were issued to fund our purchase of Clayton; and (iii) all corporate cash and investments. We allocate to our Services segment: (i) corporate expenses based on an allocated percentage of time spent on the Services segment and (ii) as noted above, all interest expense related to the Senior Notes due 2019. No material corporate cash or investments are allocated to the Services segment. Inter-segment activities are recorded at market rates for segment reporting and eliminated in consolidation. Adjusted Pretax Operating Income (Loss) Our senior management, including our Chief Executive Officer (Radian’s chief operating decision maker), uses adjusted pretax operating income (loss) as our primary measure to evaluate the fundamental financial performance of each of Radian’s business segments and to allocate resources to the segments. Adjusted pretax operating income (loss) is defined as pretax income (loss) excluding 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. 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: (i) not viewed as part of the operating performance of our primary activities or (ii) not expected to result in an economic impact equal to the amount reflected in consolidated pretax income (loss). These adjustments, along with the reasons for their treatment, are described below. (1) Net gains (losses) on investments and other financial instruments. 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 securities. These valuation adjustments may not necessarily result in realized economic gains or losses. 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). (2) Loss on induced conversion and debt extinguishment. 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). (3) Acquisition-related expenses. 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). (4) Amortization and impairment of intangible assets. 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). (5) Net impairment losses recognized in earnings. 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). Summarized operating results for our segments as of and for the periods indicated, are as follows: Three Months Ended (In thousands) 2017 2016 (1) Mortgage Insurance Net premiums written—insurance (2) $ 224,665 $ 26,310 (Increase) decrease in unearned premiums (2,865 ) 194,640 Net premiums earned—insurance 221,800 220,950 Net investment income 31,032 27,201 Other income 746 666 Total (3) 253,578 248,817 Provision for losses 47,232 43,275 Policy acquisition costs 6,729 6,389 Other operating expenses before corporate allocations 39,289 32,546 Total (4) 93,250 82,210 Adjusted pretax operating income before corporate allocations 160,328 166,607 Allocation of corporate operating expenses 14,186 9,329 Allocation of interest expense 11,509 17,112 Adjusted pretax operating income $ 134,633 $ 140,166 ______________________ (1) Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. (2) Net of ceded premiums written under the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information. (3) Excludes net losses on investments and other financial instruments of $2.9 million for the three months ended March 31, 2017 , and net gains on investments and other financial instruments of $31.3 million for the three months ended March 31, 2016 , not included in adjusted pretax operating income. (4) Includes inter-segment expenses as follows: Three Months Ended (In thousands) 2017 2016 Inter-segment expenses $ 2,062 $ 1,599 Three Months Ended (In thousands) 2017 2016 (1) Services Services revenue (2) $ 40,089 $ 34,448 Cost of services 28,690 23,854 Other operating expenses before corporate allocations 12,604 14,368 Total 41,294 38,222 Adjusted pretax operating income (loss) before corporate allocations (1,205 ) (3,774 ) Allocation of corporate operating expenses 3,718 1,751 Allocation of interest expense 4,429 4,422 Adjusted pretax operating income (loss) $ (9,352 ) $ (9,947 ) ______________________ (1) Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. (2) Includes inter-segment revenues as follows: Three Months Ended (In thousands) 2017 2016 Inter-segment revenues $ 2,062 $ 1,599 Selected balance sheet information for our segments, as of the periods indicated, is as follows: At March 31, 2017 (In thousands) Mortgage Insurance Services Total Total assets $ 5,475,502 $ 352,258 $ 5,827,760 At December 31, 2016 (In thousands) Mortgage Insurance Services Total Total assets $ 5,506,338 $ 356,836 $ 5,863,174 The reconciliation of adjusted pretax operating income to consolidated pretax income is as follows: Three Months Ended (In thousands) 2017 2016 Adjusted pretax operating income (loss): Mortgage Insurance (1) $ 134,633 $ 140,166 Services (1) (9,352 ) (9,947 ) Total adjusted pretax operating income 125,281 130,219 Net gains (losses) on investments and other financial instruments (2,851 ) 31,286 Loss on induced conversion and debt extinguishment (4,456 ) (55,570 ) Acquisition-related expenses (2) (8 ) (205 ) Amortization and impairment of intangible assets (3,296 ) (3,328 ) Consolidated pretax income $ 114,670 $ 102,402 ______________________ (1) Includes inter-segment expenses and revenues as listed in the notes to the preceding tables. (2) Acquisition-related expenses represent expenses incurred to effect the acquisition of a business, net of adjustments to accruals previously recorded for acquisition expenses. On a consolidated basis, “adjusted pretax operating income” is a measure not determined in accordance with GAAP. Total adjusted pretax operating income is not a measure of total profitability, and therefore should not be viewed as a substitute for GAAP pretax income. Our definition of adjusted pretax operating income may not be comparable to similarly-named measures reported by other companies.

Note 4 - Fair Value of Financia

Note 4 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Available for sale securities, trading securities and certain other assets are recorded at fair value. All changes in the fair value of trading securities and certain other assets are included in our condensed consolidated statements of operations. All changes in the fair value of available for sale securities are recorded in AOCI. There were no significant changes to our fair value methodologies during the three months ended March 31, 2017 . In accordance with GAAP, we established a three-level valuation hierarchy for disclosure of fair value measurements based on the transparency of inputs to the valuation of an asset or liability as of the measurement date. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the measurement in its entirety. The three levels of the fair value hierarchy are defined below: Level I — Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level II — Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities; and Level III — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. Level III inputs are used to measure fair value only to the extent that observable inputs are not available. The level of market activity used to determine the fair value hierarchy is based on the availability of observable inputs market participants would use to price an asset or a liability, including market value price observations. We provide a qualitative description of the valuation techniques and inputs used for recurring and non-recurring fair value measurements in our audited financial statements and notes thereto included in our 2016 Form 10-K. For a complete understanding of the valuation techniques and inputs used as of March 31, 2017 , these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our 2016 Form 10-K. The following is a list of assets that are measured at fair value by hierarchy level as of March 31, 2017 : (In thousands) Level I Level II Level III Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 267,524 $ 4,906 $ — $ 272,430 State and municipal obligations — 341,197 — 341,197 Money market instruments 384,225 — — 384,225 Corporate bonds and notes — 2,115,001 — 2,115,001 RMBS — 309,460 — 309,460 CMBS — 473,505 — 473,505 Other ABS — 488,340 — 488,340 Foreign government and agency securities — 38,035 — 38,035 Equity securities — 830 500 1,330 Other investments (1) — 12,720 500 13,220 Total Investments at Fair Value (2) 651,749 3,783,994 1,000 4,436,743 Total Assets at Fair Value $ 651,749 $ 3,783,994 $ 1,000 $ 4,436,743 ______________________ (1) Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III. (2) Does not include certain other invested assets ( $1.0 million ), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value. The following is a list of assets that are measured at fair value by hierarchy level as of December 31, 2016 : (In thousands) Level I Level II Level III Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 237,479 $ — $ — $ 237,479 State and municipal obligations — 358,536 — 358,536 Money market instruments 431,472 — — 431,472 Corporate bonds and notes — 2,024,205 — 2,024,205 RMBS — 388,842 — 388,842 CMBS — 507,273 — 507,273 Other ABS — 450,128 — 450,128 Foreign government and agency securities — 32,807 — 32,807 Equity securities — 830 500 1,330 Other investments (1) — 28,663 500 29,163 Total Investments at Fair Value (2) 668,951 3,791,284 1,000 4,461,235 Total Assets at Fair Value $ 668,951 $ 3,791,284 $ 1,000 $ 4,461,235 ______________________ (1) Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III. (2) Does not include certain other invested assets ( $1.2 million ), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value. At both March 31, 2017 and December 31, 2016 , total Level III assets of $1.0 million accounted for less than 0.1% of total assets measured at fair value. Within other investments is a Level III investment which was purchased during the three months ended June 30, 2016, and there were no related gains or losses recorded during the three months ended March 31, 2017 or the year ended December 31, 2016. Within equity securities is a Level III investment that was purchased during the three months ended June 30, 2015, and there were no related gains or losses recorded during the three months ended March 31, 2017 or the year ended December 31, 2016 . There were no Level III liabilities at March 31, 2017 or December 31, 2016 . There were no transfers between Level I and Level II for the three months ended March 31, 2017 and 2016 . There were also no transfers involving Level III assets or liabilities for the three months ended March 31, 2017 and 2016 . Other Fair Value Disclosure The carrying value and estimated fair value of other selected assets and liabilities not carried at fair value on our condensed consolidated balance sheets were as follows as of the dates indicated: March 31, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Other invested assets $ 973 $ 3,751 $ 1,195 $ 3,789 Liabilities: Long-term debt 1,008,777 1,104,711 1,069,537 1,214,471

Note 5 - Investments

Note 5 - Investments	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	Investments Available for Sale Securities Our available for sale securities within our investment portfolio consisted of the following as of the dates indicated: March 31, 2017 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 128,347 $ 125,466 $ 279 $ 3,160 State and municipal obligations 67,600 69,284 2,316 632 Corporate bonds and notes 1,555,516 1,556,643 17,823 16,696 RMBS 278,710 273,549 445 5,606 CMBS 402,847 402,525 2,248 2,570 Other ABS 477,251 478,099 1,945 1,097 Foreign government and agency securities 29,257 29,849 645 53 Other investments 2,000 2,000 — — Total fixed-maturities available for sale 2,941,528 2,937,415 25,701 29,814 Equity securities available for sale (1) 1,330 1,330 — — Total debt and equity securities $ 2,942,858 $ 2,938,745 $ 25,701 $ 29,814 ______________________ (1) Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh. December 31, 2016 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 78,931 $ 75,474 $ 2 $ 3,459 State and municipal obligations 66,124 67,171 1,868 821 Corporate bonds and notes 1,463,720 1,455,628 14,320 22,412 RMBS 358,262 350,628 197 7,831 CMBS 429,057 428,289 2,255 3,023 Other ABS 433,603 434,728 2,037 912 Foreign government and agency securities 24,771 24,594 148 325 Other investments 2,000 2,000 — — Total fixed-maturities available for sale 2,856,468 2,838,512 20,827 38,783 Equity securities available for sale (1) 1,330 1,330 — — Total debt and equity securities $ 2,857,798 $ 2,839,842 $ 20,827 $ 38,783 ______________________ (1) Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh. Gross Unrealized Losses and Fair Value of Available for Sale Securities The following tables show the gross unrealized losses and fair value of our securities deemed “available for sale” aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated: March 31, 2017 ( $ in thousands ) Description of Securities Less Than 12 Months 12 Months or Greater Total # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses U.S. government and agency securities 9 $ 74,457 $ 3,160 — $ — $ — 9 $ 74,457 $ 3,160 State and municipal obligations 5 19,981 632 — — — 5 19,981 632 Corporate bonds and notes 150 620,609 16,360 2 4,471 336 152 625,080 16,696 RMBS 54 217,577 5,541 3 7,308 65 57 224,885 5,606 CMBS 38 186,354 2,519 3 9,924 51 41 196,278 2,570 Other ABS 75 186,578 949 5 21,978 148 80 208,556 1,097 Foreign government and agency securities 4 4,321 53 — — — 4 4,321 53 Total 335 $ 1,309,877 $ 29,214 13 $ 43,681 $ 600 348 $ 1,353,558 $ 29,814 December 31, 2016 ( $ in thousands ) Description of Securities Less Than 12 Months 12 Months or Greater Total # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses U.S. government and agency securities 7 $ 73,160 $ 3,459 — $ — $ — 7 $ 73,160 $ 3,459 State and municipal obligations 7 30,901 821 — — — 7 30,901 821 Corporate bonds and notes 185 788,876 22,135 2 4,582 277 187 793,458 22,412 RMBS 56 311,031 7,822 1 1,398 9 57 312,429 7,831 CMBS 37 218,170 2,909 2 6,585 114 39 224,755 3,023 Other ABS 58 131,268 470 16 45,886 442 74 177,154 912 Foreign government and agency securities 12 13,034 325 — — — 12 13,034 325 Total 362 $ 1,566,440 $ 37,941 21 $ 58,451 $ 842 383 $ 1,624,891 $ 38,783 During the three months ended March 31, 2017 and the year ended December 31, 2016 , we did not recognize in earnings any impairment losses related to credit deterioration. Although we held securities in an unrealized loss position as of March 31, 2017 , we did not consider them to be other-than-temporarily impaired as of such date. For all investment categories, the unrealized losses of 12 months or greater duration as of March 31, 2017 were generally caused by interest rate or credit spread movements since the purchase date, and as such, we expect the present value of cash flows to be collected from these securities to be sufficient to recover the amortized cost basis of these securities. As of March 31, 2017 , we did not have the intent to sell any debt securities in an unrealized loss position, and we determined that it is more likely than not that we will not be required to sell the securities before recovery of their cost basis, which may be at maturity; therefore, we did not consider these investments to be other-than-temporarily impaired at March 31, 2017 . Trading Securities The trading securities within our investment portfolio, which are recorded at fair value, consisted of the following as of the dates indicated: (In thousands) March 31, December 31, Trading securities: U.S. government and agency securities $ 33,006 $ 33,042 State and municipal obligations 235,864 259,573 Corporate bonds and notes 420,633 453,617 RMBS 35,911 38,214 CMBS 70,980 78,984 Other ABS 6,733 8,219 Foreign government and agency securities 8,186 8,213 Total $ 811,313 $ 879,862 For trading securities held at March 31, 2017 and December 31, 2016 , we had net unrealized gains associated with those securities of $3.5 million and $16.8 million during the three months ended March 31, 2017 and the year ended December 31, 2016 , respectively. For the three months ended March 31, 2017 , we did not transfer any securities from the available for sale or trading categories. Net Gains (Losses) on Investments and Other Financial Instruments Net realized and unrealized gains (losses) on investments and other financial instruments consisted of: Three Months Ended March 31, (In thousands) 2017 2016 Net realized gains (losses): Fixed-maturities available for sale $ (2,509 ) $ (3,148 ) Equity securities available for sale — (170 ) Trading securities (5,694 ) (2,240 ) Short-term investments 6 (39 ) Other gains (losses) 18 18 Net realized gains (losses) on investments (8,179 ) (5,579 ) Unrealized gains (losses) on trading securities 5,226 35,231 Total net gains (losses) on investments (2,953 ) 29,652 Net gains (losses) on other financial instruments 102 1,634 Net gains (losses) on investments and other financial instruments $ (2,851 ) $ 31,286 Contractual Maturities The contractual maturities of fixed-maturity investments were as follows: March 31, 2017 Available for Sale (In thousands) Amortized Cost Fair Value Due in one year or less (1) $ 65,472 $ 65,502 Due after one year through five years (1) 411,562 414,006 Due after five years through 10 years (1) 905,821 901,736 Due after 10 years (1) 399,864 401,998 RMBS (2) 278,710 273,549 CMBS (2) 402,848 402,525 Other ABS (2) 477,251 478,099 Total $ 2,941,528 $ 2,937,415 ______________________ (1) Actual maturities may differ as a result of calls before scheduled maturity. (2) RMBS, CMBS and Other ABS are shown separately, as they are not due at a single maturity date. Other At March 31, 2017 and December 31, 2016 , Radian Guaranty had $64.3 million and $63.9 million , respectively, in a collateral account pursuant to the Freddie Mac Agreement. This collateral account, which contains investments primarily invested in and classified as part of our trading securities, is pledged to cover Loss Mitigation Activity on the loans subject to the Freddie Mac Agreement. See Note 10 for additional information.

Note 6 - Goodwill and Other Int

Note 6 - Goodwill and Other Intangible Assets, Net	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net All of our goodwill and other intangible assets relate to our Services segment. The following table shows the changes in the carrying amount of goodwill for the year-to-date periods ended March 31, 2017 and December 31, 2016 : (In thousands) Goodwill Accumulated Impairment Losses Net Balance at December 31, 2015 $ 197,265 $ (2,095 ) $ 195,170 Goodwill acquired — — — Impairment losses — — — Balance at December 31, 2016 197,265 (2,095 ) 195,170 Goodwill acquired 126 — 126 Impairment losses — — — Balance at March 31, 2017 $ 197,391 $ (2,095 ) $ 195,296 Goodwill is an asset representing the estimated future economic benefits arising from the assets we have acquired that were not individually identified and separately recognized, and includes the value of the discounted expected future cash flows, the workforce, expected synergies with our other affiliates and other unidentifiable intangible assets. Goodwill is deemed to have an indefinite useful life and is subject to review for impairment annually, or more frequently, whenever circumstances indicate potential impairment. Events that could result in an interim assessment of goodwill impairment and/or a potential impairment loss include, but are not limited to: (i) significant under-performance relative to historical or projected future operating results; (ii) significant changes in the strategy for the Services segment; (iii) significant negative industry or economic trends; and (iv) a decline in market capitalization below book value attributable to the Services segment. The value of goodwill is primarily supported by revenue projections, which are primarily driven by projected transaction volume and margins. Management regularly updates certain assumptions related to our projections, including the likelihood of achieving the assumed potential revenues from new initiatives and business strategies, and if these or other items have a significant negative impact on the reporting unit’s projections we may perform additional analysis to determine whether an impairment charge is needed. Lower earnings over sustained periods also can lead to impairment of goodwill, which could result in a charge to earnings. We conducted our most recent annual goodwill impairment analysis in the fourth quarter of 2016. For purposes of performing our annual goodwill impairment tests, we concluded that the Services segment constitutes one reporting unit to which all of our recorded goodwill is related. As part of this annual goodwill impairment assessment, we estimated the fair value of the reporting unit using primarily an income approach and, to a lesser extent, a market approach. The key factor in our fair value analysis was forecasted future cash flows, which were less than originally had been expected at the acquisition dates. Given that the current goodwill impairment analysis relies significantly on our achieving high growth rates in our projected future cash flows, failure to meet those projections may result in an impairment in a future period. In our annual goodwill analysis in the fourth quarter of 2016, we considered both positive and negative factors and concluded that, after considering all of the factors and evidence available, there was no impairment of goodwill as of December 31, 2016. The goodwill impairment test is a two-step process as required by the accounting standard related to intangible assets. Step one compares a reporting unit’s estimated fair value to its carrying value. If the carrying amount exceeds the estimated fair value, the second step must be completed to measure the amount of the reporting unit’s goodwill impairment loss, if any. At December 31, 2016, the estimated fair value of the Services reporting unit exceeded our carrying amount. We performed a qualitative assessment in the first quarter of 2017, and considered factors such as: (i) the decline in and timing of revenues during the first quarter of 2017 (as compared to the forecasted amounts for the same period); (ii) the low gross margin results during the first quarter of 2017 (as compared to the forecasted growth in margins); (iii) the recent improvements in revenue and gross margins throughout 2016; and (iv) our recent annual goodwill impairment test and conclusion that the estimated fair value of the Services reporting unit exceeded our carrying amount. Based on our qualitative assessment in the first quarter of 2017, we concluded that it is not “more likely than not” that the fair value of the Services reporting unit is less than its carrying amount as of March 31, 2017 . We monitor the performance of the Services segment each quarter, including through our annual impairment assessment planned for the fourth quarter of 2017. For our next quantitative impairment assessment, we intend to adopt the January 2017 FASB update to the accounting standard regarding goodwill and other intangibles. See Note 1—“ Accounting Standards Not Yet Adopted ” for more information. The following is a summary of the gross and net carrying amounts and accumulated amortization of our other intangible assets as of the periods indicated: March 31, 2017 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships $ 83,329 $ (21,952 ) $ 61,377 Technology 15,250 (6,125 ) 9,125 Trade name and trademarks 8,340 (2,346 ) 5,994 Client backlog 6,680 (5,427 ) 1,253 Non-competition agreements 185 (162 ) 23 Total $ 113,784 $ (36,012 ) $ 77,772 December 31, 2016 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships $ 83,316 $ (19,696 ) $ 63,620 Technology 15,250 (5,497 ) 9,753 Trade name and trademarks 8,340 (2,125 ) 6,215 Client backlog 6,680 (5,235 ) 1,445 Non-competition agreements 185 (160 ) 25 Total $ 113,771 $ (32,713 ) $ 81,058 The estimated aggregate amortization expense for the remainder of 2017 and thereafter is as follows (in thousands): 2017 $ 9,351 2018 12,054 2019 10,795 2020 9,186 2021 7,376 2022 6,533 Thereafter 22,477 Total $ 77,772 Generally, for tax purposes, substantially all of our goodwill and other intangible assets are deductible and will be amortized over a period of 15 years from acquisition.

Note 7 - Reinsurance

Note 7 - Reinsurance	3 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The effect of reinsurance on net premiums written and earned is as follows: Three Months Ended (In thousands) 2017 2016 Net premiums written—insurance: Direct $ 239,645 $ 233,926 Ceded (1) (14,980 ) (207,616 ) Net premiums written—insurance $ 224,665 $ 26,310 Net premiums earned—insurance: Direct $ 236,062 $ 240,330 Assumed 7 9 Ceded (1) (14,269 ) (19,389 ) Net premiums earned—insurance $ 221,800 $ 220,950 ______________________ (1) Net of profit commission. In 2012, Radian Guaranty entered into the QSR Transactions with a third-party reinsurance provider. Radian Guaranty has ceded the maximum amount permitted under the QSR Transactions; therefore, Radian Guaranty is no longer ceding NIW under these transactions. RIF ceded under the QSR Transactions was $1.5 billion and $2.0 billion as of March 31, 2017 and 2016 , respectively. In the first quarter of 2016, in order to proactively manage the risk and return profile of Radian Guaranty’s insured portfolio and manage its position under the PMIERs financial requirements in a cost-effective manner, Radian Guaranty entered into the Single Premium QSR Transaction with a panel of third-party reinsurers. RIF ceded under the Single Premium QSR Transaction was $3.9 billion and $3.3 billion as of March 31, 2017 and 2016 , respectively. See Note 8 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for more information about our reinsurance transactions. The following tables show the amounts related to the QSR Transactions and the Single Premium QSR Transaction for the periods indicated: QSR Transactions Three Months Ended (In thousands) 2017 2016 Ceded premiums written (1) $ 5,457 $ 7,962 Ceded premiums earned (1) 7,834 11,325 Ceding commissions written 1,559 2,270 Ceding commissions earned (3) 3,894 4,446 Ceded losses 570 541 Single Premium QSR Transaction Three Months Ended 2017 2016 $ 8,960 $ 197,593 (2) 5,859 5,994 3,712 50,932 2,937 3,032 573 536 ______________________ (1) Net of profit commission. (2) Includes ceded premiums for policies written in prior periods. See Note 8 of Notes to Consolidated Financial Statements in our 2016 Form 10-K. (3) Includes amounts reported in policy acquisition costs and other operating expenses.

Note 8 - Other Assets

Note 8 - Other Assets	3 Months Ended
	Mar. 31, 2017
Other Assets [Abstract]
Other Assets	Other Assets The following table shows the components of other assets as of the dates indicated: (In thousands) March 31, December 31, Deposit with the IRS (Note 9) $ 88,557 $ 88,557 Corporate-owned life insurance 83,865 83,248 Property and equipment (1) (2) 74,241 70,665 Accrued investment income 30,381 29,255 Deferred policy acquisition costs 13,724 14,127 Reinsurance recoverables 7,849 7,368 Other 58,818 50,615 Total other assets $ 357,435 $ 343,835 ______________________ (1) Property and equipment at cost, less accumulated depreciation of $122.6 million and $118.5 million at March 31, 2017 and December 31, 2016 , respectively. Depreciation expense was $4.1 million and $2.3 million for the three-month periods ended March 31, 2017 and 2016 , respectively. (2) Includes $48.4 million and $49.7 million at March 31, 2017 and December 31, 2016 , respectively, related to our technology upgrade project.

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As required under the accounting standard regarding accounting for income taxes, our deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) are recognized under the balance sheet method, which recognizes the future tax effect of temporary differences between the amounts recorded in our financial statements and the tax bases of these amounts. DTAs and DTLs are measured using the enacted tax rates expected to apply to taxable income in the periods in which the DTA or DTL is expected to be realized or settled. Our provision for income taxes for interim financial periods is based on an estimate of our annual effective tax rate for the full year. When estimating our full year 2017 and 2016 annual effective tax rates, we accounted for discrete items at the federal applicable tax rate, including: (i) the tax effects of gains and losses on our investments; (ii) excess tax benefits realized in 2017 from employee share-based payments; (iii) return-to-provision adjustments; (iv) prior year items relating to the accounting for uncertainty in income taxes; and (v) certain other adjustments. For federal income tax purposes, as of March 31, 2017 , we had approximately $561.0 million of NOL carryforwards and no foreign tax credit carryforward. To the extent not utilized, the NOL carryforwards will expire during tax years 2030 through 2032. Additionally, we had $8.4 million of alternative minimum tax credit carryforwards as of March 31, 2017 , which have no expiration date. We are required to establish a valuation allowance against our DTAs when it is more likely than not that all or some portion of our DTAs will not be realized. At each balance sheet date, we assess our need for a valuation allowance. Our assessment is based on all available evidence, both positive and negative. This requires management to exercise judgment and make assumptions regarding whether our DTAs will be realized in future periods. In making this assessment as of March 31, 2017 , we determined that certain of our non-insurance subsidiaries within Radian may continue to generate taxable losses on a separate company basis in the near term and may not be able to fully utilize certain of their state and local NOLs on their state and local tax returns. As of March 31, 2017 , our valuation allowance is $49.3 million with respect to the DTAs relating to these separate company NOLs and other state timing adjustments. We are contesting adjustments resulting from the examination by the IRS of our 2000 through 2007 consolidated federal income tax returns. The IRS opposes the recognition of certain tax losses and deductions that were generated through our investment in a portfolio of non-economic REMIC residual interests and has proposed denying the associated tax benefits of these items. We appealed these proposed adjustments to Appeals and made “qualified deposits” with the U.S. Treasury of $85 million in June 2008 relating to the 2000 through 2004 tax years and $4 million in May 2010 relating to the 2005 through 2007 tax years, in order to avoid the accrual of incremental above-market-rate interest with respect to the proposed adjustments. We attempted to reach a compromised settlement with Appeals, but in September 2014 we received Notices of Deficiency covering the 2000 through 2007 tax years that assert unpaid taxes and penalties of $157 million . The Deficiency Amount has not been reduced to reflect our NOL carryback ability. As of March 31, 2017 , there also would be interest of approximately $139 million related to these matters. Depending on the outcome, additional state income taxes, penalties and interest (estimated in the aggregate to be approximately $35 million as of March 31, 2017 ) also may become due when a final resolution is reached. The Notices of Deficiency also reflected additional amounts due of $105 million , which are primarily associated with the disallowance of the previously filed carryback of our 2008 NOL to the 2006 and 2007 tax years. We currently believe that the disallowance of our 2008 NOL carryback is a precautionary position by the IRS and that we will ultimately maintain the benefit of this NOL carryback claim. On December 3, 2014, we petitioned the U.S. Tax Court to litigate the Deficiency Amount. On September 1, 2015, we received a notice that the case had been scheduled for trial. However, the parties have jointly filed, and the U.S. Tax Court has approved, motions for continuance in this matter to postpone the trial date. Also, in February 2016, the U.S. Tax Court approved a joint motion to consolidate for trial, briefing and opinion our case with a similar case involving MGIC Investment Corporation. During 2016, we held several meetings with the IRS in an attempt to reach a compromised settlement on the issues presented in our dispute. In January 2017, the parties informed the U.S. Tax Court that they believe they have reached a basis for a compromised settlement on the primary issues present in the case. The resolution must be reported to the JCT for review and cannot be finalized until the IRS considers the views, if any, expressed by the JCT about the matter. If we are unable to complete a compromised settlement, then the ongoing litigation could take several years to resolve and may result in substantial legal expenses. We can provide no assurance regarding the outcome of any such litigation or whether a compromised settlement with the IRS will ultimately be reached. We currently believe that an adequate provision for income taxes has been made for the potential liabilities that may result from this matter. However, if the ultimate resolution of this matter produces a result that differs materially from our current expectations, there could be a material impact on our effective tax rate, results of operations and cash flows.

Note 10 - Losses and LAE

Note 10 - Losses and LAE	3 Months Ended
	Mar. 31, 2017
Insurance Loss Reserves [Abstract]
Losses and Loss Adjustment Expense	Losses and Loss Adjustment Expense All of the balance and activity of our consolidated reserve for losses and LAE relate to the Mortgage Insurance segment. The following table shows our reserve for losses and LAE by category at the end of each period indicated: (In thousands) March 31, December 31, Reserves for losses by category: Prime $ 362,804 $ 379,845 Alt-A 140,543 148,006 A minus and below 96,373 101,653 IBNR and other (1) 70,651 71,107 LAE 17,551 18,630 Reinsurance recoverable (2) 7,680 6,816 Total primary reserves 695,602 726,057 Pool 28,453 31,853 IBNR and other 603 673 LAE 822 932 Reinsurance recoverable (2) 28 35 Total pool reserves 29,906 33,493 Total First-lien reserves 725,508 759,550 Other (3) 661 719 Total reserve for losses $ 726,169 $ 760,269 ______________________ (1) Primarily related to expected payments under the Freddie Mac Agreement. (2) Represents ceded losses on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. (3) Does not include our Second-lien premium deficiency reserve that is included in other liabilities. The following table presents information relating to our reserve for losses, including our IBNR reserve and LAE but excluding our Second-lien premium deficiency reserve, for the periods indicated: Three Months Ended (In thousands) 2017 2016 Balance at beginning of period $ 760,269 $ 976,399 Less: Reinsurance recoverables (1) 6,851 8,286 Balance at beginning of period, net of reinsurance recoverables 753,418 968,113 Add: Losses and LAE incurred in respect of default notices reported and unreported in: Current year (2) 51,447 56,171 Prior years (4,316 ) (13,504 ) Total incurred 47,131 42,667 Deduct: Paid claims and LAE related to: Current year (2) 42 65 Prior years 82,046 127,606 Total paid 82,088 127,671 Balance at end of period, net of reinsurance recoverables 718,461 883,109 Add: Reinsurance recoverables (1) 7,708 8,239 Balance at end of period $ 726,169 $ 891,348 ______________________ (1) Related to ceded losses recoverable, if any, on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information. (2) Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default. Reserve Activity First Quarter 2017 Activity Our loss reserves at March 31, 2017 declined as compared to December 31, 2016 , primarily as a result of the amount of paid claims and Cures continuing to outpace losses incurred related to new default notices reported in the current year. Reserves established for new default notices were the primary driver of our total incurred loss for the three months ended March 31, 2017 , and they were primarily impacted by the number of new primary default notices received in the period and our related gross Default to Claim Rate assumption applied to those new defaults, which was 11.5% as of March 31, 2017 . The provision for losses during the first three months of 2017 was positively impacted by favorable reserve development on prior year defaults, which was primarily driven by a reduction during the period in certain Default to Claim Rate assumptions for these prior year defaults compared to those used at December 31, 2016 . The reductions in Default to Claim Rate assumptions primarily resulted from observed trends, including higher Cures than were previously estimated. The positive development in prior year defaults was partially offset by a decrease in estimated rates of future Loss Mitigation Activities compared to those used at December 31, 2016 . Total claims paid decreased for the three months ended March 31, 2017 , compared to the same period in 2016, consistent with the ongoing decline in the outstanding default inventory. First Quarter 2016 Activity Our loss reserves at March 31, 2016 declined as compared to December 31, 2015 , primarily as a result of the volume of paid claims and Cures continuing to outpace new default notices received. Reserves established for new default notices were the primary driver of our total incurred loss for the three months ended March 31, 2016 , and they were primarily impacted by the number of new primary default notices received in the quarter and our related gross Default to Claim Rate assumption applied to those new defaults, which was 12.5% . The impact to incurred losses from default notices reported in the first quarter of 2016 was positively impacted by favorable reserve development on prior year defaults, which was primarily driven by a reduction during the period in certain Default to Claim Rate assumptions for these prior year defaults. The positive development in prior year defaults was partially offset by an increase in estimated severity rates from those used at December 31, 2015 . Reserve Assumptions Default to Claim Rate Our aggregate weighted average Default to Claim Rate assumption for our primary loans (net of Claim Denials and Rescissions) used in estimating our primary reserve for losses was 45% ( 43% excluding pending claims) at March 31, 2017 , and 42% ( 40% excluding pending claims) at December 31, 2016 . This increase was primarily due to a decrease in the proportion of defaults that have missed three payments or less, which generally have a lower assumed net Default to Claim Rate. This shift in mix resulted from an elevated cure rate for that population during the three months ended March 31, 2017, primarily due to seasonality. During the three months ended March 31, 2017 , our gross Default to Claim Rate assumption for new primary defaults was modestly reduced from 12% as of December 31, 2016 , to 11.5% . As of March 31, 2017 , our gross Default to Claim Rates on our primary portfolio ranged from 11.5% for new defaults, up to 62% for defaults not in foreclosure stage, and 81% for Foreclosure Stage Defaults. Loss Mitigation Our estimate of expected Rescissions and Claim Denials (net of expected Reinstatements) embedded in our Default to Claim Rate is generally based on our recent experience. Consideration is also given for differences in characteristics between those previously rescinded policies and denied claims and the loans remaining in our defaulted inventory, as well as the estimated impact of the BofA Settlement Agreement, which is discussed below. Although our estimates of future Loss Mitigation Activities have been declining, they remain elevated compared to levels experienced before 2009. Since 2009, the elevated levels of our rate of Rescissions, Claim Denials and Claim Curtailments have significantly reduced our paid losses and have resulted in a reduction in our loss reserve. As our Legacy Portfolio has become a smaller percentage of our overall insured portfolio, we have experienced a reduced amount of Loss Mitigation Activity with respect to the claims we receive, and we expect this trend to continue. As a result, our future Loss Mitigation Activity is not expected to mitigate our paid losses to the same extent as in recent years. Our estimate of net future Loss Mitigation Activities reduced our loss reserve as of March 31, 2017 and December 31, 2016 by approximately $28 million and $39 million , respectively. The amount of estimated Loss Mitigation Activities incorporated into our reserve analysis at any point in time is affected by a number of factors, including our estimated rate of Rescissions, Claim Denials and Claim Curtailments on future claims, as well as the volume and attributes of our defaulted insured loans, our estimated Default to Claim Rate and our estimated Claim Severity, among other assumptions. Our assumptions also reflect the estimated future impact of the BofA Settlement Agreement, as discussed below. Our reported Rescission, Claim Denial and Claim Curtailment activity in any given period is subject to challenge by our lender and servicer customers. We expect that a portion of previous Rescissions will be reinstated and previous Claim Denials will be resubmitted with the required documentation and ultimately paid; therefore, we have incorporated this expectation into our IBNR reserve estimate. Our IBNR reserve estimate of $13.5 million and $14.3 million at March 31, 2017 and December 31, 2016 , respectively, includes reserves for this activity. We also accrue for the premiums that we expect to refund to our lender customers in connection with our estimated Rescissions. Agreements BofA Settlement Agreement On September 16, 2014, Radian Guaranty entered into the BofA Settlement Agreement in order to resolve various actual and potential claims or disputes related to the parties’ respective rights and duties as to mortgage insurance coverage on certain Subject Loans. Implementation of the BofA Settlement Agreement commenced on February 1, 2015 and was completed by December 31, 2015. Except for certain limited circumstances, Radian Guaranty agreed that with respect to Future Legacy Loans (as defined in and subject to the agreement), it will not assert any origination error or servicing defect as a basis for a decision not to pay a claim, nor will it effect a Claim Curtailment of such claims. See Note 11 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for additional information about the BofA Settlement Agreement. Freddie Mac Agreement At March 31, 2017 and December 31, 2016 , Radian Guaranty had $64.3 million and $63.9 million , respectively, in a collateral account pursuant to the Freddie Mac Agreement. This collateral account, which contains investments primarily invested in and classified as part of our trading securities, is pledged to cover Loss Mitigation Activity on the loans subject to the Freddie Mac Agreement. As of August 29, 2017, if, as we expect, the amount of additional Loss Mitigation Activity that has become final in accordance with the Freddie Mac Agreement is less than $62 million , then any shortfall will be paid to Freddie Mac from the funds remaining in the collateral account, subject to certain adjustments. As of March 31, 2017 , we have $57.7 million , recorded in reserve for losses, that we expect to be paid to Freddie Mac from the funds expected to be remaining in the collateral account as of the August 29, 2017 measurement date.

Note 11 - Long-Term Debt

Note 11 - Long-Term Debt	3 Months Ended
	Mar. 31, 2017
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-Term Debt The carrying value of our long-term debt at March 31, 2017 and December 31, 2016 was as follows: (In thousands) March 31, December 31, 5.500% Senior Notes due 2019 $ 297,206 $ 296,907 5.250% Senior Notes due 2020 345,618 345,308 7.000% Senior Notes due 2021 344,650 344,362 3.000% Convertible Senior Notes due 2017 21,303 20,947 2.250% Convertible Senior Notes due 2019 — 62,013 Total long-term debt $ 1,008,777 $ 1,069,537 Extinguishment of Debt Conversion of Convertible Senior Notes due 2019. In November 2016, we announced our intent to exercise our redemption option for the remaining Convertible Senior Notes due 2019. As a result of the average closing price of our common stock exceeding the conversion price of $10.60 prior to the redemption date, all of the holders of these notes elected to exercise their conversion rights. Radian elected to settle all of the notes surrendered for conversion with cash. We settled our obligations on January 27, 2017 with a cash payment of $110.1 million . At the time of settlement, this transaction resulted in a pretax charge of $4.5 million . Convertible Senior Notes due 2017 and 2019 Upon the original issuance of the Convertible Senior Notes due 2017 and 2019, in accordance with accounting standards related to convertible debt instruments that may be settled in cash upon conversion, the Company recorded a pretax equity component, net of the capped call transaction (with respect to the Convertible Senior Notes due 2017) and related issuance costs (with respect to the Convertible Senior Notes due 2017 and 2019). The pretax equity component is not subject to remeasurement, and therefore remains unchanged unless a reduction of outstanding principal occurs. As a result of settling our obligations on the remaining Convertible Senior Notes due 2019 during the first three months of 2017, the associated remaining pretax equity component of $13.1 million at December 31, 2016 was eliminated. The remaining pretax equity component related to the Convertible Senior Notes due 2017 was $5.0 million at March 31, 2017 , unchanged from December 31, 2016 . During the three-month period ended March 31, 2017 , Radian Group’s closing stock prices exceeded the thresholds required for the holders of our Convertible Senior Notes due 2017 to be able to exercise their conversion rights during the three-month period ending June 30, 2017 . In any period when holders of the Convertible Senior Notes due 2017 are eligible to exercise their conversion option, the equity component related to these instruments is classified as mezzanine (temporary) equity, because we are required to settle the aggregate principal amount of the notes in cash. This equity component is the difference between: (i) the amount of cash deliverable upon conversion (i.e., par value of debt) and (ii) the carrying value of the debt. If in any future period the conversion threshold requirements of our Convertible Senior Notes due 2017 are not met, then the equity component will be reclassified from mezzanine equity to permanent equity, and will continue to be reported as permanent equity for any period in which the debt is not currently convertible. Issuance and transaction costs incurred at the time of the original issuance of the convertible notes were allocated to the liability and equity components in proportion to the allocation of proceeds and are accounted for as debt issuance costs and equity issuance costs, respectively. The convertible notes are reflected on our condensed consolidated balance sheets as follows: Convertible Senior Notes due 2017 Convertible Senior Notes due 2019 (In thousands) March 31, December 31, March 31, December 31, Liability component: Principal $ 22,233 $ 22,233 $ — $ 68,024 Debt discount, net (1) (883 ) (1,221 ) — (5,461 ) Debt issuance costs (1) (47 ) (65 ) — (550 ) Net carrying amount $ 21,303 $ 20,947 $ — $ 62,013 Equity component of currently redeemable convertible senior notes $ 883 $ — $ — $ — ______________________ (1) Included within long-term debt and is being amortized over the life of the convertible notes. The following table sets forth total interest expense recognized related to the convertible notes for the periods indicated: Convertible Senior Notes due 2017 Convertible Senior Notes due 2019 Three Months Ended Three Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ 167 $ 372 $ (510 ) $ 2,013 Amortization of debt issuance costs 18 37 16 293 Amortization of debt discount 338 708 163 2,909 Total interest expense (benefit) (1) $ 523 $ 1,117 $ (331 ) $ 5,215 ______________________ (1) Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings See Note 13 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for information regarding our accounting policies for contingencies. We are routinely involved in a number of legal actions and proceedings, including litigation and other disputes arising in the ordinary course of our business. The legal and regulatory matters discussed below and in our 2016 Form 10-K could result in adverse judgments, settlements, fines, injunctions, restitutions or other relief that could require significant expenditures or have other effects on our business. Management believes, based on current knowledge and after consultation with counsel, that the outcome of such actions will not have a material adverse effect on our consolidated financial condition. However, the outcome of litigation and other legal and regulatory matters and proceedings is inherently uncertain, and it is possible that one or more of the matters currently pending or threatened could have an unanticipated adverse effect on our liquidity, financial condition or results of operations for any particular period. As described in Note 9 , on September 4, 2014, we received formal Notices of Deficiency from the IRS related to certain tax losses and deductions resulting from our investment in a portfolio of non-economic REMIC residual interests. We believe that an adequate provision for income taxes has been made for the potential liabilities that may result from this matter. However, if the ultimate resolution of this matter produces a result that differs materially from our current expectations, there could be a material impact on our effective tax rate, results of operations and cash flows. On December 22, 2016, Ocwen Loan Servicing, LLC and Homeward Residential, Inc. (collectively, “Ocwen”) filed a complaint against Radian Guaranty (the “Complaint”). Ocwen has also initiated legal proceedings against several other mortgage insurers. The action filed against Radian Guaranty, titled Ocwen, et al. v. Radian Guaranty , is pending in the U.S. District Court for the Eastern District of Pennsylvania (the “Court”). The Complaint alleges breach of contract and bad faith claims and seeks monetary damages and declaratory relief in regard to certain claims handling practices on future insurance claims. On December 17, 2016, Ocwen separately filed a parallel arbitration petition against Radian Guaranty (the “Petition”) before the American Arbitration Association that asserts substantially the same allegations as contained in the Complaint (the Complaint and the Petition are collectively referred to as the “Filings”). The Filings list 9,420 mortgage insurance certificates issued under multiple insurance policies, including Pool Insurance policies, as being the subject of these proceedings. Radian Guaranty believes that the claims in the Filings are without merit and plans to defend these claims vigorously. On March 3, 2017, Radian Guaranty filed with the Court: (i) a motion to dismiss Ocwen’s Complaint or, in the alternative, for a more definite statement and (ii) a motion to enjoin Ocwen’s parallel arbitration. On March 17, 2017, the Court held an initial pretrial conference and issued orders directing Ocwen to file an amended Complaint by June 5, 2017, in response to which Radian Guaranty may file renewed motions. We are not able to estimate a reasonably possible loss, if any, or range of loss in this matter because of the preliminary stage of the proceedings. We also are periodically subject to reviews and audits, as well as inquiries, information-gathering requests and investigations. In connection with these matters, from time to time we receive requests and subpoenas seeking information and documents related to aspects of our business. In March 2017, Green River Capital, a subsidiary of Clayton, received a letter from the staff of the SEC stating that it is conducting an investigation captioned, “In the Matter of Certain Single Family Rental Securitizations,” and that it is requesting information from market participants. The letter asks Green River Capital to provide information regarding broker price opinions (“BPOs”) that Green River Capital provided on properties included in single family rental securitization transactions. Green River Capital is cooperating with the SEC. Our Master Policies establish the timeline within which any suit or action arising from any right of an insured under the policy generally must be commenced. In general, any suit or action arising from any right of an insured under the policy must be commenced within two years after such right first arose for primary insurance and within three years for certain other policies, including certain Pool Insurance policies. Although we believe that our Loss Mitigation Activities are justified under our policies, from time to time we face challenges from certain lender and servicer customers regarding our Loss Mitigation Activities, which have resulted in some reversals of our decisions regarding Rescissions, Claim Denials or Claim Curtailments. We are currently in discussions with these customers regarding our Loss Mitigation Activities and claim payment practices, which if not resolved, could result in arbitration or judicial proceedings and we may need to reassume the risk on, and increase loss reserves for, the associated policies or pay additional claims. See Note 10 for additional information. Further, there are loans in our total defaulted portfolio (in particular, our older defaulted portfolio) for which actions or proceedings (such as foreclosure) may not have been commenced within the outermost deadline in our Prior Master Policy. We are evaluating these loans regarding this potential violation and our corresponding rights under the Prior Master Policy. While we can provide no assurance regarding the ultimate resolution of these issues, it is possible that arbitration or legal proceedings could result. Other Securities regulations became effective in 2005 that impose enhanced disclosure requirements on issuers of ABS (including mortgage-backed securities). To allow our customers to comply with these regulations at that time, we typically were required, depending on the amount of credit enhancement we were providing, to provide: (i) audited financial statements for the insurance subsidiary participating in the transaction or (ii) a full and unconditional holding company-level guarantee for our insurance subsidiaries’ obligations in such transactions. Radian Group has guaranteed two structured transactions for Radian Guaranty involving approximately $107.7 million of remaining credit exposure as of March 31, 2017 .

Note 13 - Capital Stock (Notes)

Note 13 - Capital Stock (Notes)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Capital Stock Share Repurchase Program On June 29, 2016, Radian Group’s board of directors authorized a share repurchase program to spend up to $125 million to repurchase Radian Group common stock. In order to implement the program, we adopted a trading plan under Rule 10b5-1 of the Exchange Act during the third quarter of 2016. As of March 31, 2017 , no shares had been purchased, and therefore, the full purchase authority of up to $125 million remained available under this program, which expires on June 30, 2017. Other Purchases We may purchase shares on the open market to settle stock options exercised by employees and to fund 401(k) matches and purchases under our Employee Stock Purchase Plan. In addition, upon the vesting of certain restricted stock awards under our equity compensation plans, we may withhold from such vested awards shares of our common stock to satisfy the tax liability of the award recipients.

Note 14 - Accumulated Other Com

Note 14 - Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income (Loss) The following table shows the rollforward of AOCI as of the periods indicated: Three Months Ended March 31, 2017 (In thousands) Before Tax Tax Effect Net of Tax Balance at beginning of period $ (19,063 ) $ (6,668 ) $ (12,395 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 11,334 3,967 7,367 Less: Reclassification adjustment for net gains (losses) included in net income (1) (2,509 ) (878 ) (1,631 ) Net unrealized gains (losses) on investments 13,843 4,845 8,998 Net foreign currency translation adjustments 52 18 34 OCI 13,895 4,863 9,032 Balance at end of period $ (5,168 ) $ (1,805 ) $ (3,363 ) Three Months Ended March 31, 2016 (In thousands) Before Tax Tax Effect Net of Tax Balance at beginning of period $ (28,425 ) $ (9,948 ) $ (18,477 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 60,575 21,201 39,374 Less: Reclassification adjustment for net gains (losses) included in net income (1) (3,318 ) (1,161 ) (2,157 ) Net unrealized gains (losses) on investments 63,893 22,362 41,531 Net foreign currency translation adjustments (130 ) (45 ) (85 ) Net actuarial loss (274 ) (96 ) (178 ) OCI 63,489 22,221 41,268 Balance at end of period $ 35,064 $ 12,273 $ 22,791 ______________________ (1) Included in net gains (losses) on investments and other financial instruments on our consolidated statements of operations.

Note 15 - Statutory Information

Note 15 - Statutory Information	3 Months Ended
	Mar. 31, 2017
Supplementary Insurance Information [Abstract]
Statutory Information	Statutory Information We prepare our statutory financial statements in accordance with the accounting practices required or permitted, if applicable, by the insurance departments of the respective states of domicile of our insurance subsidiaries. Required SAPP are established by a variety of publications of the NAIC as well as state laws, regulations and general administrative rules. In addition, insurance departments have the right to permit other specific practices that may deviate from prescribed practices. As of March 31, 2017 , we did not have any prescribed or permitted statutory accounting practices that resulted in reported statutory surplus or risk-based capital being different from what would have been reported if NAIC SAPP had been followed. The state insurance regulations include various capital requirements and dividend restrictions based on our insurance subsidiaries’ statutory financial position and results of operations, as described below. Failure to maintain adequate levels of capital could lead to intervention by the various insurance regulatory authorities, which could materially and adversely affect our business, business prospects and financial condition. As of March 31, 2017 , the amount of restricted net assets held by our consolidated insurance subsidiaries (which represents our equity investment in those insurance subsidiaries) totaled $3.1 billion of our consolidated net assets. Under state insurance regulations, Radian Guaranty is required to maintain minimum surplus levels and, in certain states, a minimum Risk-to-capital ratio. The 16 RBC States currently impose a Statutory RBC Requirement. The most common Statutory RBC Requirement is that a mortgage insurer’s Risk-to-capital may not exceed 25 to 1. In certain of the RBC States, a mortgage insurer must satisfy an MPP Requirement. The statutory capital requirements for the non-RBC States are de minimis (ranging from $1 million to $5 million ); however, the insurance laws of these states generally grant broad supervisory powers to state agencies or officials to enforce rules or exercise discretion affecting almost every significant aspect of the insurance business, including the power to revoke or restrict an insurance company’s ability to write new business. Unless an RBC State grants a waiver or other form of relief, if a mortgage insurer is not in compliance with the Statutory RBC Requirement of that state, the mortgage insurer may be prohibited from writing new mortgage insurance business in that state. Radian Guaranty’s domiciliary state, Pennsylvania, is not one of the RBC States. Radian Guaranty was in compliance with the Statutory RBC Requirements or MPP Requirements, as applicable, in each of the RBC States as of March 31, 2017 . The NAIC is in the process of developing a new Model Act for mortgage insurers, which is expected to include, among other items, new capital adequacy requirements for mortgage insurers. In May 2016, a working group of state regulators released an exposure draft of a risk-based capital framework to establish capital requirements for mortgage insurers. While the outcome and timing of this process are uncertain, the new Model Act, if and when finalized by the NAIC, has the potential to increase capital requirements in those states that adopt the Model Act. However, we continue to believe the changes to the Model Act will not result in financial requirements that require greater capital than the level currently required under the PMIERs financial requirements. See Note 1 of Notes to Consolidated Financial Statements in our 2016 Form 10-K for information regarding the PMIERs. On March 31, 2017, we reallocated $175 million of capital, in the form of cash and marketable securities, from Radian Guaranty to Radian Reinsurance. The reallocation was accomplished by way of an extraordinary dividend, approved by the Pennsylvania Department of Insurance, from Radian Guaranty to Radian Group, and a simultaneous capital contribution from Radian Group to Radian Reinsurance in the same amount. These transactions resulted in a $175 million decrease in Radian Guaranty’s statutory policyholders’ surplus (i.e., statutory capital and surplus) and a corresponding increase in Radian Reinsurance’s statutory policyholders’ surplus. At March 31, 2017 , the statutory policyholders’ surplus of Radian Reinsurance was $321.0 million , compared to $147.6 million at December 31, 2016 . The reallocation of capital had no impact on Radian Guaranty’s Available Assets under the PMIERs, because Radian Reinsurance is currently an exclusive affiliated reinsurer of Radian Guaranty and, as such, its assets are included in Radian Guaranty’s Available Assets under the PMIERs. Radian Guaranty’s Risk-to-capital calculation appears in the table below. For purposes of the Risk-to-capital calculation, as well as the Risk-to-capital requirements imposed by certain states, statutory capital is defined as the sum of statutory policyholders’ surplus plus statutory contingency reserves. March 31, December 31, ($ in millions) RIF, net (1) $ 36,014.5 $ 35,357.8 Common stock and paid-in capital $ 1,867.0 $ 2,041.0 Unassigned earnings (deficit) (699.3 ) (691.3 ) Statutory policyholders’ surplus 1,167.7 1,349.7 Contingency reserve 1,358.9 1,260.6 Statutory capital $ 2,526.6 $ 2,610.3 Risk-to-capital 14.3:1 13.5:1 ______________________ (1) Excludes risk ceded through reinsurance contracts (to third parties and affiliates) and RIF on defaulted loans. The net increase in Radian Guaranty’s Risk-to-capital in the first three months of 2017 was primarily due to the reallocation of $175 million of capital from Radian Guaranty to Radian Reinsurance, as described above, partially offset by Radian Guaranty’s statutory net income of $94.2 million , which had the effect of decreasing statutory policyholders’ surplus. The Risk-to-capital ratio for our combined mortgage insurance operations was 13.4 to 1 as of March 31, 2017 , compared to 13.6 to 1 as of December 31, 2016 .

Note 1 - Condensed Consolidat23

Note 1 - Condensed Consolidated Financial Statements - Business Overview and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Our condensed consolidated financial statements are prepared in accordance with GAAP and include the accounts of all wholly-owned subsidiaries. All intercompany accounts and transactions, and intercompany profits and losses, have been eliminated. We have condensed or omitted certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP pursuant to the instructions set forth in Article 10 of Regulation S-X of the SEC.
Use of Estimates, Policy [Policy Text Block]	The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of our contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. While the amounts included in our condensed consolidated financial statements include our best estimates and assumptions, actual results may vary materially.
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Accounting Standards Adopted During 2017. In March 2016, the FASB issued an update to the accounting standards for share-based payment transactions, including: (i) accounting for income taxes; (ii) classification of excess tax benefits on the statement of cash flows; (iii) forfeitures; (iv) minimum statutory tax withholding requirements; (v) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes; (vi) the practical expedient for estimating the expected term; and (vii) intrinsic value. Among other things, the update requires: (i) all excess tax benefits and tax deficiencies to be recognized as income tax expense or benefit in the income statement as they occur; (ii) recognition of excess tax benefits, regardless of whether the benefits reduce taxes payable in the current period; and (iii) excess tax benefits to be classified along with other cash flows as an operating activity, rather than separated from other income tax cash flows as a financing activity. This update is effective for public companies for fiscal years beginning after December 15, 2016. Our adoption of this update, effective January 1, 2017, had an immaterial impact on our financial statements at implementation. As a result of implementing this new standard, however, we expect the potential for limited increased volatility in our effective tax rate and net earnings, and possible additional dilution in earnings per share calculations.
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Standards Not Yet Adopted. In May 2014, the FASB issued an update to the accounting standard regarding revenue recognition. In accordance with the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This update is not expected to change revenue recognition principles related to our investments and insurance products, which combined represent a significant portion of our total revenues. This update is primarily applicable to revenues from our Services segment. In July 2015, the FASB delayed the effective date for this updated standard for public companies to interim and annual periods beginning after December 15, 2017, and subsequently issued various clarifying updates. Early adoption is permitted. This standard permits the use of the retrospective or cumulative effective transition method. We are currently in the process of categorizing the Services revenues to evaluate the impact to our financial statements and future disclosures as a result of the updates. In January 2016, the FASB issued an update that makes certain changes to the standard for the accounting of financial instruments. Among other things, the update requires: (i) equity investments to be measured at fair value with changes in fair value recognized in net income; (ii) the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (iii) separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (iv) separate presentation in other comprehensive income of the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The update also eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. This update is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted, with the exception of the “own credit” provision. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update, but we do not expect the impact to be material due to our currently insignificant investments in equity securities and our investment strategy. In February 2016, the FASB issued an update that replaces the existing accounting and disclosure requirements for leases of property, plant and equipment. The update requires lessees to recognize, as of the lease commencement date, assets and liabilities for all leases with lease terms of more than 12 months, which is a change from the current GAAP requirement to recognize only capital leases on the balance sheet. Pursuant to the new standard, the liability initially recognized for the lease obligation is equal to the present value of the lease payments not yet made, discounted over the lease term at the implicit interest rate of the lease, if available, or otherwise at the lessee’s incremental borrowing rate. The lessee is also required to recognize an asset for its right to use the underlying asset for the lease term, based on the liability subject to certain adjustments, such as for initial direct costs. Leases are required to be classified as either operating or finance, with expense on operating leases recorded as a single lease cost on a straight-line basis. For finance leases, interest expense on the lease liability is required to be recognized separately from the straight-line amortization of the right-of-use asset. Quantitative disclosures are required for certain items, including the cost of leases, the weighted-average remaining lease term, the weighted-average discount rate and a maturity analysis of lease liabilities. Additional qualitative disclosures are also required regarding the nature of the leases, such as basis, terms and conditions of: (i) variable interest payments; (ii) extension and termination options; and (iii) residual value guarantees. This update is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted by applying the new guidance as of the beginning of the earliest comparative period presented, using a modified retrospective transition approach with certain optional practical expedients. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In June 2016, the FASB issued an update to the accounting standard regarding the measurement of credit losses on financial instruments. This update requires that financial assets measured at their amortized cost basis be presented at the net (of allowance for credit losses) amount expected to be collected. Credit losses relating to available-for-sale debt securities are to be recorded through an allowance for credit losses, rather than a write-down of the asset, with the amount of the allowance limited to the amount by which fair value is less than amortized cost. This update is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In October 2016, the FASB issued an update to the accounting standard regarding the accounting for income taxes. This update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update will be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. This update is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in the first interim period of the adoption year. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update. In January 2017, the FASB issued an update to the accounting standard regarding goodwill and other intangibles. This update simplifies the subsequent measurement of goodwill by eliminating step two of the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for any excess of the reporting unit’s carrying amount over the reporting unit’s estimated fair value. The provisions of this update are effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We intend to early adopt this update, effective as of our next quantitative goodwill impairment test. In March 2017, the FASB issued an update to the accounting standard regarding receivables. The new standard requires certain premiums on purchased callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted. The provisions of this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact to our financial statements and future disclosures as a result of this update.
Segment Reporting, Policy [Policy Text Block]	We have two strategic business units that we manage separately—Mortgage Insurance and Services. Adjusted pretax operating income (loss) for each segment represents segment results on a standalone basis; therefore, inter-segment eliminations and reclassifications required for consolidated GAAP presentation have not been reflected. In the fourth quarter of 2016, we completed an organizational change that resulted in a change to our segment financial reporting structure. Previously, contract underwriting activities on behalf of third parties were reported in either the Mortgage Insurance segment or the Services segment, based on the customer relationship. Management responsibility for this contract underwriting business was moved entirely to the Services segment. This organizational change resulted in the transfer to the Services segment of revenue and expenses for all contract underwriting performed on behalf of third parties. This change aligns with recent changes in personnel reporting lines and management oversight, and is consistent with the way the chief operating decision maker began assessing the performance of the reportable segments in the fourth quarter of 2016. As a result, on a segment basis, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. This change has been reflected in our segment operating results. Mortgage Insurance underwriting continues to be reported as an expense in the Mortgage Insurance segment. We include underwriting-related expenses for mortgage insurance, based on a pro-rata volume of mortgage applications excluding third-party contract underwriting services, in our Mortgage Insurance segment’s other operating expenses before corporate allocations. We include underwriting-related expenses for third-party contract underwriting services, based on a pro-rata volume of mortgage applications, in our Services segment’s cost of services and other operating expenses before corporate allocations, as applicable. We allocate to our Mortgage Insurance segment: (i) corporate expenses based on an allocated percentage of time spent on the Mortgage Insurance segment; (ii) all interest expense except for interest expense related to the Senior Notes due 2019 that were issued to fund our purchase of Clayton; and (iii) all corporate cash and investments. We allocate to our Services segment: (i) corporate expenses based on an allocated percentage of time spent on the Services segment and (ii) as noted above, all interest expense related to the Senior Notes due 2019. No material corporate cash or investments are allocated to the Services segment. Inter-segment activities are recorded at market rates for segment reporting and eliminated in consolidation.
Fair Value of Financial Instruments, Policy [Policy Text Block]	In accordance with GAAP, we established a three-level valuation hierarchy for disclosure of fair value measurements based on the transparency of inputs to the valuation of an asset or liability as of the measurement date. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the measurement in its entirety. The three levels of the fair value hierarchy are defined below: Level I — Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level II — Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities; and Level III — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. Level III inputs are used to measure fair value only to the extent that observable inputs are not available. The level of market activity used to determine the fair value hierarchy is based on the availability of observable inputs market participants would use to price an asset or a liability, including market value price observations.
Income Tax, Policy [Policy Text Block]	We are required to establish a valuation allowance against our DTAs when it is more likely than not that all or some portion of our DTAs will not be realized. At each balance sheet date, we assess our need for a valuation allowance. Our assessment is based on all available evidence, both positive and negative. This requires management to exercise judgment and make assumptions regarding whether our DTAs will be realized in future periods. As required under the accounting standard regarding accounting for income taxes, our deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) are recognized under the balance sheet method, which recognizes the future tax effect of temporary differences between the amounts recorded in our financial statements and the tax bases of these amounts. DTAs and DTLs are measured using the enacted tax rates expected to apply to taxable income in the periods in which the DTA or DTL is expected to be realized or settled. Our provision for income taxes for interim financial periods is based on an estimate of our annual effective tax rate for the full year. When estimating our full year 2017 and 2016 annual effective tax rates, we accounted for discrete items at the federal applicable tax rate, including: (i) the tax effects of gains and losses on our investments; (ii) excess tax benefits realized in 2017 from employee share-based payments; (iii) return-to-provision adjustments; (iv) prior year items relating to the accounting for uncertainty in income taxes; and (v) certain other adjustments.

Note 2 - Net Income Per Share (

Note 2 - Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The calculation of basic and diluted net income per share was as follows: Three Months Ended (In thousands, except per-share amounts) 2017 2016 Net income—basic $ 76,472 $ 66,249 Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1) (215 ) 3,390 Net income—diluted $ 76,257 $ 69,639 Average common shares outstanding—basic 214,925 203,706 Dilutive effect of Convertible Senior Notes due 2017 (2) 701 — Dilutive effect of Convertible Senior Notes due 2019 1,854 33,583 Dilutive effect of share-based compensation arrangements (2) 4,017 2,418 Adjusted average common shares outstanding—diluted 221,497 239,707 Net income per share: Basic $ 0.36 $ 0.33 Diluted $ 0.34 $ 0.29 ______________________ (1) As applicable, includes coupon interest, amortization of discount and fees, and other changes in income or loss that would result from the assumed conversion. Due to the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019, a benefit was recorded to adjust estimated accrued expense to actual amounts. (2) The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and convertible debt were not included in the calculation of diluted net income per share because they were anti-dilutive: Three Months Ended (In thousands) 2017 2016 Shares of common stock equivalents 445 709 Shares of Convertible Senior Notes due 2017 — 1,902

Note 3 - Segment Reporting (Tab

Note 3 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Summarized operating results for our segments as of and for the periods indicated, are as follows: Three Months Ended (In thousands) 2017 2016 (1) Mortgage Insurance Net premiums written—insurance (2) $ 224,665 $ 26,310 (Increase) decrease in unearned premiums (2,865 ) 194,640 Net premiums earned—insurance 221,800 220,950 Net investment income 31,032 27,201 Other income 746 666 Total (3) 253,578 248,817 Provision for losses 47,232 43,275 Policy acquisition costs 6,729 6,389 Other operating expenses before corporate allocations 39,289 32,546 Total (4) 93,250 82,210 Adjusted pretax operating income before corporate allocations 160,328 166,607 Allocation of corporate operating expenses 14,186 9,329 Allocation of interest expense 11,509 17,112 Adjusted pretax operating income $ 134,633 $ 140,166 ______________________ (1) Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. (2) Net of ceded premiums written under the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information. (3) Excludes net losses on investments and other financial instruments of $2.9 million for the three months ended March 31, 2017 , and net gains on investments and other financial instruments of $31.3 million for the three months ended March 31, 2016 , not included in adjusted pretax operating income. (4) Includes inter-segment expenses as follows: Three Months Ended (In thousands) 2017 2016 Inter-segment expenses $ 2,062 $ 1,599 Three Months Ended (In thousands) 2017 2016 (1) Services Services revenue (2) $ 40,089 $ 34,448 Cost of services 28,690 23,854 Other operating expenses before corporate allocations 12,604 14,368 Total 41,294 38,222 Adjusted pretax operating income (loss) before corporate allocations (1,205 ) (3,774 ) Allocation of corporate operating expenses 3,718 1,751 Allocation of interest expense 4,429 4,422 Adjusted pretax operating income (loss) $ (9,352 ) $ (9,947 ) ______________________ (1) Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses. (2) Includes inter-segment revenues as follows: Three Months Ended (In thousands) 2017 2016 Inter-segment revenues $ 2,062 $ 1,599 Selected balance sheet information for our segments, as of the periods indicated, is as follows: At March 31, 2017 (In thousands) Mortgage Insurance Services Total Total assets $ 5,475,502 $ 352,258 $ 5,827,760 At December 31, 2016 (In thousands) Mortgage Insurance Services Total Total assets $ 5,506,338 $ 356,836 $ 5,863,174
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	The reconciliation of adjusted pretax operating income to consolidated pretax income is as follows: Three Months Ended (In thousands) 2017 2016 Adjusted pretax operating income (loss): Mortgage Insurance (1) $ 134,633 $ 140,166 Services (1) (9,352 ) (9,947 ) Total adjusted pretax operating income 125,281 130,219 Net gains (losses) on investments and other financial instruments (2,851 ) 31,286 Loss on induced conversion and debt extinguishment (4,456 ) (55,570 ) Acquisition-related expenses (2) (8 ) (205 ) Amortization and impairment of intangible assets (3,296 ) (3,328 ) Consolidated pretax income $ 114,670 $ 102,402 ______________________ (1) Includes inter-segment expenses and revenues as listed in the notes to the preceding tables. (2) Acquisition-related expenses represent expenses incurred to effect the acquisition of a business, net of adjustments to accruals previously recorded for acquisition expenses.

Note 4 - Fair Value of Financ26

Note 4 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following is a list of assets that are measured at fair value by hierarchy level as of March 31, 2017 : (In thousands) Level I Level II Level III Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 267,524 $ 4,906 $ — $ 272,430 State and municipal obligations — 341,197 — 341,197 Money market instruments 384,225 — — 384,225 Corporate bonds and notes — 2,115,001 — 2,115,001 RMBS — 309,460 — 309,460 CMBS — 473,505 — 473,505 Other ABS — 488,340 — 488,340 Foreign government and agency securities — 38,035 — 38,035 Equity securities — 830 500 1,330 Other investments (1) — 12,720 500 13,220 Total Investments at Fair Value (2) 651,749 3,783,994 1,000 4,436,743 Total Assets at Fair Value $ 651,749 $ 3,783,994 $ 1,000 $ 4,436,743 ______________________ (1) Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III. (2) Does not include certain other invested assets ( $1.0 million ), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value. The following is a list of assets that are measured at fair value by hierarchy level as of December 31, 2016 : (In thousands) Level I Level II Level III Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 237,479 $ — $ — $ 237,479 State and municipal obligations — 358,536 — 358,536 Money market instruments 431,472 — — 431,472 Corporate bonds and notes — 2,024,205 — 2,024,205 RMBS — 388,842 — 388,842 CMBS — 507,273 — 507,273 Other ABS — 450,128 — 450,128 Foreign government and agency securities — 32,807 — 32,807 Equity securities — 830 500 1,330 Other investments (1) — 28,663 500 29,163 Total Investments at Fair Value (2) 668,951 3,791,284 1,000 4,461,235 Total Assets at Fair Value $ 668,951 $ 3,791,284 $ 1,000 $ 4,461,235 ______________________ (1) Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III. (2) Does not include certain other invested assets ( $1.2 million ), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value.
Fair Value, by Balance Sheet Grouping [Table Text Block]	The carrying value and estimated fair value of other selected assets and liabilities not carried at fair value on our condensed consolidated balance sheets were as follows as of the dates indicated: March 31, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Other invested assets $ 973 $ 3,751 $ 1,195 $ 3,789 Liabilities: Long-term debt 1,008,777 1,104,711 1,069,537 1,214,471

Note 5 - Investments (Tables)

Note 5 - Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Unrealized Gain (Loss) on Investments [Table Text Block]	Our available for sale securities within our investment portfolio consisted of the following as of the dates indicated: March 31, 2017 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 128,347 $ 125,466 $ 279 $ 3,160 State and municipal obligations 67,600 69,284 2,316 632 Corporate bonds and notes 1,555,516 1,556,643 17,823 16,696 RMBS 278,710 273,549 445 5,606 CMBS 402,847 402,525 2,248 2,570 Other ABS 477,251 478,099 1,945 1,097 Foreign government and agency securities 29,257 29,849 645 53 Other investments 2,000 2,000 — — Total fixed-maturities available for sale 2,941,528 2,937,415 25,701 29,814 Equity securities available for sale (1) 1,330 1,330 — — Total debt and equity securities $ 2,942,858 $ 2,938,745 $ 25,701 $ 29,814 ______________________ (1) Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh. December 31, 2016 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 78,931 $ 75,474 $ 2 $ 3,459 State and municipal obligations 66,124 67,171 1,868 821 Corporate bonds and notes 1,463,720 1,455,628 14,320 22,412 RMBS 358,262 350,628 197 7,831 CMBS 429,057 428,289 2,255 3,023 Other ABS 433,603 434,728 2,037 912 Foreign government and agency securities 24,771 24,594 148 325 Other investments 2,000 2,000 — — Total fixed-maturities available for sale 2,856,468 2,838,512 20,827 38,783 Equity securities available for sale (1) 1,330 1,330 — — Total debt and equity securities $ 2,857,798 $ 2,839,842 $ 20,827 $ 38,783 ______________________ (1) Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh.
Schedule Of Unrealized Losses [Table Text Block]	The following tables show the gross unrealized losses and fair value of our securities deemed “available for sale” aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated: March 31, 2017 ( $ in thousands ) Description of Securities Less Than 12 Months 12 Months or Greater Total # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses U.S. government and agency securities 9 $ 74,457 $ 3,160 — $ — $ — 9 $ 74,457 $ 3,160 State and municipal obligations 5 19,981 632 — — — 5 19,981 632 Corporate bonds and notes 150 620,609 16,360 2 4,471 336 152 625,080 16,696 RMBS 54 217,577 5,541 3 7,308 65 57 224,885 5,606 CMBS 38 186,354 2,519 3 9,924 51 41 196,278 2,570 Other ABS 75 186,578 949 5 21,978 148 80 208,556 1,097 Foreign government and agency securities 4 4,321 53 — — — 4 4,321 53 Total 335 $ 1,309,877 $ 29,214 13 $ 43,681 $ 600 348 $ 1,353,558 $ 29,814 December 31, 2016 ( $ in thousands ) Description of Securities Less Than 12 Months 12 Months or Greater Total # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses # of securities Fair Value Unrealized Losses U.S. government and agency securities 7 $ 73,160 $ 3,459 — $ — $ — 7 $ 73,160 $ 3,459 State and municipal obligations 7 30,901 821 — — — 7 30,901 821 Corporate bonds and notes 185 788,876 22,135 2 4,582 277 187 793,458 22,412 RMBS 56 311,031 7,822 1 1,398 9 57 312,429 7,831 CMBS 37 218,170 2,909 2 6,585 114 39 224,755 3,023 Other ABS 58 131,268 470 16 45,886 442 74 177,154 912 Foreign government and agency securities 12 13,034 325 — — — 12 13,034 325 Total 362 $ 1,566,440 $ 37,941 21 $ 58,451 $ 842 383 $ 1,624,891 $ 38,783
Trading Securities (and Certain Trading Assets) [Table Text Block]	The trading securities within our investment portfolio, which are recorded at fair value, consisted of the following as of the dates indicated: (In thousands) March 31, December 31, Trading securities: U.S. government and agency securities $ 33,006 $ 33,042 State and municipal obligations 235,864 259,573 Corporate bonds and notes 420,633 453,617 RMBS 35,911 38,214 CMBS 70,980 78,984 Other ABS 6,733 8,219 Foreign government and agency securities 8,186 8,213 Total $ 811,313 $ 879,862
Gain (Loss) on Investments [Table Text Block]	Net realized and unrealized gains (losses) on investments and other financial instruments consisted of: Three Months Ended March 31, (In thousands) 2017 2016 Net realized gains (losses): Fixed-maturities available for sale $ (2,509 ) $ (3,148 ) Equity securities available for sale — (170 ) Trading securities (5,694 ) (2,240 ) Short-term investments 6 (39 ) Other gains (losses) 18 18 Net realized gains (losses) on investments (8,179 ) (5,579 ) Unrealized gains (losses) on trading securities 5,226 35,231 Total net gains (losses) on investments (2,953 ) 29,652 Net gains (losses) on other financial instruments 102 1,634 Net gains (losses) on investments and other financial instruments $ (2,851 ) $ 31,286
Investments Classified by Contractual Maturity Date [Table Text Block]	The contractual maturities of fixed-maturity investments were as follows: March 31, 2017 Available for Sale (In thousands) Amortized Cost Fair Value Due in one year or less (1) $ 65,472 $ 65,502 Due after one year through five years (1) 411,562 414,006 Due after five years through 10 years (1) 905,821 901,736 Due after 10 years (1) 399,864 401,998 RMBS (2) 278,710 273,549 CMBS (2) 402,848 402,525 Other ABS (2) 477,251 478,099 Total $ 2,941,528 $ 2,937,415 ______________________ (1) Actual maturities may differ as a result of calls before scheduled maturity. (2) RMBS, CMBS and Other ABS are shown separately, as they are not due at a single maturity date.

Note 6 - Goodwill and Other I28

Note 6 - Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	All of our goodwill and other intangible assets relate to our Services segment. The following table shows the changes in the carrying amount of goodwill for the year-to-date periods ended March 31, 2017 and December 31, 2016 : (In thousands) Goodwill Accumulated Impairment Losses Net Balance at December 31, 2015 $ 197,265 $ (2,095 ) $ 195,170 Goodwill acquired — — — Impairment losses — — — Balance at December 31, 2016 197,265 (2,095 ) 195,170 Goodwill acquired 126 — 126 Impairment losses — — — Balance at March 31, 2017 $ 197,391 $ (2,095 ) $ 195,296
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The following is a summary of the gross and net carrying amounts and accumulated amortization of our other intangible assets as of the periods indicated: March 31, 2017 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships $ 83,329 $ (21,952 ) $ 61,377 Technology 15,250 (6,125 ) 9,125 Trade name and trademarks 8,340 (2,346 ) 5,994 Client backlog 6,680 (5,427 ) 1,253 Non-competition agreements 185 (162 ) 23 Total $ 113,784 $ (36,012 ) $ 77,772 December 31, 2016 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships $ 83,316 $ (19,696 ) $ 63,620 Technology 15,250 (5,497 ) 9,753 Trade name and trademarks 8,340 (2,125 ) 6,215 Client backlog 6,680 (5,235 ) 1,445 Non-competition agreements 185 (160 ) 25 Total $ 113,771 $ (32,713 ) $ 81,058
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The estimated aggregate amortization expense for the remainder of 2017 and thereafter is as follows (in thousands): 2017 $ 9,351 2018 12,054 2019 10,795 2020 9,186 2021 7,376 2022 6,533 Thereafter 22,477 Total $ 77,772

Note 7 - Reinsurance (Tables)

Note 7 - Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance, Premiums Written And Earned [Table Text Block]	The effect of reinsurance on net premiums written and earned is as follows: Three Months Ended (In thousands) 2017 2016 Net premiums written—insurance: Direct $ 239,645 $ 233,926 Ceded (1) (14,980 ) (207,616 ) Net premiums written—insurance $ 224,665 $ 26,310 Net premiums earned—insurance: Direct $ 236,062 $ 240,330 Assumed 7 9 Ceded (1) (14,269 ) (19,389 ) Net premiums earned—insurance $ 221,800 $ 220,950 ______________________ (1) Net of profit commission.
Reinsurance Transaction Details [Table Text Block]	The following tables show the amounts related to the QSR Transactions and the Single Premium QSR Transaction for the periods indicated: QSR Transactions Three Months Ended (In thousands) 2017 2016 Ceded premiums written (1) $ 5,457 $ 7,962 Ceded premiums earned (1) 7,834 11,325 Ceding commissions written 1,559 2,270 Ceding commissions earned (3) 3,894 4,446 Ceded losses 570 541 Single Premium QSR Transaction Three Months Ended 2017 2016 $ 8,960 $ 197,593 (2) 5,859 5,994 3,712 50,932 2,937 3,032 573 536 ______________________ (1) Net of profit commission. (2) Includes ceded premiums for policies written in prior periods. See Note 8 of Notes to Consolidated Financial Statements in our 2016 Form 10-K. (3) Includes amounts reported in policy acquisition costs and other operating expenses.

Note 8 - Other Assets (Tables)

Note 8 - Other Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Other Assets [Abstract]
Schedule of Other Assets [Table Text Block]	The following table shows the components of other assets as of the dates indicated: (In thousands) March 31, December 31, Deposit with the IRS (Note 9) $ 88,557 $ 88,557 Corporate-owned life insurance 83,865 83,248 Property and equipment (1) (2) 74,241 70,665 Accrued investment income 30,381 29,255 Deferred policy acquisition costs 13,724 14,127 Reinsurance recoverables 7,849 7,368 Other 58,818 50,615 Total other assets $ 357,435 $ 343,835 ______________________ (1) Property and equipment at cost, less accumulated depreciation of $122.6 million and $118.5 million at March 31, 2017 and December 31, 2016 , respectively. Depreciation expense was $4.1 million and $2.3 million for the three-month periods ended March 31, 2017 and 2016 , respectively. (2) Includes $48.4 million and $49.7 million at March 31, 2017 and December 31, 2016 , respectively, related to our technology upgrade project.

Note 10 - Losses and LAE (Table

Note 10 - Losses and LAE (Tables)	3 Months Ended
	Mar. 31, 2017
Insurance Loss Reserves [Abstract]
Schedule of Liability for Future Policy Benefits, by Product Segment [Table Text Block]	The following table shows our reserve for losses and LAE by category at the end of each period indicated: (In thousands) March 31, December 31, Reserves for losses by category: Prime $ 362,804 $ 379,845 Alt-A 140,543 148,006 A minus and below 96,373 101,653 IBNR and other (1) 70,651 71,107 LAE 17,551 18,630 Reinsurance recoverable (2) 7,680 6,816 Total primary reserves 695,602 726,057 Pool 28,453 31,853 IBNR and other 603 673 LAE 822 932 Reinsurance recoverable (2) 28 35 Total pool reserves 29,906 33,493 Total First-lien reserves 725,508 759,550 Other (3) 661 719 Total reserve for losses $ 726,169 $ 760,269 ______________________ (1) Primarily related to expected payments under the Freddie Mac Agreement. (2) Represents ceded losses on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. (3) Does not include our Second-lien premium deficiency reserve that is included in other liabilities.
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	The following table presents information relating to our reserve for losses, including our IBNR reserve and LAE but excluding our Second-lien premium deficiency reserve, for the periods indicated: Three Months Ended (In thousands) 2017 2016 Balance at beginning of period $ 760,269 $ 976,399 Less: Reinsurance recoverables (1) 6,851 8,286 Balance at beginning of period, net of reinsurance recoverables 753,418 968,113 Add: Losses and LAE incurred in respect of default notices reported and unreported in: Current year (2) 51,447 56,171 Prior years (4,316 ) (13,504 ) Total incurred 47,131 42,667 Deduct: Paid claims and LAE related to: Current year (2) 42 65 Prior years 82,046 127,606 Total paid 82,088 127,671 Balance at end of period, net of reinsurance recoverables 718,461 883,109 Add: Reinsurance recoverables (1) 7,708 8,239 Balance at end of period $ 726,169 $ 891,348 ______________________ (1) Related to ceded losses recoverable, if any, on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information. (2) Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.

Note 11 - Long-Term Debt (Table

Note 11 - Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Long-term Debt, Unclassified [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The carrying value of our long-term debt at March 31, 2017 and December 31, 2016 was as follows: (In thousands) March 31, December 31, 5.500% Senior Notes due 2019 $ 297,206 $ 296,907 5.250% Senior Notes due 2020 345,618 345,308 7.000% Senior Notes due 2021 344,650 344,362 3.000% Convertible Senior Notes due 2017 21,303 20,947 2.250% Convertible Senior Notes due 2019 — 62,013 Total long-term debt $ 1,008,777 $ 1,069,537
Convertible Debt	The convertible notes are reflected on our condensed consolidated balance sheets as follows: Convertible Senior Notes due 2017 Convertible Senior Notes due 2019 (In thousands) March 31, December 31, March 31, December 31, Liability component: Principal $ 22,233 $ 22,233 $ — $ 68,024 Debt discount, net (1) (883 ) (1,221 ) — (5,461 ) Debt issuance costs (1) (47 ) (65 ) — (550 ) Net carrying amount $ 21,303 $ 20,947 $ — $ 62,013 Equity component of currently redeemable convertible senior notes $ 883 $ — $ — $ — ______________________ (1) Included within long-term debt and is being amortized over the life of the convertible notes. The following table sets forth total interest expense recognized related to the convertible notes for the periods indicated: Convertible Senior Notes due 2017 Convertible Senior Notes due 2019 Three Months Ended Three Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ 167 $ 372 $ (510 ) $ 2,013 Amortization of debt issuance costs 18 37 16 293 Amortization of debt discount 338 708 163 2,909 Total interest expense (benefit) (1) $ 523 $ 1,117 $ (331 ) $ 5,215 ______________________ (1) Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded.

Note 14 - Accumulated Other C33

Note 14 - Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table shows the rollforward of AOCI as of the periods indicated: Three Months Ended March 31, 2017 (In thousands) Before Tax Tax Effect Net of Tax Balance at beginning of period $ (19,063 ) $ (6,668 ) $ (12,395 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 11,334 3,967 7,367 Less: Reclassification adjustment for net gains (losses) included in net income (1) (2,509 ) (878 ) (1,631 ) Net unrealized gains (losses) on investments 13,843 4,845 8,998 Net foreign currency translation adjustments 52 18 34 OCI 13,895 4,863 9,032 Balance at end of period $ (5,168 ) $ (1,805 ) $ (3,363 ) Three Months Ended March 31, 2016 (In thousands) Before Tax Tax Effect Net of Tax Balance at beginning of period $ (28,425 ) $ (9,948 ) $ (18,477 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 60,575 21,201 39,374 Less: Reclassification adjustment for net gains (losses) included in net income (1) (3,318 ) (1,161 ) (2,157 ) Net unrealized gains (losses) on investments 63,893 22,362 41,531 Net foreign currency translation adjustments (130 ) (45 ) (85 ) Net actuarial loss (274 ) (96 ) (178 ) OCI 63,489 22,221 41,268 Balance at end of period $ 35,064 $ 12,273 $ 22,791 ______________________ (1) Included in net gains (losses) on investments and other financial instruments on our consolidated statements of operations.

Note 15 - Statutory Informati34

Note 15 - Statutory Information (Tables)	3 Months Ended
	Mar. 31, 2017
Supplementary Insurance Information [Abstract]
Risk To Capital Calculation [Table Text Block]	Radian Guaranty’s Risk-to-capital calculation appears in the table below. For purposes of the Risk-to-capital calculation, as well as the Risk-to-capital requirements imposed by certain states, statutory capital is defined as the sum of statutory policyholders’ surplus plus statutory contingency reserves. March 31, December 31, ($ in millions) RIF, net (1) $ 36,014.5 $ 35,357.8 Common stock and paid-in capital $ 1,867.0 $ 2,041.0 Unassigned earnings (deficit) (699.3 ) (691.3 ) Statutory policyholders’ surplus 1,167.7 1,349.7 Contingency reserve 1,358.9 1,260.6 Statutory capital $ 2,526.6 $ 2,610.3 Risk-to-capital 14.3:1 13.5:1 ______________________ (1) Excludes risk ceded through reinsurance contracts (to third parties and affiliates) and RIF on defaulted loans.

Note 1 - Condensed Consolidat35

Note 1 - Condensed Consolidated Financial Statements - Business Overview and Significant Accounting Policies Business Overview and Significant Accounting Policies(Details) $ in Thousands, shares in Millions	Jan. 27, 2017USD ($)shares	Mar. 31, 2017USD ($)segment	Mar. 31, 2016USD ($)
Business Overview [Abstract]
Number of Operating Segments | segment		2
Mortgage Insurance [Abstract]
Loss on induced conversion and debt extinguishment		$ 4,456	$ 55,570
Mortgage Insurance Segment
Mortgage Insurance [Abstract]
Private Mortgage Insurance Protects Lenders For Loans Made With Less Than This Maximum Down Payment Percentage		20.00%
Risk In Force		$ 48,400,000
Convertible Senior Notes Due 2019
Mortgage Insurance [Abstract]
Repayments of Convertible Debt	$ 110,100
Loss on induced conversion and debt extinguishment	$ (4,500)
Convertible Debt | Convertible Senior Notes Due 2019
Mortgage Insurance [Abstract]
Debt Instrument, Repurchase Amount		$ 68,000
Reduction in Dilutive Shares Attributable to Redemption of Conversion of Debt Securities | shares	6.4
Total Primary Insurance Mortgage Insurance Products [Member] | Mortgage Insurance Segment
Mortgage Insurance [Abstract]
Concentration Risk, Percentage		98.00%
Pool Insurance Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Mortgage Insurance [Abstract]
Concentration Risk, Percentage		1.90%

Note 2 - Net Income Per Share N

Note 2 - Net Income Per Share Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of share-based compensation arrangements (2)	[1]	4,017	2,418
Adjusted average common shares outstanding—diluted		221,497	239,707
Net income per share - diluted		$ 0.34	$ 0.29
Net Income (Loss) Available to Common Stockholders, Diluted		$ 76,257	$ 69,639
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income—basic		$ 76,472	$ 66,249
Average common shares outstanding - basic		214,925	203,706
Net income per share - basic		$ 0.36	$ 0.33
Convertible Debt | Convertible Senior Notes Due 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1)	[2]	$ (215)	$ 3,390
Dilutive effect of Convertible Senior Notes		1,854	33,583
Convertible Debt | Convertible Senior Notes Due 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of Convertible Senior Notes	[1]	701	0
Stock Compensation Plan [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		445	709
Convertible Debt Securities [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0	1,902
[1]	The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and convertible debt were not included in the calculation of diluted net income per share because they were anti-dilutive: Three Months EndedMarch 31,(In thousands)2017 2016Shares of common stock equivalents445 709Shares of Convertible Senior Notes due 2017— 1,902
[2]	As applicable, includes coupon interest, amortization of discount and fees, and other changes in income or loss that would result from the assumed conversion. Due to the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019, a benefit was recorded to adjust estimated accrued expense to actual amounts.

Note 3 - Segment Reporting Sche

Note 3 - Segment Reporting Schedule of Segment Reporting Information by Segment (Details)		3 Months Ended
		Mar. 31, 2017USD ($)segment	Mar. 31, 2016USD ($)		Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | segment		2
Net premiums earned-insurance		$ 221,800,000	$ 220,950,000
Services revenue		38,027,000	32,849,000
Net investment income		31,032,000	27,201,000
Other income		746,000	666,000
Provision for losses		46,913,000	42,991,000
Policy acquisition costs		6,729,000	6,389,000
Cost of services		28,375,000	23,550,000
Other operating expenses before corporate allocations		68,377,000	57,188,000
Net gains (losses) on investments and other financial instruments		(2,851,000)	31,286,000
Total assets		5,827,760,000			$ 5,863,174,000
Mortgage Insurance Segment
Segment Reporting Information [Line Items]
Net premiums written—insurance	[1]	224,665,000	26,310,000	[2]
(Increase) decrease in unearned premiums		(2,865,000)	194,640,000	[2]
Net premiums earned-insurance		221,800,000	220,950,000	[2]
Net investment income		31,032,000	27,201,000	[2]
Other income		746,000	666,000	[2]
Total	[3]	253,578,000	248,817,000	[2]
Provision for losses		47,232,000	43,275,000	[2]
Policy acquisition costs		6,729,000	6,389,000	[2]
Other operating expenses before corporate allocations		39,289,000	32,546,000	[2]
Total	[4]	93,250,000	82,210,000	[2]
Adjusted pretax operating income (loss) before corporate allocations		160,328,000	166,607,000	[2]
Allocation of corporate operating expenses		14,186,000	9,329,000	[2]
Allocation of interest expense		11,509,000	17,112,000	[2]
Adjusted pretax operating income (loss)	[5]	134,633,000	140,166,000	[2]
Inter-segment expenses		2,062,000	1,599,000
Total assets		5,475,502,000			5,506,338,000
Mortgage and Real Estate Services Segment [Member]
Segment Reporting Information [Line Items]
Services revenue	[6]	40,089,000	34,448,000	[7]
Cost of services		28,690,000	23,854,000	[7]
Other operating expenses before corporate allocations		12,604,000	14,368,000	[7]
Total		41,294,000	38,222,000	[7]
Adjusted pretax operating income (loss) before corporate allocations		(1,205,000)	(3,774,000)	[7]
Allocation of corporate operating expenses		3,718,000	1,751,000	[7]
Allocation of interest expense		4,429,000	4,422,000	[7]
Adjusted pretax operating income (loss)	[5]	(9,352,000)	(9,947,000)	[7]
Inter-segment revenues		2,062,000	$ 1,599,000
Total assets		352,258,000			$ 356,836,000
Corporate Cash and Investments Allocated to Segments		$ 0
[1]	Net of ceded premiums written under the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information.
[2]	Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses.
[3]	Excludes net losses on investments and other financial instruments of $2.9 million for the three months ended March 31, 2017, and net gains on investments and other financial instruments of $31.3 million for the three months ended March 31, 2016, not included in adjusted pretax operating income.
[4]	Includes inter-segment expenses as follows: Three Months EndedMarch 31,(In thousands)2017 2016Inter-segment expenses$2,062 $1,599
[5]	Includes inter-segment expenses and revenues as listed in the notes to the preceding tables.
[6]	Includes inter-segment revenues as follows: Three Months EndedMarch 31,(In thousands)2017 2016Inter-segment revenues$2,062 $1,599
[7]	Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses.

Note 3 - Segment Reporting Reco

Note 3 - Segment Reporting Reconciliation of Segment to Consolidated Results Pretax (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net gains (losses) on investments and other financial instruments		$ (2,851)	$ 31,286
Loss on induced conversion and debt extinguishment		(4,456)	(55,570)
Acquisition-related (expenses) benefits	[1]	(8)	(205)
Amortization and impairment of intangible assets		(3,296)	(3,328)
Consolidated pretax income from continuing operations		114,670	102,402
Mortgage Insurance Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted pretax operating income (loss)	[2]	134,633	140,166	[3]
Mortgage and Real Estate Services Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted pretax operating income (loss)	[2]	(9,352)	(9,947)	[4]
Mortgage Insurance and Mortgage and Real Estate Services Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted pretax operating income (loss)		$ 125,281	$ 130,219
[1]	Acquisition-related expenses represent expenses incurred to effect the acquisition of a business, net of adjustments to accruals previously recorded for acquisition expenses.
[2]	Includes inter-segment expenses and revenues as listed in the notes to the preceding tables.
[3]	Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses.
[4]	Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses.

Note 4 - Fair Value of Financ39

Note 4 - Fair Value of Financial Instruments Fair Value Assets Liabilities by Hierarchy Level (Details) - USD ($)	3 Months Ended			12 Months Ended
	Mar. 31, 2017		Mar. 31, 2016	Dec. 31, 2016
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value by Hierarchy Level [Line Items]
Cost Method Investments	$ 973,000			$ 1,195,000
Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	4,436,743,000	[1]		4,461,235,000	[2]
Total Assets at Fair Value	4,436,743,000			4,461,235,000
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0		$ 0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0		$ 0
US government and agency securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	272,430,000			237,479,000
State and municipal obligations | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	341,197,000			358,536,000
Money market instruments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	384,225,000			431,472,000
Corporate bonds and notes | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	2,115,001,000			2,024,205,000
RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	309,460,000			388,842,000
CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	473,505,000			507,273,000
Other ABS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	488,340,000			450,128,000
Foreign government securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	38,035,000			32,807,000
Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	1,330,000			1,330,000
Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	13,220,000	[3]		29,163,000	[4]
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	651,749,000	[1]		668,951,000	[2]
Total Assets at Fair Value	651,749,000			668,951,000
Fair Value, Inputs, Level 1 | US government and agency securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	267,524,000			237,479,000
Fair Value, Inputs, Level 1 | State and municipal obligations | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | Money market instruments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	384,225,000			431,472,000
Fair Value, Inputs, Level 1 | Corporate bonds and notes | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | Other ABS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | Foreign government securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 1 | Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0	[3]		0	[4]
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	3,783,994,000	[1]		3,791,284,000	[2]
Total Assets at Fair Value	3,783,994,000			3,791,284,000
Fair Value, Inputs, Level 2 | US government and agency securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	4,906,000			0
Fair Value, Inputs, Level 2 | State and municipal obligations | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	341,197,000			358,536,000
Fair Value, Inputs, Level 2 | Money market instruments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 2 | Corporate bonds and notes | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	2,115,001,000			2,024,205,000
Fair Value, Inputs, Level 2 | RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	309,460,000			388,842,000
Fair Value, Inputs, Level 2 | CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	473,505,000			507,273,000
Fair Value, Inputs, Level 2 | Other ABS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	488,340,000			450,128,000
Fair Value, Inputs, Level 2 | Foreign government securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	38,035,000			32,807,000
Fair Value, Inputs, Level 2 | Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	830,000			830,000
Fair Value, Inputs, Level 2 | Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	12,720,000	[3]		28,663,000	[4]
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	1,000,000	[1]		1,000,000	[2]
Total Assets at Fair Value	$ 1,000,000			1,000,000
Total Level III Assets as a Percentage of Total Assets Measured at Fair Value (less than 0.1%)	0.10%
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 0			0
Fair Value, Inputs, Level 3 | US government and agency securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | State and municipal obligations | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | Money market instruments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | Corporate bonds and notes | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | Other ABS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | Foreign government securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	0			0
Fair Value, Inputs, Level 3 | Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	500,000			500,000
Gain (Loss) on Investments	0			0
Fair Value, Inputs, Level 3 | Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	500,000	[3]		500,000	[4]
Gain (Loss) on Investments	$ 0			$ 0
Maximum [Member] | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Level III Assets as a Percentage of Total Assets Measured at Fair Value (less than 0.1%)				0.10%
[1]	Does not include certain other invested assets ($1.0 million), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value.
[2]	Does not include certain other invested assets ($1.2 million), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value.
[3]	Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III.
[4]	Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-reporting issuers, included within Level III.

Note 4 - Fair Value of Financ40

Note 4 - Fair Value of Financial Instruments Other Fair Value Disclosure (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 1,008,777	$ 1,069,537
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost Method Investments	973	1,195
Long-term debt	1,008,777	1,069,537
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost Method Investments, Fair Value Disclosure	3,751	3,789
Long-term Debt, Fair Value	$ 1,104,711	$ 1,214,471

Note 5 - Investments Unrealized

Note 5 - Investments Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2017		Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 2,941,528		$ 2,856,468
Available-for-sale Securities, Debt Securities	2,937,415		2,838,512
Available-for-sale Equity Securities, Amortized Cost Basis	1,330		1,330
Available-for-sale Securities, Equity Securities	1,330		1,330
Amortized Cost Debt and Equity Securities	2,942,858		2,857,798
Available-for-sale Securities	2,938,745		2,839,842
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	25,701		20,827
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	29,814		38,783
US government and agency securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	128,347		78,931
Available-for-sale Securities, Debt Securities	125,466		75,474
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	279		2
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	3,160		3,459
US States and Political Subdivisions Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	67,600		66,124
Available-for-sale Securities, Debt Securities	69,284		67,171
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	2,316		1,868
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	632		821
Corporate bonds and notes
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	1,555,516		1,463,720
Available-for-sale Securities, Debt Securities	1,556,643		1,455,628
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	17,823		14,320
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	16,696		22,412
RMBS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	278,710		358,262
Available-for-sale Securities, Debt Securities	273,549		350,628
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	445		197
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	5,606		7,831
CMBS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	402,847		429,057
Available-for-sale Securities, Debt Securities	402,525		428,289
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	2,248		2,255
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	2,570		3,023
Other ABS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	477,251		433,603
Available-for-sale Securities, Debt Securities	478,099		434,728
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	1,945		2,037
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	1,097		912
Foreign government securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	29,257		24,771
Available-for-sale Securities, Debt Securities	29,849		24,594
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	645		148
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	53		325
Other than Securities Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	2,000		2,000
Available-for-sale Securities, Debt Securities	2,000		2,000
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	0		0
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	0		0
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	2,941,528		2,856,468
Available-for-sale Securities, Debt Securities	2,937,415		2,838,512
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	25,701		20,827
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	29,814		38,783
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	1,330	[1]	1,330	[2]
Available-for-sale Securities, Equity Securities	1,330	[1]	1,330	[2]
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	0	[1]	0	[2]
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	$ 0	[1]	$ 0	[2]
[1]	Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh.
[2]	Primarily consists of investments in Federal Home Loan Bank stock as required in connection with the memberships of Radian Guaranty and Radian Reinsurance in the Federal Home Loan Bank of Pittsburgh.

Note 5 - Investments Schedule o

Note 5 - Investments Schedule of Unrealized Losses (Details) $ in Thousands	Mar. 31, 2017USD ($)security	Dec. 31, 2016USD ($)security
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	335	362
Fair value available-for-sale securities	$ 1,309,877	$ 1,566,440
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 29,214	$ 37,941
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	13	21
Fair value available-for-sale securities	$ 43,681	$ 58,451
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 600	$ 842
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	348	383
Fair value available-for-sale securities	$ 1,353,558	$ 1,624,891
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 29,814	$ 38,783
US government and agency securities
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	9	7
Fair value available-for-sale securities	$ 74,457	$ 73,160
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 3,160	$ 3,459
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	0	0
Fair value available-for-sale securities	$ 0	$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0	$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	9	7
Fair value available-for-sale securities	$ 74,457	$ 73,160
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 3,160	$ 3,459
US States and Political Subdivisions Debt Securities [Member]
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	5	7
Fair value available-for-sale securities	$ 19,981	$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 632	$ 821
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	0	0
Fair value available-for-sale securities	$ 0	$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0	$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	5	7
Fair value available-for-sale securities	$ 19,981	$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 632	$ 821
Corporate bonds and notes
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	150	185
Fair value available-for-sale securities	$ 620,609	$ 788,876
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 16,360	$ 22,135
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	2	2
Fair value available-for-sale securities	$ 4,471	$ 4,582
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 336	$ 277
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	152	187
Fair value available-for-sale securities	$ 625,080	$ 793,458
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 16,696	$ 22,412
RMBS
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	54	56
Fair value available-for-sale securities	$ 217,577	$ 311,031
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 5,541	$ 7,822
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	3	1
Fair value available-for-sale securities	$ 7,308	$ 1,398
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 65	$ 9
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	57	57
Fair value available-for-sale securities	$ 224,885	$ 312,429
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 5,606	$ 7,831
CMBS
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	38	37
Fair value available-for-sale securities	$ 186,354	$ 218,170
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 2,519	$ 2,909
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	3	2
Fair value available-for-sale securities	$ 9,924	$ 6,585
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 51	$ 114
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	41	39
Fair value available-for-sale securities	$ 196,278	$ 224,755
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 2,570	$ 3,023
Other ABS
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	75	58
Fair value available-for-sale securities	$ 186,578	$ 131,268
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 949	$ 470
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	5	16
Fair value available-for-sale securities	$ 21,978	$ 45,886
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 148	$ 442
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	80	74
Fair value available-for-sale securities	$ 208,556	$ 177,154
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,097	$ 912
Foreign government securities
Continuous Loss Position Less Than Twelve Months [Abstract]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	4	12
Fair value available-for-sale securities	$ 4,321	$ 13,034
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 53	$ 325
Continuous Unrealized Loss Position, Twelve Months Or Greater
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	0	0
Fair value available-for-sale securities	$ 0	$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0	$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	4	12
Fair value available-for-sale securities	$ 4,321	$ 13,034
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 53	$ 325

Note 5 - Investments Investment

Note 5 - Investments Investments Trading Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]
Unrealized Gain (Loss) on Trading Securities Held	$ 3,500	$ 16,800
Trading Securities	811,313	879,862
US government and agency securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	33,006	33,042
State and municipal obligations
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	235,864	259,573
Corporate bonds and notes
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	420,633	453,617
RMBS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	35,911	38,214
CMBS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	70,980	78,984
Other ABS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	6,733	8,219
Foreign government securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	$ 8,186	$ 8,213

Note 5 - Investments Gain (Loss

Note 5 - Investments Gain (Loss) on Investments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)security	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)security
Gain (Loss) on Investments [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	335		362
Other gains	$ 18	$ 18
Net realized losses on investments	(8,179)	(5,579)
Unrealized gains on trading securities	5,226	35,231
Total net gains on investments	(2,953)	29,652
Net gains on other financial instruments	102	1,634
Net gains on investments and other financial instruments	(2,851)	31,286
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	1,309,877		$ 1,566,440
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 29,214		$ 37,941
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	13		21
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 43,681		$ 58,451
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 600		$ 842
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	348		383
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 1,353,558		$ 1,624,891
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	29,814		$ 38,783
Fixed Maturities [Member]
Gain (Loss) on Investments [Line Items]
Available-for-sale Securities, Gross Realized (Loss) Gain, Excluding Other than Temporary Impairments	(2,509)	(3,148)
Equity securities
Gain (Loss) on Investments [Line Items]
Available-for-sale Securities, Gross Realized (Loss) Gain, Excluding Other than Temporary Impairments	0	(170)
Trading Securities [Member]
Gain (Loss) on Investments [Line Items]
Trading securities	(5,694)	(2,240)
Short-term Investments [Member]
Gain (Loss) on Investments [Line Items]
Short-term investments	6	(39)
Other investments
Gain (Loss) on Investments [Line Items]
Cost-method Investments, Realized Gain (Loss), Excluding Other than Temporary Impairments	$ 0	$ 0
US States and Political Subdivisions Debt Securities [Member]
Gain (Loss) on Investments [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | security	5		7
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 19,981		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 632		$ 821
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	0		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 0		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	5		7
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 19,981		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 632		$ 821

Note 5 - Investments Schedule45

Note 5 - Investments Schedule of Contractual Maturities (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Available-for-sale Securities, Amortized Cost
Available-for-sale Debt Securities, Amortized Cost Basis		$ 2,941,528	$ 2,856,468
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Securities		2,937,415	2,838,512
Debt Securities
Available-for-sale Securities, Amortized Cost
Available-for-sale Debt Securities, Amortized Cost Basis		2,941,528
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Securities		2,937,415
Non Asset Backed Security Investments, Contractual Maturities
Available-for-sale Securities, Amortized Cost
Due in one year or less	[1]	65,472
Due after one year through five years	[1]	411,562
Due after five years through ten years	[1]	905,821
Due after ten years	[1]	399,864
Available-for-sale Securities, Fair Value
Due in one year or less	[1]	65,502
Due after one year through five years	[1]	414,006
Due after five years through ten years	[1]	901,736
Due after ten years	[1]	401,998
RMBS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	278,710
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	273,549
CMBS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	402,848
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	402,525
Other ABS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	477,251
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	478,099
2013 Freddie Mac Agreement [Member] | Radian Guaranty Inc [Member]
Available-for-sale Securities, Fair Value
Marketable Securities, Restricted		$ 64,300	$ 63,900
[1]	Actual maturities may differ as a result of calls before scheduled maturity.
[2]	RMBS, CMBS and Other ABS are shown separately, as they are not due at a single maturity date.

Note 6 - Goodwill and Other I46

Note 6 - Goodwill and Other Intangible Assets, Net Schedule of Goodwill (Details) - Mortgage and Real Estate Services Segment [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill, Gross, Beginning of Period	$ 197,265	$ 197,265
Goodwill, Acquired During Period	126	0
Goodwill, Gross, End of Period	197,391	197,265
Goodwill, Impaired, Accumulated Impairment Loss, Beginning of Period	(2,095)	(2,095)
Goodwill, Impairment Loss	0	0
Goodwill, Impaired, Accumulated Impairment Loss, End of Period	(2,095)	(2,095)
Goodwill, Net	$ 195,296	$ 195,170	$ 195,170

Note 6 - Goodwill and Other I47

Note 6 - Goodwill and Other Intangible Assets, Net Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Net carrying amount	$ 77,772
Mortgage and Real Estate Services Segment [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	113,784	$ 113,771
Accumulated amortization	(36,012)	(32,713)
Net carrying amount	77,772	81,058
Mortgage and Real Estate Services Segment [Member] | Client Relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	83,329	83,316
Accumulated amortization	(21,952)	(19,696)
Net carrying amount	61,377	63,620
Mortgage and Real Estate Services Segment [Member] | Technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	15,250	15,250
Accumulated amortization	(6,125)	(5,497)
Net carrying amount	9,125	9,753
Mortgage and Real Estate Services Segment [Member] | Trade name and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	8,340	8,340
Accumulated amortization	(2,346)	(2,125)
Net carrying amount	5,994	6,215
Mortgage and Real Estate Services Segment [Member] | Client backlog
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,680	6,680
Accumulated amortization	(5,427)	(5,235)
Net carrying amount	1,253	1,445
Mortgage and Real Estate Services Segment [Member] | Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	185	185
Accumulated amortization	(162)	(160)
Net carrying amount	$ 23	$ 25

Note 6 - Goodwill and Other I48

Note 6 - Goodwill and Other Intangible Assets, Net Schedule of Future Amortization Expense for Finite Lived Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 9,351
Finite-Lived Intangible Assets, Amortization Expense, Year Two	12,054
Finite-Lived Intangible Assets, Amortization Expense, Year Three	10,795
Finite-Lived Intangible Assets, Amortization Expense, Year Four	9,186
Finite-Lived Intangible Assets, Amortization Expense, Year Five	7,376
Finite-Lived Intangible Assets, Amortization Expense, Year Five	6,533
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 22,477
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years
Finite-Lived Intangible Assets, Net	$ 77,772

Note 7 - Reinsurance Reinsuranc

Note 7 - Reinsurance Reinsurance Premiums Written and Earned (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Premiums Earned, Net [Abstract]
Net premiums earned-insurance		$ 221,800	$ 220,950
Mortgage Insurance Segment
Premiums Written, Net [Abstract]
Direct Premiums Written		239,645	233,926
Ceded Premiums Written	[1]	(14,980)	(207,616)
Net premiums written	[2]	224,665	26,310	[3]
Premiums Earned, Net [Abstract]
Direct Premiums Earned		236,062	240,330
Assumed Premiums Earned		7	9
Ceded Premiums Earned	[1]	(14,269)	(19,389)
Net premiums earned-insurance		$ 221,800	$ 220,950	[3]
[1]	Net of profit commission.
[2]	Net of ceded premiums written under the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information.
[3]	Reflects 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 are now reflected in the Services segment. As a result, Services revenue, cost of services and other operating expenses have increased, with offsetting reductions in Mortgage Insurance other income and other operating expenses.

Note 7 - Reinsurance Reinsura50

Note 7 - Reinsurance Reinsurance Transactions (Details) - Reinsurer Concentration Risk [Member] - Radian Guaranty - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Quota Share Reinsurance Transactions [Member]
Ceded Credit Risk [Line Items]
Ceded Premiums Written	[1]	$ 5,457	$ 7,962
Ceded Premiums Earned	[1]	7,834	11,325
Accrued Liabilities for Commissions, Expense and Taxes		1,559	2,270
Fees and Commissions	[2]	3,894	4,446
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments		570	541
Single Premium QSR Transaction [Member]
Ceded Credit Risk [Line Items]
Ceded Premiums Written	[1]	8,960	197,593	[3]
Ceded Premiums Earned	[1]	5,859	5,994
Accrued Liabilities for Commissions, Expense and Taxes		3,712	50,932
Fees and Commissions	[2]	2,937	3,032
Risk In Force		3,900,000	3,300,000
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments		573	536
First Lien Mortgage Insurance Products [Member] | Quota Share Reinsurance Transactions [Member]
Ceded Credit Risk [Line Items]
Risk In Force		$ 1,500,000	$ 2,000,000
[1]	Net of profit commission.
[2]	Includes amounts reported in policy acquisition costs and other operating expenses.
[3]	Includes ceded premiums for policies written in prior periods. See Note 8 of Notes to Consolidated Financial Statements in our 2016 Form 10-K.

Note 8 - Other Assets (Details)

Note 8 - Other Assets (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Deposit with the IRS (Note 9)		$ 88,557		$ 88,557
Corporate-owned life insurance		83,865		83,248
Property and equipment	[1],[2]	74,241		70,665
Accrued investment income		30,381		29,255
Deferred policy acquisition costs		13,724		14,127
Reinsurance recoverables		7,849		7,368
Other		58,818		50,615
Total other assets		357,435		343,835
Property and Equipment, Owned, Accumulated Depreciation		122,600		118,500
Depreciation		4,100	$ 2,300
Technology Upgrade Related Costs [Member]
Property and equipment		$ 48,400		$ 49,700
[1]	Includes $48.4 million and $49.7 million at March 31, 2017 and December 31, 2016, respectively, related to our technology upgrade project.
[2]	Property and equipment at cost, less accumulated depreciation of $122.6 million and $118.5 million at March 31, 2017 and December 31, 2016, respectively. Depreciation expense was $4.1 million and $2.3 million for the three-month periods ended March 31, 2017 and 2016, respectively.

Note 9 - Income Taxes Income Ta

Note 9 - Income Taxes Income Tax (Details)	Mar. 31, 2017USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 561,000,000
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	0
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	8,400,000
State and Local NOL Carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Amount	$ 49,300,000

Note 9 - Income Taxes Summary o

Note 9 - Income Taxes Summary of Income Tax Examinations (Details) - Internal Revenue Service (IRS) [Member] - USD ($) $ in Millions	Mar. 31, 2017	Sep. 04, 2014	May 31, 2010	Jun. 30, 2008
Income Tax Examination [Line Items]
Income Tax Examination, Amount of Claimed Income Tax Refund Being Disallowed for Tax Years 2006 and 2007		$ 105
REMIC Residual [Member]
Income Tax Examination [Line Items]
Qualified Deposit With The U.S. Department Of Treasury Relating to Tax Years 2000 Through 2004				$ 85
Qualified Deposit With The U.S. Department Of Treasury Relating To Tax Years 2005 Through 2007			$ 4
Income Tax Examination, Penalties Accrued		$ 157
Income Tax Examination, Notice of Deficiency, Amounts Related to Unpaid Taxes and Penalties	$ 139
Income Tax Examination, Proposed State Liabilities Resulting from IRS Examination of Tax Years 2000 Through 2007	$ 35

Note 10 - Losses and LAE Mortga

Note 10 - Losses and LAE Mortgage Insurance Reserves by Product (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Claims and Claims Adjustment Expense		$ 726,169	$ 760,269
Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reinsurance recoverables	[1]	7,708	6,851	$ 8,239	$ 8,286
Liability for Claims and Claims Adjustment Expense		726,169	760,269	$ 891,348	$ 976,399
Prime Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Unpaid Claims		362,804	379,845
Alt A Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Unpaid Claims		140,543	148,006
A Minus and Below Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Unpaid Claims		96,373	101,653
Primary Mortgage Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Incurred but Not Reported Claims	[2]	70,651	71,107
Liability for Claims Adjustment Expense		17,551	18,630
Reinsurance recoverables	[3]	7,680	6,816
Total Primary Insurance Mortgage Insurance Products [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Claims and Claims Adjustment Expense		695,602	726,057
Pool Insurance Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Unpaid Claims		28,453	31,853
Liability for Incurred but Not Reported Claims		603	673
Liability for Claims Adjustment Expense		822	932
Reinsurance recoverables	[3]	28	35
Liability for Claims and Claims Adjustment Expense		29,906	33,493
First Lien Mortgage Insurance Products [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Claims and Claims Adjustment Expense		725,508	759,550
Second Lien Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Claims and Claims Adjustment Expense	[4]	$ 661	$ 719
[1]	Related to ceded losses recoverable, if any, on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information.
[2]	Primarily related to expected payments under the Freddie Mac Agreement.
[3]	Represents ceded losses on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction.
[4]	Does not include our Second-lien premium deficiency reserve that is included in other liabilities.

Note 10 - Losses and LAE Mort55

Note 10 - Losses and LAE Mortgage Insurance Loss Reserves Rollforward (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Loss reserve [Roll Forward]
Balance at January 1		$ 760,269
Deduct paid claims and LAE related to [Abstract]
Balance at March 31		726,169		$ 760,269
Mortgage Insurance Segment
Loss reserve [Roll Forward]
Balance at January 1		760,269	$ 976,399	976,399
Less reinsurance recoverables	[1]	6,851	8,286	8,286
Balance at beginning of period, net of reinsurance recoverables		753,418	968,113	968,113
Add losses and LAE incurred in respect of default notices reported and unreported in [Abstract]
Current year	[2]	51,447	56,171
Prior years		(4,316)	(13,504)
Total incurred losses and LAE		47,131	42,667
Deduct paid claims and LAE related to [Abstract]
Paid Losses and LAE Current year	[2]	42	65
Paid losses and LAE Prior years		82,046	127,606
Total paid losses and LAE		82,088	127,671
Balance at end of period, net of reinsurance recoverables		718,461	883,109	753,418
Add reinsurance recoverables	[1]	7,708	8,239	6,851
Balance at March 31		$ 726,169	$ 891,348	$ 760,269
Default To Claim Rate Detail [Abstract]
Default To Claim Rate Estimate, Gross, For New Defaults		11.50%	12.50%	12.00%
Mortgage Insurance Segment | Primary Mortgage Product [Member]
Loss reserve [Roll Forward]
Less reinsurance recoverables	[3]	$ 6,816
Deduct paid claims and LAE related to [Abstract]
Add reinsurance recoverables	[3]	$ 7,680		$ 6,816
Default To Claim Rate Detail [Abstract]
Weighted Average Default To Claim Rate Assumption Net Of Denials Rescissions and Reinstatements		45.00%		42.00%
Weighted Average Default To Claim Rate Assumption Excluding Pending Claims Net Of Denials And Rescissions		43.00%		40.00%
Default To Claim Rate Estimate, Gross, For Pre-Foreclosure Stage Defaults		62.00%
Gross Default To Claim Rate Estimate		81.00%
[1]	Related to ceded losses recoverable, if any, on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction. See Note 7 for additional information.
[2]	Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.
[3]	Represents ceded losses on captive reinsurance transactions, the QSR Transactions and the Single Premium QSR Transaction.

Note 10 - Losses and LAE Rescis

Note 10 - Losses and LAE Rescissions And Denials (Details) - USD ($) $ in Thousands	Aug. 29, 2017	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Rescissions And Denials [Line Items]
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		$ 726,169	$ 760,269
Mortgage Insurance Segment
Rescissions And Denials [Line Items]
Decrease To Our Loss Reserves Due To Estimated Rescissions And Denials		28,000	39,000
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount		13,500	14,300
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		726,169	760,269	$ 891,348	$ 976,399
2013 Freddie Mac Agreement [Member]
Rescissions And Denials [Line Items]
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		57,700
2013 Freddie Mac Agreement [Member] | Radian Guaranty Inc [Member]
Rescissions And Denials [Line Items]
Marketable Securities, Restricted		$ 64,300	$ 63,900
2013 Freddie Mac Agreement [Member] | Radian Guaranty Inc [Member] | Scenario, Forecast [Member]
Rescissions And Denials [Line Items]
Not Final Loss Mitigation Activity (less than)	$ 62,000

Note 11 - Long-Term Debt Schedu

Note 11 - Long-Term Debt Schedule of Long Term Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 27, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt		$ 1,008,777		$ 1,069,537
Loss on induced conversion and debt extinguishment		$ (4,456)	$ (55,570)
Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.00%
Long-term debt		$ 21,303		20,947
Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.25%
Long-term debt		$ 0		62,013
Debt Instrument, Convertible, Conversion Price		$ 10.60
Repayments of Convertible Debt	$ 110,100
Loss on induced conversion and debt extinguishment	$ 4,500
Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.50%
Long-term debt		$ 297,206		296,907
Senior Notes Due 2020
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.25%
Long-term debt		$ 345,618		345,308
Senior Notes Due 2021
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.00%
Long-term debt		$ 344,650		344,362
Convertible Debt | Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Long-term debt		21,303		20,947
Convertible Debt | Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Long-term debt		$ 0		$ 62,013

Note 11 - Long-Term Debt Sche58

Note 11 - Long-Term Debt Schedule of Convertible Debt (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Net carrying amount		$ 1,008,777		$ 1,069,537
Equity component of currently redeemable convertible senior notes		883		0
Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Debt Instrument, Convertible, Carrying Amount of Equity Component		5,000		5,000
Net carrying amount		21,303		20,947
Equity component of currently redeemable convertible senior notes		883		0
Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Convertible, Carrying Amount of Equity Component				13,100
Net carrying amount		0		62,013
Equity component of currently redeemable convertible senior notes		0		0
Convertible Debt | Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Principal amount of convertible debt in liabilities		22,233		22,233
Less: Debt discount, net (1)	[1]	(883)		(1,221)
Less: Debt issuance costs (1)	[1]	(47)		(65)
Net carrying amount		21,303		20,947
Contractual interest expense (benefit)	[2]	167	$ 372
Amortization of debt issuance costs		18	37
Amortization of debt discount		338	708
Total interest expense (benefit)	[2]	523	1,117
Convertible Debt | Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Principal amount of convertible debt in liabilities		0		68,024
Less: Debt discount, net (1)	[1]	0		(5,461)
Less: Debt issuance costs (1)	[1]	0		(550)
Net carrying amount		0		$ 62,013
Contractual interest expense (benefit)	[2]	(510)	2,013
Amortization of debt issuance costs		16	293
Amortization of debt discount		163	2,909
Total interest expense (benefit)	[2]	$ (331)	$ 5,215
[1]	Included within long-term debt and is being amortized over the life of the convertible notes.
[2]	Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded.

Note 12 - Commitments and Con59

Note 12 - Commitments and Contingencies Legal Proceedings (Details)	3 Months Ended
	Mar. 31, 2017matter	Dec. 22, 2016loan
Unasserted Claim [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Minimum Number of Pending or Threatened Matters That Could Affect Our Results | matter	1
Total Primary Insurance Mortgage Insurance Products [Member] | Insurance Claims [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Legal Actions Commencement, Period	2 years
Pool Insurance Mortgage Insurance Product [Member] | Insurance Claims [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Legal Actions Commencement, Period	3 years
Ocwen Filings [Member] | Insurance Claims [Member]
Loss Contingencies [Line Items]
Number Of Home Mortgage Loans Involved In Pending Litigation | loan		9,420

Note 12 - Commitments and Con60

Note 12 - Commitments and Contingencies Guarantor Obligations (Details) - Indirect Guarantee of Indebtedness [Member] $ in Millions	Mar. 31, 2017USD ($)transaction
Guarantees [Abstract]
Number of Guaranteed Structured Transactions | transaction	2
Guarantor Obligations, Maximum Exposure, Undiscounted | $	$ 107.7

Note 13 - Capital Stock (Detail

Note 13 - Capital Stock (Details) - Second Quarter 2016 Repurchase Program [Member] - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2017	Jun. 29, 2016
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 125	$ 125
Stock Repurchased During Period, Shares	0

Note 14 - Accumulated Other C62

Note 14 - Accumulated Other Comprehensive Income Rollforward of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive Income, Net of Tax [Abstract]
AOCI, Net of Tax, beginning balance		$ (12,395)
Unrealized holding gains (losses) arising during the period		7,367	$ 39,374
Less: Reclassification adjustment for net gains (losses) included in net income		(1,631)	(2,157)
Net foreign currency translation adjustments		34	(85)
Net actuarial gains (losses)		0	(178)
Other comprehensive income		9,032	41,268
AOCI, Net of Tax, ending balance		(3,363)
Other Comprehensive Income
Other Comprehensive Income, before Tax [Abstract]
AOCI before Tax, Attributable to Parent, beginning balance		(19,063)	(28,425)
Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax		11,334	60,575
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	[1]	(2,509)	(3,318)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax		13,843	63,893
Net foreign currency translation adjustments, before tax		52	(130)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax			(274)
Other comprehensive income, before tax		13,895	63,489
AOCI before Tax, Attributable to Parent, ending balance		(5,168)	35,064
Other Comprehensive Income, Tax [Abstract]
AOCI, Tax, beginning balance		(6,668)	(9,948)
Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax		3,967	21,201
Less: Reclassification adjustment for net (losses) gains included in net income, tax	[1]	(878)	(1,161)
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax		4,845	22,362
Net foreign currency translation adjustments, tax		18	(45)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax			(96)
Other Comprehensive Income, Tax		4,863	22,221
AOCI Tax, ending balance		(1,805)	12,273
Other Comprehensive Income, Net of Tax [Abstract]
AOCI, Net of Tax, beginning balance		(12,395)	(18,477)
Unrealized holding gains (losses) arising during the period		7,367	39,374
Less: Reclassification adjustment for net gains (losses) included in net income	[1]	(1,631)	(2,157)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent		8,998	41,531
Net foreign currency translation adjustments		34	(85)
Net actuarial gains (losses)			(178)
Other comprehensive income		9,032	41,268
AOCI, Net of Tax, ending balance		$ (3,363)	$ 22,791
[1]	Included in net gains (losses) on investments and other financial instruments on our consolidated statements of operations.

Note 15 - Statutory Informati63

Note 15 - Statutory Information Statutory Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Reportable Subsegments [Member]
Statutory Accounting Practices [Line Items]
Restricted Net Assets Held by Consolidated Subsidiaries	$ 3,100
Radian Guaranty
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Increase (Decrease)	(175)
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,167.7	$ 1,349.7
Statutory Accounting Practices, Dividends Paid with Approval of Regulatory Agency	175
Radian Reinsurance [Member]
Statutory Accounting Practices [Line Items]
Capital Contributions	175
Statutory Accounting Practices, Statutory Capital and Surplus, Increase (Decrease)	175
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 321	$ 147.6

Note 15 - Statutory Informati64

Note 15 - Statutory Information Risk To Capital Calculation (Details) $ in Millions		3 Months Ended
		Mar. 31, 2017USD ($)state	Dec. 31, 2016USD ($)
Risk to Capital Line Items [Line Items]
Number Of States That Have A Statutory Or Regulatory Risk Based Capital Requirement | state		16
Risk To Capital Ratio, Regulatory Maximum		25
Radian Reinsurance [Member]
Risk to Capital Line Items [Line Items]
Statutory policyholders’ surplus		$ 321	$ 147.6
Capital Contributions		175
Radian Guaranty
Risk to Capital Line Items [Line Items]
Statutory Accounting Practices, Dividends Paid with Approval of Regulatory Agency		175
RIF, net (1)	[1]	36,014.5	35,357.8
Common stock and paid-in capital		1,867	2,041
Unassigned earnings (deficit)		(699.3)	(691.3)
Statutory policyholders’ surplus		1,167.7	1,349.7
Contingency reserve		1,358.9	1,260.6
Statutory capital		$ 2,526.6	$ 2,610.3
Risk-to-capital		14.3	13.5
Statutory Accounting Practices, Statutory Net Income Amount		$ 94.2
Non RBC States [Member] | Minimum [Member]
Risk to Capital Line Items [Line Items]
Capital Required for Capital Adequacy		1
Non RBC States [Member] | Maximum [Member]
Risk to Capital Line Items [Line Items]
Capital Required for Capital Adequacy		$ 5
Reportable Subsegments [Member]
Risk to Capital Line Items [Line Items]
Risk-to-capital		13.4	13.6
[1]	Excludes risk ceded through reinsurance contracts (to third parties and affiliates) and RIF on defaulted loans.