Radian (RDN) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2017	Aug. 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	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		215,263,996
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	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Fixed-maturities available for sale—at fair value (amortized cost $3,129,901 and $2,856,468)	$ 3,158,843	$ 2,838,512
Equity securities available for sale—at fair value (cost $176,930 and $1,330)	176,808	1,330
Trading securities—at fair value	708,788	879,862
Short-term investments—at fair value	538,620	741,531
Other invested assets	783	1,195
Total investments	4,583,842	4,462,430
Cash	56,918	52,149
Restricted cash	25,486	9,665
Accounts and notes receivable	78,540	77,631
Deferred income taxes, net (Note 9)	389,759	411,798
Goodwill and other intangible assets, net (Note 6)	69,857	276,228
Prepaid reinsurance premium	235,349	229,438
Other assets (Note 8)	377,355	343,835
Total assets	5,817,106	5,863,174
Liabilities and Stockholders’ Equity
Unearned premiums	702,210	681,222
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)	651,591	760,269
Long-term debt (Note 11)	989,010	1,069,537
Reinsurance funds withheld	180,991	158,001
Other liabilities	379,144	321,859
Total liabilities	2,902,946	2,990,888
Commitments and contingencies (Note 12)
Equity component of currently redeemable convertible senior notes (Note 11)	16	0
Stockholders’ equity
Common stock: par value $.001 per share; 485,000,000 shares authorized at June 30, 2017 and December 31, 2016; 232,757,360 and 232,091,921 shares issued at June 30, 2017 and December 31, 2016, respectively; 215,174,898 and 214,521,079 shares outstanding at June 30, 2017 and December 31, 2016, respectively	233	232
Treasury stock, at cost: 17,582,462 and 17,570,842 shares at June 30, 2017 and December 31, 2016, respectively	(893,531)	(893,332)
Additional paid-in capital	2,743,872	2,779,891
Retained earnings	1,045,453	997,890
Accumulated other comprehensive income (loss) (“AOCI”) (Note 14)	18,117	(12,395)
Total stockholders’ equity	2,914,144	2,872,286
Total liabilities and stockholders’ equity	$ 5,817,106	$ 5,863,174

Balance Sheet Parenthetical (Pa

Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Available-for-sale Debt Securities, Amortized Cost Basis	$ 3,129,901	$ 2,856,468
Available-for-sale Equity Securities, Amortized Cost Basis	$ 176,930	$ 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	232,757,360	232,091,921
Common Stock, Shares, Outstanding	215,174,898	214,521,079
Treasury Stock, Shares	17,582,462	17,570,842

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Net premiums earned—insurance	$ 229,096	$ 229,085	$ 450,896	$ 450,035
Services revenue	37,802	40,263	75,829	73,112
Net investment income	30,071	28,839	61,103	56,040
Net gains (losses) on investments and other financial instruments	5,331	30,527	2,480	61,813
Other income	612	1,454	1,358	2,120
Total revenues	302,912	330,168	591,666	643,120
Expenses:
Provision for losses	17,222	49,725	64,135	92,716
Policy acquisition costs	6,123	5,393	12,852	11,782
Cost of services	25,635	27,365	54,010	50,915
Other operating expenses	68,750	63,173	137,127	120,361
Interest expense	16,179	22,546	32,117	44,080
Loss on induced conversion and debt extinguishment (Note 11)	1,247	2,108	5,703	57,678
Impairment of goodwill (Note 6)	184,374	0	184,374	0
Amortization and impairment of other intangible assets	18,856	3,311	22,152	6,639
Total expenses	338,386	173,621	512,470	384,171
Pretax income (loss)	(35,474)	156,547	79,196	258,949
Income tax provision (benefit)	(8,132)	58,435	30,066	94,588
Net income (loss)	$ (27,342)	$ 98,112	$ 49,130	$ 164,361
Earnings Per Share, Basic [Abstract]
Basic net income (loss) per share	$ (0.13)	$ 0.46	$ 0.23	$ 0.79
Earnings Per Share, Diluted [Abstract]
Diluted net income (loss) per share	$ (0.13)	$ 0.44	$ 0.22	$ 0.73
Weighted-average number of common shares outstanding—basic	215,152	214,274	215,054	208,991
Weighted-average number of common and common equivalent shares outstanding—diluted	215,152	226,203	220,474	232,945
Dividends per share	$ 0.0025	$ 0.0025	$ 0.0050	$ 0.0050

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income (loss)	$ (27,342)	$ 98,112	$ 49,130	$ 164,361
Unrealized holding gains (losses) arising during the period
Unrealized holding gains (losses) arising during the period	20,239	40,297	27,606	79,671
Less: Reclassification adjustment for net gains (losses) included in net income (loss)	(1,167)	758	(2,798)	(1,399)
Net unrealized gains (losses) on investments	21,406	39,539	30,404	81,070
Net foreign currency translation adjustments	74	(225)	108	(310)
Net actuarial gains (losses)	0	0	0	(178)
Other comprehensive income (loss), net of tax	21,480	39,314	30,512	80,582
Comprehensive income (loss)	$ (5,862)	$ 137,426	$ 79,642	$ 244,943

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]
Impact to common stock related to extinguishment of Convertible Senior Notes			17
Issuance of common stock under incentive and benefit plans			0
Stock Repurchased and Retired During Period, Value			(9)		(100,179)
Share-based compensation					14,428
Issuance of common stock under incentive and benefit plans					726
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)					149,543
Equity Impact of Termination of Capped Call Transaction					0
Change in equity component of currently redeemable convertible senior notes					0
Repurchases of common stock under incentive plans				0
Net income (loss)	$ 164,361					164,361
Dividends declared						(1,033)
Net foreign currency translation adjustment, net of tax	(310)						(310)
Net unrealized gains (losses) on investments, net of tax	81,070						81,070
Net actuarial gains (losses)	(178)						(178)
Balance, end of period at Jun. 30, 2016		$ 2,805,367	232	(893,176)	2,781,136	855,070	62,105
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]
Impact to common stock related to extinguishment of Convertible Senior Notes			0
Issuance of common stock under incentive and benefit plans			1
Stock Repurchased and Retired During Period, Value			0		(6)
Share-based compensation					7,676
Issuance of common stock under incentive and benefit plans					3,840
Impact of extinguishment of Convertible Senior Notes due 2017 and 2019 (Note 11)					(52,352)
Equity Impact of Termination of Capped Call Transaction					4,083
Change in equity component of currently redeemable convertible senior notes					(16)
Repurchases of common stock under incentive plans				(199)
Net income (loss)	49,130					49,130
Dividends declared						(1,076)
Net foreign currency translation adjustment, net of tax	108						108
Net unrealized gains (losses) on investments, net of tax	30,404						30,404
Net actuarial gains (losses)	0						0
Balance, end of period at Jun. 30, 2017	$ 2,914,144	$ 2,914,144	$ 233	$ (893,531)	2,743,872	1,045,453	$ 18,117
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	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Cash Provided by (Used in) Operating Activities	$ 206,412	$ 150,796
Cash flows from investing activities:
Proceeds from Sale and Maturity of Fixed-Maturity Investments Available-for-sale	649,687	306,575
Proceeds from Sale of Available-for-sale Securities, Equity	18,103	74,868
Proceeds from Sale of Trading Securities Held-for-investment	130,022	150,118
Proceeds from Redemption of Fixed-Maturity Investments Available-for-sale	260,848	137,909
Proceeds from Redemption of Trading Securities Held-for-investment	43,603	60,127
Purchases of Fixed-Maturity Investments Available-for-sale	(1,147,875)	(1,170,474)
Equity securities available for sale	(193,409)	0
Sales, Redemptions and (Purchases) of Short-term Investments	201,942	276,292
Sales, Redemptions and (Purchases) of Other assets and other invested assets, net	412	1,157
Purchases of property and equipment, net	(13,444)	(16,626)
Acquisitions, net of cash acquired	(86)	0
Net cash provided by (used in) investing activities	(50,197)	(180,054)
Cash flows from financing activities:
Dividends paid	(1,076)	(1,033)
Issuance of long-term debt, net	0	343,549
Purchases and redemptions of long-term debt	(141,686)	(208,251)
Proceeds from termination of capped calls	4,083	0
Issuance of common stock	3,123	65
Purchase of common shares	(6)	(100,188)
Excess tax benefits from share-based awards (Note 1)	0	63
Repayment of other borrowings	(140)	(206)
Net cash provided by (used in) financing activities	(135,702)	33,999
Effect of exchange rate changes on cash and restricted cash	77	(279)
Increase (decrease) in cash and restricted cash	20,590	4,462
Cash and restricted cash, beginning of period	61,814	59,898
Cash and restricted cash, end of period	$ 82,404	$ 64,360

Note 1 - Condensed Consolidated

Note 1 - Condensed Consolidated Financial Statements - Business Overview and Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 98.2% of our $49.8 billion total direct RIF as of June 30, 2017 . At June 30, 2017 , Pool Insurance represented 1.7% 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 could 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 June 30, 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. The PMIERs specifically provide that the factors that are applied to determine a mortgage insurer’s Minimum Required Assets are to be updated every two years. The GSEs have recently informed us that they expect updates to the PMIERs will become effective in the fourth quarter of 2018. Based on this timing, we expect to receive a draft of the recommended changes late this year and to then engage in an iterative process with the GSEs and FHFA before the updated PMIERs are finalized. The GSEs will provide approved insurers with an implementation period of at least 180 days after the updated requirements are finalized and prior to their effective date. 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 currently 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. 2017 Developments During the second quarter of 2017, we recorded a goodwill impairment charge of $184.4 million , as well as an impairment charge for other intangible assets of $15.8 million , in each case related to our Services segment. These charges were primarily due to changes in expectations regarding the future growth of certain Services product lines resulting from changes in our business strategy, combined with market trends observed during the second quarter of 2017 that we expect to persist. As a result, as of June 30, 2017 the remaining balances of goodwill and other intangible assets reported in our condensed consolidated balance sheet were $10.9 million and $58.9 million , respectively. See Note 6 for additional information. During the second quarter of 2017, we entered into privately negotiated agreements to purchase a portion of our outstanding Convertible Senior Notes due 2017 in an aggregate principal amount of $21.6 million . We funded the purchases with $31.6 million in cash (plus accrued and unpaid interest due on the purchased notes). These purchases of Convertible Senior Notes due 2017 resulted in a loss on induced conversion and debt extinguishment of $1.2 million . See Note 11 for additional information on this transaction. On January 27, 2017, we settled our obligations with respect to the remaining $68.0 million aggregate principal amount of our Convertible Senior Notes due 2019 for a cash payment of $110.1 million , resulting in a loss on induced conversion and debt extinguishment of $4.5 million . 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. There have been no significant changes in our significant accounting policies from those discussed in our 2016 Form 10-K, other than described below. In performing the quantitative analysis for our goodwill impairment test as of June 30, 2017, we elected to early adopt the update to the accounting standard regarding goodwill and other intangibles, as discussed below in “— Accounting Standards Adopted During 2017 .” This update simplifies the subsequent measurement of goodwill by eliminating step two of the goodwill impairment test. Under the new guidance, if indicators for impairment are present, we perform a quantitative analysis to evaluate our long-lived assets for potential impairment, and then determine the amount of the goodwill impairment by comparing a reporting unit’s fair value to its carrying amount. After adjusting the carrying value for any impairment of other intangibles or long-lived assets, an impairment charge is recognized for any excess of the reporting unit’s carrying amount over the reporting unit’s estimated fair value, up to the full amount of the goodwill allocated to the reporting unit. Other than the change to adopt the update to the accounting standard that eliminates step two of the goodwill impairment test, as described above, our accounting policy with regard to goodwill and other intangible assets has remained unchanged from that described in Notes 2 and 7 of Notes to Consolidated Financial Statements in our 2016 Form 10-K. 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. 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, after adjusting the carrying value for any impairment of other intangibles or long-lived assets. 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 elected to early adopt this update to perform the quantitative analysis for our goodwill impairment test as of June 30, 2017. See “— Other Significant Accounting Policies ,” above, and Note 6 for additional information. 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 either the full retrospective or the modified retrospective transition method. We currently anticipate using the modified retrospective method of adoption, with the cumulative effect of initially applying the guidance recognized at the date of adoption. We are currently in the process of reviewing current accounting policies and key contracts that are representative of our various products and services within the Services segment. 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 (loss); (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. 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 for 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 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	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Income Per Share	Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding, while diluted net income (loss) per share is computed by dividing net income (loss) 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 (loss) per share was as follows: Three Months Ended Six Months Ended (In thousands, except per-share amounts) 2017 2016 2017 2016 Net income (loss)—basic $ (27,342 ) $ 98,112 $ 49,130 $ 164,361 Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1) — 913 (215 ) 4,303 Net income (loss)—diluted $ (27,342 ) $ 99,025 $ 48,915 $ 168,664 Average common shares outstanding—basic 215,152 214,274 215,054 208,991 Dilutive effect of Convertible Senior Notes due 2017 (2) — 12 602 — Dilutive effect of Convertible Senior Notes due 2019 — 8,928 922 21,256 Dilutive effect of share-based compensation arrangements (2) — 2,989 3,896 2,698 Adjusted average common shares outstanding—diluted 215,152 226,203 220,474 232,945 Net income (loss) per share: Basic $ (0.13 ) $ 0.46 $ 0.23 $ 0.79 Diluted $ (0.13 ) $ 0.44 $ 0.22 $ 0.73 ______________________ (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. Included in the six months ended June 30, 2017 is a benefit related to our adjustment of estimated accrued expense to actual amounts, resulting from the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019. (2) There were no dilutive shares for the three months ended June 30, 2017, as a result of our net loss for the period. The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and our convertible debt were not included in the calculation of diluted net income (loss) per share because they were anti-dilutive: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Shares of common stock equivalents 5,975 1,042 442 1,042 Shares of Convertible Senior Notes due 2017 509 — — 1,902

Note 3 - Segment Reporting

Note 3 - Segment Reporting	6 Months Ended
	Jun. 30, 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 reclassification 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. The amounts reclassified did not have a material impact on adjusted pretax operating income. 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 or impairment of goodwill and other 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 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 or impairment of goodwill and other 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 Six Months Ended (In thousands) 2017 2016 (1) 2017 2016 (1) Mortgage Insurance Net premiums written—insurance (2) $ 241,307 $ 232,353 $ 465,972 $ 258,663 (Increase) decrease in unearned premiums (12,211 ) (3,268 ) (15,076 ) 191,372 Net premiums earned—insurance 229,096 229,085 450,896 450,035 Net investment income 30,071 28,839 61,103 56,040 Other income 612 1,454 1,358 2,120 Total (3) 259,779 259,378 513,357 508,195 Provision for losses 17,714 50,074 64,946 93,349 Policy acquisition costs 6,123 5,393 12,852 11,782 Other operating expenses before corporate allocations 37,939 34,365 77,228 66,911 Total (4) 61,776 89,832 155,026 172,042 Adjusted pretax operating income before corporate allocations 198,003 169,546 358,331 336,153 Allocation of corporate operating expenses 15,894 14,286 30,080 23,615 Allocation of interest expense 11,748 18,124 23,257 35,236 Adjusted pretax operating income $ 170,361 $ 137,136 $ 304,994 $ 277,302 ______________________ (1) Reflects changes made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 gains on investments and other financial instruments of $5.3 million and $2.5 million , respectively, for the three and six months ended June 30, 2017 , and net gains on investments and other financial instruments of $30.5 million and $61.8 million , respectively, for the three and six months ended June 30, 2016 , not included in adjusted pretax operating income. (4) Includes inter-segment expenses as follows: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Inter-segment expenses $ 2,173 $ 1,947 $ 4,235 $ 3,546 Three Months Ended Six Months Ended (In thousands) 2017 2016 (1) 2017 2016 (1) Services Services revenue (2) $ 39,975 $ 42,210 $ 80,064 $ 76,658 Cost of services 25,962 27,730 54,652 51,584 Other operating expenses before corporate allocations 12,803 13,030 25,407 27,398 Total 38,765 40,760 80,059 78,982 Adjusted pretax operating income (loss) before corporate allocations 1,210 1,450 5 (2,324 ) Allocation of corporate operating expenses 3,404 2,779 7,122 4,530 Allocation of interest expense 4,431 4,422 8,860 8,844 Adjusted pretax operating income (loss) $ (6,625 ) $ (5,751 ) $ (15,977 ) $ (15,698 ) ______________________ (1) Reflects changes made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 Six Months Ended (In thousands) 2017 2016 2017 2016 Inter-segment revenues $ 2,173 $ 1,947 $ 4,235 $ 3,546 Selected balance sheet information for our segments, as of the periods indicated, is as follows: At June 30, 2017 (In thousands) Mortgage Insurance Services (1) Total Total assets $ 5,605,607 $ 211,499 $ 5,817,106 At December 31, 2016 (In thousands) Mortgage Insurance Services Total Total assets $ 5,506,338 $ 356,836 $ 5,863,174 ______________________ (1) The decrease in total assets for the Services segment at June 30, 2017, as compared to December 31, 2016, is primarily due to the impairment of goodwill and other intangible assets. See Note 6 for further details. The reconciliation of adjusted pretax operating income to consolidated pretax income (loss) is as follows: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Adjusted pretax operating income (loss): Mortgage Insurance (1) $ 170,361 $ 137,136 $ 304,994 $ 277,302 Services (1) (6,625 ) (5,751 ) (15,977 ) (15,698 ) Total adjusted pretax operating income 163,736 131,385 289,017 261,604 Net gains (losses) on investments and other financial instruments 5,331 30,527 2,480 61,813 Loss on induced conversion and debt extinguishment (1,247 ) (2,108 ) (5,703 ) (57,678 ) Acquisition-related expenses (2) (64 ) 54 (72 ) (151 ) Impairment of goodwill (184,374 ) — (184,374 ) — Amortization and impairment of other intangible assets (18,856 ) (3,311 ) (22,152 ) (6,639 ) Consolidated pretax income (loss) $ (35,474 ) $ 156,547 $ 79,196 $ 258,949 ______________________ (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 considered in isolation or viewed as a substitute for GAAP pretax income (loss). 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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. 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 June 30, 2017 : (In thousands) Level I Level II Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 205,049 $ 12,611 $ 217,660 State and municipal obligations — 377,437 377,437 Money market instruments 214,654 — 214,654 Corporate bonds and notes — 2,231,037 2,231,037 RMBS — 216,830 216,830 CMBS — 499,368 499,368 Other ABS — 601,718 601,718 Foreign government and agency securities — 36,346 36,346 Equity securities 175,948 860 176,808 Other investments (1) — 11,201 11,201 Total Investments at Fair Value (2) 595,651 3,987,408 4,583,059 Total Assets at Fair Value $ 595,651 $ 3,987,408 $ 4,583,059 ______________________ (1) Comprising short-term certificates of deposit and commercial paper. (2) Does not include certain other invested assets ( $0.8 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-public company 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 December 31, 2016 , total Level III assets of $1.0 million accounted for less than 0.1% of total assets measured at fair value. Included in equity securities is a Level III investment of $0.5 million in a privately-placed equity security, purchased during the three months ended June 30, 2015. Included in other debt securities is a Level III investment of $0.5 million in debt securities from a non-public company issuer, purchased during the three months ended June 30, 2016. There were no related gains or losses recorded during the year ended December 31, 2016 on these investments. However, during the three months ended June 30, 2017, we recorded other-than-temporary credit-related impairment losses in earnings of $1.0 million on these securities. As a result, there were no Level III assets remaining in our portfolio at June 30, 2017. See Note 5 for additional information. There were no Level III liabilities at June 30, 2017 or December 31, 2016 . There were no transfers between Level I and Level II for the three and six months ended June 30, 2017 and 2016 . There were also no transfers involving Level III assets or liabilities for the three and six months ended June 30, 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: June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Other invested assets $ 783 $ 3,482 $ 1,195 $ 3,789 Liabilities: Long-term debt 989,010 1,079,346 1,069,537 1,214,471

Note 5 - Investments

Note 5 - Investments	6 Months Ended
	Jun. 30, 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: June 30, 2017 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 58,706 $ 58,343 $ 201 $ 564 State and municipal obligations 111,858 115,454 3,936 340 Corporate bonds and notes 1,713,237 1,735,846 30,429 7,820 RMBS 184,603 182,716 921 2,808 CMBS 432,124 435,101 4,075 1,098 Other ABS 596,416 597,864 2,023 575 Foreign government and agency securities 31,457 32,019 589 27 Other investments 1,500 1,500 — — Total fixed-maturities available for sale 3,129,901 3,158,843 42,174 13,232 Equity securities available for sale (1) 176,930 176,808 316 438 Total debt and equity securities $ 3,306,831 $ 3,335,651 $ 42,490 $ 13,670 ______________________ (1) Primarily consists of investments in fixed income and equity exchange-traded funds and publicly-traded business development company equities. 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 FHLB. 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: June 30, 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 7 $ 36,682 $ 564 — $ — $ — 7 $ 36,682 $ 564 State and municipal obligations 10 47,282 340 — — — 10 47,282 340 Corporate bonds and notes 132 530,077 7,718 1 3,736 102 133 533,813 7,820 RMBS 32 128,589 2,733 3 6,529 75 35 135,118 2,808 CMBS 31 113,103 1,095 1 1,038 3 32 114,141 1,098 Other ABS 83 205,378 575 — — — 83 205,378 575 Foreign government and agency securities 5 5,419 27 — — — 5 5,419 27 Equity Securities 11 73,441 438 — — — 11 73,441 438 Total 311 $ 1,139,971 $ 13,490 5 $ 11,303 $ 180 316 $ 1,151,274 $ 13,670 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 Impairments due to credit deterioration that result in a conclusion that the present value of cash flows expected to be collected will not be sufficient to recover the amortized cost basis of the security are considered other-than-temporary. Other declines in fair value (for example, due to interest rate changes, sector credit rating changes or company-specific rating changes) that result in a conclusion that the present value of cash flows expected to be collected will not be sufficient to recover the amortized cost basis of the security also may serve as a basis to conclude that an other-than-temporary impairment has occurred. To the extent we determine that a security is deemed to have had an other-than-temporary impairment, an impairment loss is recognized. During the three months ended June 30, 2017 , we recorded other-than-temporary impairment losses in earnings of $1.0 million , including $0.5 million related to a convertible note of a non-public company issuer included in debt securities and $0.5 million related to a privately-placed equity security. We concluded that we would not recover the amortized cost basis of these securities due to credit deterioration. There were no credit-related impairment losses recognized in earnings or in AOCI during the year ended December 31, 2016. Although we held securities in an unrealized loss position as of June 30, 2017 , we did not consider those securities 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 June 30, 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 June 30, 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 June 30, 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) June 30, December 31, Trading securities: U.S. government and agency securities $ 28,336 $ 33,042 State and municipal obligations 216,838 259,573 Corporate bonds and notes 360,906 453,617 RMBS 34,114 38,214 CMBS 64,267 78,984 Other ABS — 8,219 Foreign government and agency securities 4,327 8,213 Total $ 708,788 $ 879,862 For trading securities held at June 30, 2017 and December 31, 2016 , we had net unrealized gains associated with those securities of $8.0 million and $16.8 million during the six months ended June 30, 2017 and the year ended December 31, 2016 , respectively. For the six months ended June 30, 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 Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Net realized gains (losses): Fixed-maturities available for sale $ (1,180 ) $ 1,166 $ (3,689 ) $ (1,982 ) Equity securities available for sale 385 — 385 (170 ) Trading securities (349 ) 421 (6,043 ) (1,819 ) Short-term investments (38 ) — (32 ) (39 ) Other gains (losses) — — 18 18 Net realized gains (losses) on investments (1,182 ) 1,587 (9,361 ) (3,992 ) Other-than-temporary impairment losses (1,000 ) — (1,000 ) — Unrealized gains (losses) on trading securities 6,938 27,678 12,164 62,909 Total net gains (losses) on investments 4,756 29,265 1,803 58,917 Net gains (losses) on other financial instruments 575 1,262 677 2,896 Net gains (losses) on investments and other financial instruments $ 5,331 $ 30,527 $ 2,480 $ 61,813 Contractual Maturities The contractual maturities of fixed-maturity investments were as follows: June 30, 2017 Available for Sale (In thousands) Amortized Cost Fair Value Due in one year or less (1) $ 59,342 $ 59,351 Due after one year through five years (1) 656,233 661,676 Due after five years through 10 years (1) 874,709 880,162 Due after 10 years (1) 326,474 341,973 RMBS (2) 184,603 182,716 CMBS (2) 432,124 435,101 Other ABS (2) 596,416 597,864 Total $ 3,129,901 $ 3,158,843 ______________________ (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 June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 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 — (184,374 ) (184,374 ) Balance at June 30, 2017 $ 197,391 $ (186,469 ) $ 10,922 Accounting Policy Considerations Goodwill is an asset representing the estimated future economic benefits arising from the assets we have acquired that are not individually identified and separately recognized, and includes the value of the discounted expected future cash flows from these businesses, 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 events and circumstances indicate potential impairment. For purposes of performing our goodwill impairment test, we have concluded that the Services segment constitutes one reporting unit to which all of our recorded goodwill is related. Events and circumstances 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 of the Services segment 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 the book value attributable to the Services segment. The value of goodwill is supported by cash flow 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. Given that our goodwill impairment analysis continues to rely significantly on achieving our projected future cash flows, failure to meet those projections may result in additional impairment in a future period. We generally perform our annual goodwill impairment test during the fourth quarter of each year, using balances as of the prior quarter. However, if there are events and circumstances that indicate that it is more likely than not that the fair value of a reporting unit is less than the carrying amount, we will perform a quantitative analysis on an interim basis. As part of our quantitative goodwill impairment assessment, we estimate the fair value of the reporting unit using primarily an income approach and, based on a lower weighting, a market approach. The key driver in our fair value analysis is forecasted future cash flows. For our June 30, 2017 goodwill impairment analysis, we early adopted the update to the accounting standard regarding goodwill and other intangibles, as discussed in Note 1 “—Significant Accounting Policies— Recent Accounting Pronouncements — Accounting Standards Adopted During 2017 .” In accordance with the updated standard, the fair value of a reporting unit is compared with its carrying amount, with any excess of the reporting unit’s carrying amount over its estimated fair value recognized as an impairment charge, up to the full amount of the goodwill allocated to the reporting unit, after adjusting the carrying value for any impairment of other intangibles or long-lived assets. For additional information on our accounting policies for goodwill and other intangible assets, see Note 1 herein and Note 1 of Notes to Consolidated Financial Statements in our 2016 Form 10-K. Impairment Analysis We performed an interim goodwill impairment test as of June 30, 2017, due to events and circumstances identified during our June 30, 2017 qualitative analysis that indicated that it was more likely than not that the fair value was less than the carrying amount. We performed our qualitative assessment of goodwill at June 30, 2017, focusing on the impact of certain key factors affecting our Services segment, including: (i) decisions related to changes in the business strategy for our Services segment determined in the second quarter of 2017, following our newly appointed Chief Executive Officer’s evaluation of both existing products and new product development opportunities and (ii) second quarter 2017 results for our Services segment which were negatively impacted by market trends. Our expectation that these market trends will persist negatively impacted our projected future cash flows compared to the projections used in our prior valuation. After joining Radian in March 2017, our newly appointed Chief Executive Officer initiated a review in conjunction with Services segment management to evaluate the strategic direction of the Services segment, and to date we have made a series of decisions to reposition the Services business by: (i) discontinuing certain business initiatives, as discussed below and (ii) shifting the strategy of the Services segment to focus on core products and services that, in the current market environment, are expected to have higher growth potential, to produce more predictable, recurring revenue streams over time and to better align with our market expertise and the needs of our customers. Our recent strategic decisions include an intent to scale back or, in certain cases, discontinue certain new or existing business initiatives, such as discontinuing a new product line which, based on a market study received in the second quarter of 2017, would require significant additional investment to achieve the growth rates that had been expected. The impact of the strategic decisions determined during the second quarter constituted a meaningful reduction in the fair value of the Services segment since the previous annual impairment test. During the second quarter of 2017, the Services segment performed below forecasted levels. In combination with the current performance of the Services segment, the anticipated business and growth opportunities for certain business lines in our Services segment have been impacted by: (i) market demand, which was lower than anticipated; (ii) increased competition, including with respect to product alternatives and pricing; and (iii) delays in the realization of efficiencies and margin improvements associated with certain technology initiatives. The demand for certain products and services has decreased due to several factors. Given the decreased volume of refinancings in the mortgage market that began in the first half of 2017, our customers have excess internal capacity which they are choosing to utilize and as a result they are less reliant on outsourcing to us. Additionally, due to market and competitive pressures, we renewed the contract terms with one of our largest customers during the second quarter of 2017, with lower pricing and volumes than expected in order to retain the engagement. We have also experienced lower than expected customer acceptance for certain of our current and proposed products and services. The impact of these factors, partially offset by related future expense reductions, constituted a majority of the decline in the fair value of the Services segment since the previous annual impairment test. Our quantitative valuation analysis, performed in connection with our annual goodwill impairment analysis in 2016, relied heavily on achieving the growth rates in our projected future cash flows. The impact of the market trends observed during the second quarter of 2017, which we currently expect to continue, together with our strategic decisions to date, resulted in changes to our expected product mix and the expected growth rates associated with various initiatives, which in turn generated material reductions to our forecasted net cash flows. Given the significant negative impact that the market trends and our strategic decisions would have on the timing and amount of our projected future cash flows in comparison to our original projections, we performed a quantitative analysis of the associated goodwill and other intangible assets as of June 30, 2017. As a result of the quantitative goodwill analysis, we recorded an impairment charge of $184.4 million for the three months ended June 30, 2017, to reduce the carrying amount of the Services segment to its estimated fair value. As discussed further below, prior to finalizing this amount, we also evaluated the recoverability of the segment’s other intangible assets and recorded impairment charges of $15.8 million related to the Services segment’s other intangible assets. See “Other Intangible Assets,” below. Substantially all of our impairment charges for goodwill and other intangible assets will continue to be deductible for tax purposes, over the original amortization period of approximately 15 years . Other Intangible Assets As of June 30, 2017, we also evaluated the recoverability of our other intangible assets. Factors affecting the estimated fair value of our goodwill, as described above, also affected the estimated recoverability of our other intangible assets. Based on our analysis in the second quarter of 2017, impairment was indicated for the Services segment’s client relationships and technology, related to certain product lines that were affected by the factors above. There was no impairment indicated for the remaining intangible assets, as the remaining carrying amounts were estimated to be recoverable despite the decline in projected earnings. Client relationships represent the value of the specifically acquired customer relationships and are valued using the excess earnings approach using estimated client revenues, attrition rates, implied royalty rates and discount rates. The excess earnings approach estimates the present value of expected earnings in excess of a traditional return on business assets. For the three months ended June 30, 2017, we recorded an impairment charge of $14.9 million related to the segment’s client relationships, primarily due to the changes in estimated client revenues based on the factors discussed above in “—Impairment Analysis.” The remaining carrying value of client relationships is supported by projected earnings. For the three months ended June 30, 2017, we also recorded an impairment charge of $0.9 million related to technology, representing the estimated unrecoverable value of a portion of the acquired proprietary software used to provide services in a product line impacted by the factors described above in “—Impairment Analysis.” The remaining carrying value of technology is supported by technology that we expect to continue to use in its current form, in either the same or an alternative capacity. 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: June 30, 2017 (In thousands) Original Amount Acquired Accumulated Amortization and Impairment Net Carrying Amount Client relationships (1) $ 83,358 $ (38,816 ) $ 44,542 Technology (2) 15,250 (7,712 ) 7,538 Trade name and trademarks 8,340 (2,566 ) 5,774 Client backlog 6,680 (5,620 ) 1,060 Non-competition agreements 185 (164 ) 21 Total $ 113,813 $ (54,878 ) $ 58,935 ______________________ (1) Includes an impairment charge of $14.9 million . (2) Includes an impairment charge of $0.9 million . December 31, 2016 (In thousands) Original Amount Acquired 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 $ 5,529 2018 10,346 2019 8,820 2020 7,442 2021 5,859 2022 5,081 Thereafter 15,858 Total $ 58,935 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	6 Months Ended
	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The effect of reinsurance on net premiums written and earned is as follows: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Net premiums written—insurance: Direct $ 260,647 $ 252,728 $ 500,292 $ 486,654 Ceded (1) (19,340 ) (20,375 ) (34,320 ) (227,991 ) Net premiums written—insurance $ 241,307 $ 232,353 $ 465,972 $ 258,663 Net premiums earned—insurance: Direct $ 243,229 $ 248,938 $ 479,291 $ 489,268 Assumed 7 9 14 18 Ceded (1) (14,140 ) (19,862 ) (28,409 ) (39,251 ) Net premiums earned—insurance $ 229,096 $ 229,085 $ 450,896 $ 450,035 ______________________ (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 $1.4 billion and $1.9 billion as of June 30, 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 $4.1 billion and $3.5 billion as of June 30, 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 Six Months Ended (In thousands) 2017 2016 2017 2016 Ceded premiums written (1) $ 5,059 $ 7,356 $ 10,516 $ 15,318 Ceded premiums earned (1) 7,404 11,172 15,238 22,497 Ceding commissions written 1,446 2,099 3,005 4,369 Ceding commissions earned (2) 3,379 3,779 7,273 8,225 Ceded losses, net (310 ) 223 260 764 Single Premium QSR Transaction Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Ceded premiums written (1) $ 13,856 $ 11,488 $ 22,816 $ 209,081 (3) Ceded premiums earned (1) 6,311 7,146 12,170 13,140 Ceding commissions written 5,134 4,844 8,846 55,776 Ceding commissions earned (2) 3,248 3,759 6,185 6,791 Ceded losses 464 380 1,037 916 ______________________ (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

Note 8 - Other Assets	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets	Other Assets The following table shows the components of other assets as of the dates indicated: (In thousands) June 30, December 31, Deposit with the IRS (Note 9) $ 88,557 $ 88,557 Corporate-owned life insurance 84,981 83,248 Property and equipment (1) (2) 87,541 70,665 Accrued investment income 29,348 29,255 Deferred policy acquisition costs 14,350 14,127 Reinsurance recoverables 7,523 7,368 Other 65,055 50,615 Total other assets $ 377,355 $ 343,835 ______________________ (1) Property and equipment at cost, less accumulated depreciation of $126.8 million and $118.5 million at June 30, 2017 and December 31, 2016 , respectively. Depreciation expense was $4.1 million and $2.4 million for the three-month periods ended June 30, 2017 and 2016 , respectively, and $8.3 million and $4.7 million for the six-month periods ended June 30, 2017 and 2016 , respectively. (2) Includes $47.0 million and $49.7 million at June 30, 2017 and December 31, 2016 , respectively, related to our technology upgrade project and $15.6 million at June 30, 2017 of leasehold improvements related to our new corporate headquarters.

Note 9 - Income Taxes

Note 9 - Income Taxes	6 Months Ended
	Jun. 30, 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 or deficiencies 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; (v) the impairments of goodwill and other intangible assets in 2017; and (vi) certain other adjustments. For federal income tax purposes, as of June 30, 2017 , we had approximately $395.1 million of NOL carryforwards. To the extent not utilized, the NOL carryforwards will expire during tax years 2031 and 2032. We also have research and development tax credit carryforwards of $5.6 million that, if not utilized, will expire during tax years 2031 through 2036. Additionally, we had $30.1 million of alternative minimum tax credit carryforwards as of June 30, 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 June 30, 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 June 30, 2017 , our valuation allowance is $48.8 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 June 30, 2017 , there also would be interest of approximately $143 million related to these matters. Depending on the outcome, additional state income taxes, penalties and interest (estimated in the aggregate to be approximately $36 million as of June 30, 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	6 Months Ended
	Jun. 30, 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) June 30, December 31, Reserves for losses by category: Prime $ 318,169 $ 379,845 Alt-A 124,477 148,006 A minus and below 85,283 101,653 IBNR and other (1) 69,620 71,107 LAE 15,492 18,630 Reinsurance recoverable (2) 7,341 6,816 Total primary reserves 620,382 726,057 Pool 29,099 31,853 IBNR and other 658 673 LAE 843 932 Reinsurance recoverable (2) 30 35 Total pool reserves 30,630 33,493 Total First-lien reserves 651,012 759,550 Other (3) 579 719 Total reserve for losses $ 651,591 $ 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: Six 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) 88,906 100,999 Prior years (24,721 ) (8,438 ) Total incurred 64,185 92,561 Deduct: Paid claims and LAE related to: Current year (2) 1,027 632 Prior years 172,356 217,740 Total paid 173,383 218,372 Balance at end of period, net of reinsurance recoverables 644,220 842,302 Add: Reinsurance recoverables (1) 7,371 6,077 Balance at end of period $ 651,591 $ 848,379 ______________________ (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 2017 Activity Our loss reserves at June 30, 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 six months ended June 30, 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 11.0% as of June 30, 2017 . The provision for losses during the first six 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 resulted from observed trends, primarily 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 six months ended June 30, 2017 , compared to the same period in 2016, consistent with the ongoing decline in the outstanding default inventory. 2016 Activity Our loss reserves at June 30, 2016 declined as compared to December 31, 2015 , primarily as a result of the volume of paid claims and Cures exceeding new default notices received. Reserves established for new default notices were the primary driver of our total incurred loss for the six months ended June 30, 2016 , 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 12.5% . The impact to incurred losses from default notices reported in the first half of 2016 was partially mitigated by favorable reserve development on prior year defaults, driven primarily by a reduction during the first quarter in certain Default to Claim Rate assumptions for these prior year defaults. The reductions in Default to Claim Rate assumptions resulted primarily from observed trends, including higher Cures than were previously estimated. The impact of the positive development in prior year defaults was partially offset by a slight increase in estimated severity rates from those used at December 31, 2015 , based on observed trends. 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 43% ( 41% excluding pending claims) at June 30, 2017 , and 42% ( 40% excluding pending claims) at December 31, 2016 . This increase was primarily due to a shift in the mix of defaults during the six months ended June 30, 2017, with a slightly higher proportion of pending claims in our total inventory as well as a slightly lower rate of Rescissions and Claim Denials, both as of June 30, 2017 compared to December 31, 2016. This increase was partially offset by the decrease in our gross Default to Claim Rate assumptions for new primary defaults. During the six months ended June 30, 2017 , our gross Default to Claim Rate assumption for new primary defaults was reduced from 12% as of December 31, 2016 , to 11% . As of June 30, 2017 , our gross Default to Claim Rates on our primary portfolio ranged from 11% 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 June 30, 2017 and December 31, 2016 by approximately $25 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 $12.8 million and $14.3 million at June 30, 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 June 30, 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. 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 $61 million as of the final settlement date on August 29, 2017, then any shortfall will be paid to Freddie Mac from the funds remaining in the collateral account, subject to certain adjustments. As of June 30, 2017 , we have $57.4 million recorded in reserve for losses that we expect to pay to Freddie Mac from the funds that are 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	6 Months Ended
	Jun. 30, 2017
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-Term Debt The carrying value of our long-term debt at June 30, 2017 and December 31, 2016 was as follows: (In thousands) June 30, December 31, 5.500% Senior Notes due 2019 $ 297,510 $ 296,907 5.250% Senior Notes due 2020 345,932 345,308 7.000% Senior Notes due 2021 344,943 344,362 3.000% Convertible Senior Notes due 2017 625 20,947 2.250% Convertible Senior Notes due 2019 — 62,013 Total long-term debt $ 989,010 $ 1,069,537 Extinguishment of Debt Repurchases of Convertible Senior Notes due 2017 During the second quarter of 2017, we entered into privately negotiated agreements to purchase a portion of our outstanding Convertible Senior Notes due 2017 in an aggregate principal amount of $21.6 million . We funded the purchases with $31.6 million in cash (plus accrued and unpaid interest due on the purchased notes). These purchases of Convertible Senior Notes due 2017 resulted in a loss on induced conversion and debt extinguishment of $1.2 million . Following these purchases, $0.6 million of the principal amount of the Convertible Senior Notes due 2017 remained outstanding as of June 30, 2017. In connection with our privately negotiated purchases of Convertible Senior Notes due 2017, we terminated a corresponding portion of the capped call transactions we entered into in 2010 related to the initial issuance of the Convertible Senior Notes due 2017. We received proceeds of $4.1 million for this termination. 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 with respect to these conversions 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. The pretax equity component associated with our Convertible Senior Notes due 2017 decreased from $5.0 million at December 31, 2016 to $0.1 million at June 30, 2017, as a result of our purchases of the associated notes during the second quarter of 2017. In addition, as a result of settling our obligations on the remaining Convertible Senior Notes due 2019 during the first three months of 2017, the associated pretax equity component of $13.1 million at December 31, 2016 was eliminated. During the three-month period ended June 30, 2017 , Radian Group’s closing stock prices exceeded the conversion threshold requirements for the holders of our Convertible Senior Notes due 2017 to be able to exercise their conversion rights during the three-month period ending September 30, 2017 . Additionally, beginning on August 15, 2017 until the close of business on November 13, 2017 (the second scheduled trading day immediately preceding the maturity date), holders may submit their notes for conversion regardless of the stock price or other conversion thresholds. 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. 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) June 30, December 31, June 30, December 31, Liability component: Principal $ 642 $ 22,233 $ — $ 68,024 Debt discount, net (1) (16 ) (1,221 ) — (5,461 ) Debt issuance costs (1) (1 ) (65 ) — (550 ) Net carrying amount $ 625 $ 20,947 $ — $ 62,013 Equity component of currently redeemable convertible senior notes $ 16 $ — $ — $ — ______________________ (1) Included within long-term debt and is being amortized over the life of the convertible notes. The following tables set forth total interest expense recognized related to the convertible notes for the periods indicated: Convertible Senior Notes due 2017 Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ 141 $ 167 $ 308 $ 539 Amortization of debt issuance costs 14 17 32 54 Amortization of debt discount 267 314 605 1,022 Total interest expense (benefit) (1) $ 422 $ 498 $ 945 $ 1,615 ______________________ (1) Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded. Convertible Senior Notes due 2019 Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ — $ 537 $ (510 ) $ 2,550 Amortization of debt issuance costs — 80 16 373 Amortization of debt discount — 788 163 3,697 Total interest expense (benefit) (1) $ — $ 1,405 $ (331 ) $ 6,620 ______________________ (1) Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 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 alleged breach of contract and bad faith claims and sought 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 (“AAA”) that asserted substantially the same allegations as contained in the Complaint (the Complaint and the Petition are collectively referred to as the “Filings”). The Filings listed 9,420 mortgage insurance certificates (“Certificates”) issued under multiple insurance policies, including Pool Insurance policies, as being the subject of these proceedings. 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 amend its Complaint. On June 5, 2017, Ocwen filed an Amended Complaint and an Amended Petition (collectively, the “Amended Filings”) with the Court and the AAA, respectively. The Amended Filings together list 8,870 Certificates as being the subject of these proceedings. On June 30, 2017, Radian Guaranty filed with the Court renewed motions to dismiss Ocwen’s Amended Complaint and to enjoin Ocwen’s parallel arbitration. On July 20, 2017, the Court denied Radian Guaranty’s motion to dismiss Ocwen’s Amended Complaint, and on July 27, 2017, the Court denied Radian Guaranty’s motion to enjoin Ocwen’s parallel arbitration. Radian Guaranty believes that the claims in the Amended Filings are without merit and legally deficient and plans to defend these claims vigorously. 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 that Green River Capital provided on properties included in SFR 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 $104.2 million of remaining credit exposure as of June 30, 2017 .

Note 13 - Capital Stock (Notes)

Note 13 - Capital Stock (Notes)	6 Months Ended
	Jun. 30, 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. During the second quarter of 2017, 380 shares were purchased at an average price of $15.59 per share, which represented the only purchases made under the plan. This share repurchase program expired 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	6 Months Ended
	Jun. 30, 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 June 30, 2017 Six Months Ended June 30, 2017 (In thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Balance at beginning of period $ (5,168 ) $ (1,805 ) $ (3,363 ) $ (19,063 ) $ (6,668 ) $ (12,395 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 31,137 10,898 20,239 42,471 14,865 27,606 Less: Reclassification adjustment for net gains (losses) included in net income (loss) (1) (1,795 ) (628 ) (1,167 ) (4,304 ) (1,506 ) (2,798 ) Net unrealized gains (losses) on investments 32,932 11,526 21,406 46,775 16,371 30,404 Net foreign currency translation adjustments 114 40 74 166 58 108 OCI 33,046 11,566 21,480 46,941 16,429 30,512 Balance at end of period $ 27,878 $ 9,761 $ 18,117 $ 27,878 $ 9,761 $ 18,117 Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 (In thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Balance at beginning of period $ 35,064 $ 12,273 $ 22,791 $ (28,425 ) $ (9,948 ) $ (18,477 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 61,996 21,699 40,297 122,571 42,900 79,671 Less: Reclassification adjustment for net gains (losses) included in net income (loss) (1) 1,166 408 758 (2,152 ) (753 ) (1,399 ) Net unrealized gains (losses) on investments 60,830 21,291 39,539 124,723 43,653 81,070 Net foreign currency translation adjustments (346 ) (121 ) (225 ) (476 ) (166 ) (310 ) Net actuarial loss — — — (274 ) (96 ) (178 ) OCI 60,484 21,170 39,314 123,973 43,391 80,582 Balance at end of period $ 95,548 $ 33,443 $ 62,105 $ 95,548 $ 33,443 $ 62,105 ______________________ (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	6 Months Ended
	Jun. 30, 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 June 30, 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. 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 June 30, 2017 , the amount of restricted net assets held by our consolidated insurance subsidiaries (which represents our equity investment in those insurance subsidiaries) totaled $3.3 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 most common Statutory RBC Requirement imposed by the 16 RBC States 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 a minimum policyholder position, which is calculated based on both risk and surplus levels (“MPP Requirement”). 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 or MPP Requirement of that state, the mortgage insurer may be prohibited from writing new mortgage insurance business in that state. Radian Guaranty’s state of domicile, Pennsylvania, is not one of the RBC States. 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. Radian Guaranty was in compliance with the Statutory RBC Requirements or MPP Requirements, as applicable, in each of the RBC States as of June 30, 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 June 30, 2017 , the statutory policyholders’ surplus of Radian Reinsurance was $324.4 million , compared to $147.6 million at December 31, 2016 . The reallocation of capital had no impact on Radian Guaranty’s Available Assets under the PMIERs, because Radian Reinsurance is currently an exclusive affiliated reinsurer of Radian Guaranty and, as such, its assets currently are included in Radian Guaranty’s Available Assets under the PMIERs. Radian Guaranty’s Risk-to-capital calculation appears in the table below. For purposes of the Risk-to-capital calculation, as well as the Risk-to-capital requirements imposed by certain states, statutory capital is defined as the sum of statutory policyholders’ surplus plus statutory contingency reserves. June 30, December 31, ($ in millions) RIF, net (1) $ 37,374.1 $ 35,357.8 Common stock and paid-in capital $ 1,866.1 $ 2,041.0 Unassigned earnings (deficit) (710.0 ) (691.3 ) Statutory policyholders’ surplus 1,156.1 1,349.7 Contingency reserve 1,460.9 1,260.6 Statutory capital $ 2,617.0 $ 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 six months of 2017 was primarily due to an increase in RIF without a change in overall statutory capital for the six-month period. Statutory capital remained flat primarily due to the reallocation of $175 million of capital from Radian Guaranty to Radian Reinsurance, as described above, combined with a $30.6 million net decrease in Radian Guaranty’s net admitted deferred tax assets and a $15.2 million increase in non-admitted assets related to leasehold improvements that are primarily associated with our new corporate headquarters, which had the effect of decreasing statutory policyholders’ surplus. Offsetting these decreases was Radian Guaranty’s statutory net income of $229.8 million for the first six months of 2017. The Risk-to-capital ratio for our combined mortgage insurance operations was 13.4 to 1 as of June 30, 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)	6 Months Ended
	Jun. 30, 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. 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, after adjusting the carrying value for any impairment of other intangibles or long-lived assets. 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 elected to early adopt this update to perform the quantitative analysis for our goodwill impairment test as of June 30, 2017. See “— Other Significant Accounting Policies ,” above, and Note 6 for additional information.
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 either the full retrospective or the modified retrospective transition method. We currently anticipate using the modified retrospective method of adoption, with the cumulative effect of initially applying the guidance recognized at the date of adoption. We are currently in the process of reviewing current accounting policies and key contracts that are representative of our various products and services within the Services segment. 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 (loss); (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. 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 for 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 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 reclassification 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. The amounts reclassified did not have a material impact on adjusted pretax operating income. 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]	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 or deficiencies 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; (v) the impairments of goodwill and other intangible assets in 2017; and (vi) certain other adjustments. 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.

Note 2 - Net Income Per Share (

Note 2 - Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The calculation of basic and diluted net income (loss) per share was as follows: Three Months Ended Six Months Ended (In thousands, except per-share amounts) 2017 2016 2017 2016 Net income (loss)—basic $ (27,342 ) $ 98,112 $ 49,130 $ 164,361 Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1) — 913 (215 ) 4,303 Net income (loss)—diluted $ (27,342 ) $ 99,025 $ 48,915 $ 168,664 Average common shares outstanding—basic 215,152 214,274 215,054 208,991 Dilutive effect of Convertible Senior Notes due 2017 (2) — 12 602 — Dilutive effect of Convertible Senior Notes due 2019 — 8,928 922 21,256 Dilutive effect of share-based compensation arrangements (2) — 2,989 3,896 2,698 Adjusted average common shares outstanding—diluted 215,152 226,203 220,474 232,945 Net income (loss) per share: Basic $ (0.13 ) $ 0.46 $ 0.23 $ 0.79 Diluted $ (0.13 ) $ 0.44 $ 0.22 $ 0.73 ______________________ (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. Included in the six months ended June 30, 2017 is a benefit related to our adjustment of estimated accrued expense to actual amounts, resulting from the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019. (2) There were no dilutive shares for the three months ended June 30, 2017, as a result of our net loss for the period. The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and our convertible debt were not included in the calculation of diluted net income (loss) per share because they were anti-dilutive: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Shares of common stock equivalents 5,975 1,042 442 1,042 Shares of Convertible Senior Notes due 2017 509 — — 1,902

Note 3 - Segment Reporting (Tab

Note 3 - Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended (In thousands) 2017 2016 (1) 2017 2016 (1) Mortgage Insurance Net premiums written—insurance (2) $ 241,307 $ 232,353 $ 465,972 $ 258,663 (Increase) decrease in unearned premiums (12,211 ) (3,268 ) (15,076 ) 191,372 Net premiums earned—insurance 229,096 229,085 450,896 450,035 Net investment income 30,071 28,839 61,103 56,040 Other income 612 1,454 1,358 2,120 Total (3) 259,779 259,378 513,357 508,195 Provision for losses 17,714 50,074 64,946 93,349 Policy acquisition costs 6,123 5,393 12,852 11,782 Other operating expenses before corporate allocations 37,939 34,365 77,228 66,911 Total (4) 61,776 89,832 155,026 172,042 Adjusted pretax operating income before corporate allocations 198,003 169,546 358,331 336,153 Allocation of corporate operating expenses 15,894 14,286 30,080 23,615 Allocation of interest expense 11,748 18,124 23,257 35,236 Adjusted pretax operating income $ 170,361 $ 137,136 $ 304,994 $ 277,302 ______________________ (1) Reflects changes made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 gains on investments and other financial instruments of $5.3 million and $2.5 million , respectively, for the three and six months ended June 30, 2017 , and net gains on investments and other financial instruments of $30.5 million and $61.8 million , respectively, for the three and six months ended June 30, 2016 , not included in adjusted pretax operating income. (4) Includes inter-segment expenses as follows: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Inter-segment expenses $ 2,173 $ 1,947 $ 4,235 $ 3,546 Three Months Ended Six Months Ended (In thousands) 2017 2016 (1) 2017 2016 (1) Services Services revenue (2) $ 39,975 $ 42,210 $ 80,064 $ 76,658 Cost of services 25,962 27,730 54,652 51,584 Other operating expenses before corporate allocations 12,803 13,030 25,407 27,398 Total 38,765 40,760 80,059 78,982 Adjusted pretax operating income (loss) before corporate allocations 1,210 1,450 5 (2,324 ) Allocation of corporate operating expenses 3,404 2,779 7,122 4,530 Allocation of interest expense 4,431 4,422 8,860 8,844 Adjusted pretax operating income (loss) $ (6,625 ) $ (5,751 ) $ (15,977 ) $ (15,698 ) ______________________ (1) Reflects changes made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 Six Months Ended (In thousands) 2017 2016 2017 2016 Inter-segment revenues $ 2,173 $ 1,947 $ 4,235 $ 3,546 Selected balance sheet information for our segments, as of the periods indicated, is as follows: At June 30, 2017 (In thousands) Mortgage Insurance Services (1) Total Total assets $ 5,605,607 $ 211,499 $ 5,817,106 At December 31, 2016 (In thousands) Mortgage Insurance Services Total Total assets $ 5,506,338 $ 356,836 $ 5,863,174 ______________________ (1) The decrease in total assets for the Services segment at June 30, 2017, as compared to December 31, 2016, is primarily due to the impairment of goodwill and other intangible assets. See Note 6 for further details.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	The reconciliation of adjusted pretax operating income to consolidated pretax income (loss) is as follows: Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Adjusted pretax operating income (loss): Mortgage Insurance (1) $ 170,361 $ 137,136 $ 304,994 $ 277,302 Services (1) (6,625 ) (5,751 ) (15,977 ) (15,698 ) Total adjusted pretax operating income 163,736 131,385 289,017 261,604 Net gains (losses) on investments and other financial instruments 5,331 30,527 2,480 61,813 Loss on induced conversion and debt extinguishment (1,247 ) (2,108 ) (5,703 ) (57,678 ) Acquisition-related expenses (2) (64 ) 54 (72 ) (151 ) Impairment of goodwill (184,374 ) — (184,374 ) — Amortization and impairment of other intangible assets (18,856 ) (3,311 ) (22,152 ) (6,639 ) Consolidated pretax income (loss) $ (35,474 ) $ 156,547 $ 79,196 $ 258,949 ______________________ (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)	6 Months Ended
	Jun. 30, 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 June 30, 2017 : (In thousands) Level I Level II Total Assets at Fair Value Investment Portfolio: U.S. government and agency securities $ 205,049 $ 12,611 $ 217,660 State and municipal obligations — 377,437 377,437 Money market instruments 214,654 — 214,654 Corporate bonds and notes — 2,231,037 2,231,037 RMBS — 216,830 216,830 CMBS — 499,368 499,368 Other ABS — 601,718 601,718 Foreign government and agency securities — 36,346 36,346 Equity securities 175,948 860 176,808 Other investments (1) — 11,201 11,201 Total Investments at Fair Value (2) 595,651 3,987,408 4,583,059 Total Assets at Fair Value $ 595,651 $ 3,987,408 $ 4,583,059 ______________________ (1) Comprising short-term certificates of deposit and commercial paper. (2) Does not include certain other invested assets ( $0.8 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-public company 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: June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Other invested assets $ 783 $ 3,482 $ 1,195 $ 3,789 Liabilities: Long-term debt 989,010 1,079,346 1,069,537 1,214,471

Note 5 - Investments (Tables)

Note 5 - Investments (Tables)	6 Months Ended
	Jun. 30, 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: June 30, 2017 (In thousands) Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fixed-maturities available for sale: U.S. government and agency securities $ 58,706 $ 58,343 $ 201 $ 564 State and municipal obligations 111,858 115,454 3,936 340 Corporate bonds and notes 1,713,237 1,735,846 30,429 7,820 RMBS 184,603 182,716 921 2,808 CMBS 432,124 435,101 4,075 1,098 Other ABS 596,416 597,864 2,023 575 Foreign government and agency securities 31,457 32,019 589 27 Other investments 1,500 1,500 — — Total fixed-maturities available for sale 3,129,901 3,158,843 42,174 13,232 Equity securities available for sale (1) 176,930 176,808 316 438 Total debt and equity securities $ 3,306,831 $ 3,335,651 $ 42,490 $ 13,670 ______________________ (1) Primarily consists of investments in fixed income and equity exchange-traded funds and publicly-traded business development company equities. 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 FHLB.
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: June 30, 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 7 $ 36,682 $ 564 — $ — $ — 7 $ 36,682 $ 564 State and municipal obligations 10 47,282 340 — — — 10 47,282 340 Corporate bonds and notes 132 530,077 7,718 1 3,736 102 133 533,813 7,820 RMBS 32 128,589 2,733 3 6,529 75 35 135,118 2,808 CMBS 31 113,103 1,095 1 1,038 3 32 114,141 1,098 Other ABS 83 205,378 575 — — — 83 205,378 575 Foreign government and agency securities 5 5,419 27 — — — 5 5,419 27 Equity Securities 11 73,441 438 — — — 11 73,441 438 Total 311 $ 1,139,971 $ 13,490 5 $ 11,303 $ 180 316 $ 1,151,274 $ 13,670 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) June 30, December 31, Trading securities: U.S. government and agency securities $ 28,336 $ 33,042 State and municipal obligations 216,838 259,573 Corporate bonds and notes 360,906 453,617 RMBS 34,114 38,214 CMBS 64,267 78,984 Other ABS — 8,219 Foreign government and agency securities 4,327 8,213 Total $ 708,788 $ 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 Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Net realized gains (losses): Fixed-maturities available for sale $ (1,180 ) $ 1,166 $ (3,689 ) $ (1,982 ) Equity securities available for sale 385 — 385 (170 ) Trading securities (349 ) 421 (6,043 ) (1,819 ) Short-term investments (38 ) — (32 ) (39 ) Other gains (losses) — — 18 18 Net realized gains (losses) on investments (1,182 ) 1,587 (9,361 ) (3,992 ) Other-than-temporary impairment losses (1,000 ) — (1,000 ) — Unrealized gains (losses) on trading securities 6,938 27,678 12,164 62,909 Total net gains (losses) on investments 4,756 29,265 1,803 58,917 Net gains (losses) on other financial instruments 575 1,262 677 2,896 Net gains (losses) on investments and other financial instruments $ 5,331 $ 30,527 $ 2,480 $ 61,813
Investments Classified by Contractual Maturity Date [Table Text Block]	The contractual maturities of fixed-maturity investments were as follows: June 30, 2017 Available for Sale (In thousands) Amortized Cost Fair Value Due in one year or less (1) $ 59,342 $ 59,351 Due after one year through five years (1) 656,233 661,676 Due after five years through 10 years (1) 874,709 880,162 Due after 10 years (1) 326,474 341,973 RMBS (2) 184,603 182,716 CMBS (2) 432,124 435,101 Other ABS (2) 596,416 597,864 Total $ 3,129,901 $ 3,158,843 ______________________ (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)	6 Months Ended
	Jun. 30, 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 June 30, 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 — (184,374 ) (184,374 ) Balance at June 30, 2017 $ 197,391 $ (186,469 ) $ 10,922
Schedule of Finite-Lived Intangible Assets [Table Text Block]	December 31, 2016 (In thousands) Original Amount Acquired 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 following is a summary of the gross and net carrying amounts and accumulated amortization of our other intangible assets as of the periods indicated: June 30, 2017 (In thousands) Original Amount Acquired Accumulated Amortization and Impairment Net Carrying Amount Client relationships (1) $ 83,358 $ (38,816 ) $ 44,542 Technology (2) 15,250 (7,712 ) 7,538 Trade name and trademarks 8,340 (2,566 ) 5,774 Client backlog 6,680 (5,620 ) 1,060 Non-competition agreements 185 (164 ) 21 Total $ 113,813 $ (54,878 ) $ 58,935 ______________________ (1) Includes an impairment charge of $14.9 million . (2) Includes an impairment charge of $0.9 million .
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 $ 5,529 2018 10,346 2019 8,820 2020 7,442 2021 5,859 2022 5,081 Thereafter 15,858 Total $ 58,935

Note 7 - Reinsurance (Tables)

Note 7 - Reinsurance (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended (In thousands) 2017 2016 2017 2016 Net premiums written—insurance: Direct $ 260,647 $ 252,728 $ 500,292 $ 486,654 Ceded (1) (19,340 ) (20,375 ) (34,320 ) (227,991 ) Net premiums written—insurance $ 241,307 $ 232,353 $ 465,972 $ 258,663 Net premiums earned—insurance: Direct $ 243,229 $ 248,938 $ 479,291 $ 489,268 Assumed 7 9 14 18 Ceded (1) (14,140 ) (19,862 ) (28,409 ) (39,251 ) Net premiums earned—insurance $ 229,096 $ 229,085 $ 450,896 $ 450,035 ______________________ (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 Six Months Ended (In thousands) 2017 2016 2017 2016 Ceded premiums written (1) $ 5,059 $ 7,356 $ 10,516 $ 15,318 Ceded premiums earned (1) 7,404 11,172 15,238 22,497 Ceding commissions written 1,446 2,099 3,005 4,369 Ceding commissions earned (2) 3,379 3,779 7,273 8,225 Ceded losses, net (310 ) 223 260 764 Single Premium QSR Transaction Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Ceded premiums written (1) $ 13,856 $ 11,488 $ 22,816 $ 209,081 (3) Ceded premiums earned (1) 6,311 7,146 12,170 13,140 Ceding commissions written 5,134 4,844 8,846 55,776 Ceding commissions earned (2) 3,248 3,759 6,185 6,791 Ceded losses 464 380 1,037 916 ______________________ (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 (Tables)

Note 8 - Other Assets (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Deposit with the IRS (Note 9) $ 88,557 $ 88,557 Corporate-owned life insurance 84,981 83,248 Property and equipment (1) (2) 87,541 70,665 Accrued investment income 29,348 29,255 Deferred policy acquisition costs 14,350 14,127 Reinsurance recoverables 7,523 7,368 Other 65,055 50,615 Total other assets $ 377,355 $ 343,835 ______________________ (1) Property and equipment at cost, less accumulated depreciation of $126.8 million and $118.5 million at June 30, 2017 and December 31, 2016 , respectively. Depreciation expense was $4.1 million and $2.4 million for the three-month periods ended June 30, 2017 and 2016 , respectively, and $8.3 million and $4.7 million for the six-month periods ended June 30, 2017 and 2016 , respectively. (2) Includes $47.0 million and $49.7 million at June 30, 2017 and December 31, 2016 , respectively, related to our technology upgrade project and $15.6 million at June 30, 2017 of leasehold improvements related to our new corporate headquarters.

Note 10 - Losses and LAE (Table

Note 10 - Losses and LAE (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Reserves for losses by category: Prime $ 318,169 $ 379,845 Alt-A 124,477 148,006 A minus and below 85,283 101,653 IBNR and other (1) 69,620 71,107 LAE 15,492 18,630 Reinsurance recoverable (2) 7,341 6,816 Total primary reserves 620,382 726,057 Pool 29,099 31,853 IBNR and other 658 673 LAE 843 932 Reinsurance recoverable (2) 30 35 Total pool reserves 30,630 33,493 Total First-lien reserves 651,012 759,550 Other (3) 579 719 Total reserve for losses $ 651,591 $ 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: Six 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) 88,906 100,999 Prior years (24,721 ) (8,438 ) Total incurred 64,185 92,561 Deduct: Paid claims and LAE related to: Current year (2) 1,027 632 Prior years 172,356 217,740 Total paid 173,383 218,372 Balance at end of period, net of reinsurance recoverables 644,220 842,302 Add: Reinsurance recoverables (1) 7,371 6,077 Balance at end of period $ 651,591 $ 848,379 ______________________ (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)	6 Months Ended
	Jun. 30, 2017
Long-term Debt, Unclassified [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The carrying value of our long-term debt at June 30, 2017 and December 31, 2016 was as follows: (In thousands) June 30, December 31, 5.500% Senior Notes due 2019 $ 297,510 $ 296,907 5.250% Senior Notes due 2020 345,932 345,308 7.000% Senior Notes due 2021 344,943 344,362 3.000% Convertible Senior Notes due 2017 625 20,947 2.250% Convertible Senior Notes due 2019 — 62,013 Total long-term debt $ 989,010 $ 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) June 30, December 31, June 30, December 31, Liability component: Principal $ 642 $ 22,233 $ — $ 68,024 Debt discount, net (1) (16 ) (1,221 ) — (5,461 ) Debt issuance costs (1) (1 ) (65 ) — (550 ) Net carrying amount $ 625 $ 20,947 $ — $ 62,013 Equity component of currently redeemable convertible senior notes $ 16 $ — $ — $ — ______________________ (1) Included within long-term debt and is being amortized over the life of the convertible notes. The following tables set forth total interest expense recognized related to the convertible notes for the periods indicated: Convertible Senior Notes due 2017 Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ 141 $ 167 $ 308 $ 539 Amortization of debt issuance costs 14 17 32 54 Amortization of debt discount 267 314 605 1,022 Total interest expense (benefit) (1) $ 422 $ 498 $ 945 $ 1,615 ______________________ (1) Interest expense (benefit) represents expense incurred, net of adjustments to accruals previously recorded. Convertible Senior Notes due 2019 Three Months Ended Six Months Ended (In thousands) 2017 2016 2017 2016 Contractual interest expense (benefit) (1) $ — $ 537 $ (510 ) $ 2,550 Amortization of debt issuance costs — 80 16 373 Amortization of debt discount — 788 163 3,697 Total interest expense (benefit) (1) $ — $ 1,405 $ (331 ) $ 6,620 ______________________ (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)	6 Months Ended
	Jun. 30, 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 June 30, 2017 Six Months Ended June 30, 2017 (In thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Balance at beginning of period $ (5,168 ) $ (1,805 ) $ (3,363 ) $ (19,063 ) $ (6,668 ) $ (12,395 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 31,137 10,898 20,239 42,471 14,865 27,606 Less: Reclassification adjustment for net gains (losses) included in net income (loss) (1) (1,795 ) (628 ) (1,167 ) (4,304 ) (1,506 ) (2,798 ) Net unrealized gains (losses) on investments 32,932 11,526 21,406 46,775 16,371 30,404 Net foreign currency translation adjustments 114 40 74 166 58 108 OCI 33,046 11,566 21,480 46,941 16,429 30,512 Balance at end of period $ 27,878 $ 9,761 $ 18,117 $ 27,878 $ 9,761 $ 18,117 Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 (In thousands) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Balance at beginning of period $ 35,064 $ 12,273 $ 22,791 $ (28,425 ) $ (9,948 ) $ (18,477 ) OCI: Unrealized gains (losses) on investments: Unrealized holding gains (losses) arising during the period 61,996 21,699 40,297 122,571 42,900 79,671 Less: Reclassification adjustment for net gains (losses) included in net income (loss) (1) 1,166 408 758 (2,152 ) (753 ) (1,399 ) Net unrealized gains (losses) on investments 60,830 21,291 39,539 124,723 43,653 81,070 Net foreign currency translation adjustments (346 ) (121 ) (225 ) (476 ) (166 ) (310 ) Net actuarial loss — — — (274 ) (96 ) (178 ) OCI 60,484 21,170 39,314 123,973 43,391 80,582 Balance at end of period $ 95,548 $ 33,443 $ 62,105 $ 95,548 $ 33,443 $ 62,105 ______________________ (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)	6 Months Ended
	Jun. 30, 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. June 30, December 31, ($ in millions) RIF, net (1) $ 37,374.1 $ 35,357.8 Common stock and paid-in capital $ 1,866.1 $ 2,041.0 Unassigned earnings (deficit) (710.0 ) (691.3 ) Statutory policyholders’ surplus 1,156.1 1,349.7 Contingency reserve 1,460.9 1,260.6 Statutory capital $ 2,617.0 $ 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 ($)shares	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Overview [Abstract]
Number of Operating Segments | segment					2
Mortgage Insurance [Abstract]
Loss on induced conversion and debt extinguishment		$ (1,247)		$ (2,108)	$ (5,703)	$ (57,678)
Impairment of goodwill (Note 6)		184,374		$ 0	184,374	$ 0
Finite-Lived Intangible Assets, Net		$ 58,935			$ 58,935
Mortgage Insurance Segment
Mortgage Insurance [Abstract]
Private Mortgage Insurance Protects Lenders For Loans Made With Less Than This Maximum Down Payment Percentage		20.00%			20.00%
Risk In Force		$ 49,800,000			$ 49,800,000
Mortgage and Real Estate Services Segment [Member]
Mortgage Insurance [Abstract]
Impairment of goodwill (Note 6)		184,374			184,374		$ 0
Impairment of Intangible Assets, Finite-lived		15,800
Goodwill		10,922			10,922		195,170	$ 195,170
Finite-Lived Intangible Assets, Net		58,935			58,935		$ 81,058
Convertible Senior Notes Due 2017
Mortgage Insurance [Abstract]
Repayments of Convertible Debt		31,600
Convertible Senior Notes Due 2019
Mortgage Insurance [Abstract]
Debt Instrument, Repurchase Amount			$ 68,000
Repayments of Convertible Debt	$ 110,100
Loss on induced conversion and debt extinguishment	$ (4,500)		$ (4,500)
Convertible Debt | Convertible Senior Notes Due 2017
Mortgage Insurance [Abstract]
Debt Instrument, Repurchase Amount		21,600			$ 21,600
Loss on induced conversion and debt extinguishment		$ (1,200)
Convertible Debt | Convertible Senior Notes Due 2019
Mortgage Insurance [Abstract]
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					98.20%
Pool Insurance Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Mortgage Insurance [Abstract]
Concentration Risk, Percentage					1.70%

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		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders, Diluted		$ (27,342)	$ 99,025	$ 48,915	$ 168,664
Dilutive effect of share-based compensation arrangements (2)	[1]	0	2,989	3,896	2,698
Adjusted average common shares outstanding—diluted		215,152	226,203	220,474	232,945
Net income (loss)—diluted		$ (0.13)	$ 0.44	$ 0.22	$ 0.73
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)—basic		$ (27,342)	$ 98,112	$ 49,130	$ 164,361
Average common shares outstanding - basic		215,152	214,274	215,054	208,991
Net income per share - basic		$ (0.13)	$ 0.46	$ 0.23	$ 0.79
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]	$ 0	$ 913	$ (215)	$ 4,303
Dilutive effect of Convertible Senior Notes due 2017 (2)		0	8,928	922	21,256
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 due 2017 (2)	[1]	0	12	602	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		5,975	1,042	442	1,042
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		509	0	0	1,902
[1]	There were no dilutive shares for the three months ended June 30, 2017, as a result of our net loss for the period. The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and our convertible debt were not included in the calculation of diluted net income (loss) per share because they were anti-dilutive: Three Months EndedJune 30, Six Months EndedJune 30,(In thousands)2017 2016 2017 2016Shares of common stock equivalents5,975 1,042 442 1,042Shares of Convertible Senior Notes due 2017509 — — 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. Included in the six months ended June 30, 2017 is a benefit related to our adjustment of estimated accrued expense to actual amounts, resulting from the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019.

Note 3 - Segment Reporting Sche

Note 3 - Segment Reporting Schedule of Segment Reporting Information by Segment (Details) $ in Thousands		3 Months Ended				6 Months Ended				12 Months Ended
		Jun. 30, 2017USD ($)		Jun. 30, 2016USD ($)		Jun. 30, 2017USD ($)segment		Jun. 30, 2016USD ($)		Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Goodwill, Impairment Loss		$ (184,374)		$ 0		$ (184,374)		$ 0
Number of Operating Segments | segment						2
Net premiums earned-insurance		229,096		229,085		$ 450,896		450,035
Services revenue		37,802		40,263		75,829		73,112
Net investment income		30,071		28,839		61,103		56,040
Other income		612		1,454		1,358		2,120
Policy acquisition costs		6,123		5,393		12,852		11,782
Cost of services		25,635		27,365		54,010		50,915
Other operating expenses before corporate allocations		68,750		63,173		137,127		120,361
Net gains (losses) on investments and other financial instruments		5,331		30,527		2,480		61,813
Total assets		5,817,106				5,817,106				$ 5,863,174
Mortgage Insurance Segment
Segment Reporting Information [Line Items]
Net premiums written—insurance	[1]	241,307		232,353	[2]	465,972		258,663	[2]
(Increase) decrease in unearned premiums		(12,211)		(3,268)	[2]	(15,076)		191,372	[2]
Net premiums earned-insurance		229,096		229,085	[2]	450,896		450,035	[2]
Net investment income		30,071		28,839	[2]	61,103		56,040	[2]
Other income		612		1,454	[2]	1,358		2,120	[2]
Total	[3]	259,779		259,378	[2]	513,357		508,195	[2]
Provision for losses		17,714		50,074	[2]	64,946		93,349	[2]
Policy acquisition costs		6,123		5,393	[2]	12,852		11,782	[2]
Other operating expenses before corporate allocations		37,939		34,365	[2]	77,228		66,911	[2]
Total	[4]	61,776		89,832	[2]	155,026		172,042	[2]
Adjusted pretax operating income (loss) before corporate allocations		198,003		169,546	[2]	358,331		336,153	[2]
Allocation of corporate operating expenses		15,894		14,286	[2]	30,080		23,615	[2]
Allocation of interest expense		11,748		18,124	[2]	23,257		35,236	[2]
Adjusted pretax operating income (loss)	[5]	170,361		137,136	[2]	304,994		277,302	[2]
Inter-segment expenses		2,173		1,947		4,235		3,546
Total assets		5,605,607				5,605,607				5,506,338
Mortgage and Real Estate Services Segment [Member]
Segment Reporting Information [Line Items]
Goodwill, Impairment Loss		(184,374)				(184,374)				0
Services revenue	[6]	39,975		42,210	[7]	80,064		76,658	[7]
Cost of services		25,962		27,730	[7]	54,652		51,584	[7]
Other operating expenses before corporate allocations		12,803		13,030	[7]	25,407		27,398	[7]
Total		38,765		40,760	[7]	80,059		78,982	[7]
Adjusted pretax operating income (loss) before corporate allocations		1,210		1,450	[7]	5		(2,324)	[7]
Allocation of corporate operating expenses		3,404		2,779	[7]	7,122		4,530	[7]
Allocation of interest expense		4,431		4,422	[7]	8,860		8,844	[7]
Adjusted pretax operating income (loss)	[5]	(6,625)		(5,751)	[7]	(15,977)		(15,698)	[7]
Inter-segment revenues		2,173		$ 1,947		4,235		$ 3,546
Total assets		$ 211,499	[8]			$ 211,499	[8]			$ 356,836
[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 made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 gains on investments and other financial instruments of $5.3 million and $2.5 million, respectively, for the three and six months ended June 30, 2017, and net gains on investments and other financial instruments of $30.5 million and $61.8 million, respectively, for the three and six months ended June 30, 2016, not included in adjusted pretax operating income.
[4]	Includes inter-segment expenses as follows: Three Months EndedJune 30, Six Months EndedJune 30,(In thousands)2017 2016 2017 2016Inter-segment expenses$2,173 $1,947 $4,235 $3,546
[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 EndedJune 30, Six Months EndedJune 30,(In thousands)2017 2016 2017 2016Inter-segment revenues$2,173 $1,947 $4,235 $3,546
[7]	Reflects changes made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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.
[8]	The decrease in total assets for the Services segment at June 30, 2017, as compared to December 31, 2016, is primarily due to the impairment of goodwill and other intangible assets. See Note 6 for further details.

Note 3 - Segment Reporting Reco

Note 3 - Segment Reporting Reconciliation of Segment to Consolidated Results Pretax (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended			12 Months Ended
		Jun. 30, 2017	Jun. 30, 2016		Jun. 30, 2017	Jun. 30, 2016		Dec. 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		$ 5,331	$ 30,527		$ 2,480	$ 61,813
Loss on induced conversion and debt extinguishment		(1,247)	(2,108)		(5,703)	(57,678)
Acquisition-related (expenses) benefits	[1]	(64)	54		(72)	(151)
Goodwill, Impairment Loss		184,374	0		184,374	0
Increase (Decrease) in Goodwill and Intangible Assets		(18,856)	(3,311)		(22,152)	(6,639)
Consolidated pretax income from continuing operations		(35,474)	156,547		79,196	258,949
Mortgage Insurance Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted pretax operating income (loss)	[2]	170,361	137,136	[3]	304,994	277,302	[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]	(6,625)	(5,751)	[4]	(15,977)	(15,698)	[4]
Goodwill, Impairment Loss		184,374			184,374			$ 0
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)		$ 163,736	$ 131,385		$ 289,017	$ 261,604
[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 made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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 made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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			6 Months Ended			12 Months Ended
		Jun. 30, 2017		Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016	Dec. 31, 2016
Fair Value by Hierarchy Level [Line Items]
Gain (Loss) on Investments		$ 4,756,000		$ 29,265,000	$ 1,803,000		$ 58,917,000
Other than Temporary Impairment Losses, Investments		1,000,000		0	1,000,000		0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value by Hierarchy Level [Line Items]
Cost Method Investments		783,000			783,000			$ 1,195,000
Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		4,583,059,000	[1]		4,583,059,000	[1]		4,461,235,000	[2]
Total Assets at Fair Value		4,583,059,000			4,583,059,000			4,461,235,000
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount		0		0	0		0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount		0		0	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0		0	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net		0		$ 0	0		$ 0
US government and agency securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		217,660,000			217,660,000			237,479,000
State and municipal obligations | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		377,437,000			377,437,000			358,536,000
Money market instruments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		214,654,000			214,654,000			431,472,000
Corporate bonds and notes | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		2,231,037,000			2,231,037,000			2,024,205,000
RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		216,830,000			216,830,000			388,842,000
CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		499,368,000			499,368,000			507,273,000
Other ABS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		601,718,000			601,718,000			450,128,000
Foreign government securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		36,346,000			36,346,000			32,807,000
Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		176,808,000			176,808,000			1,330,000
Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		11,201,000	[3]		11,201,000	[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		595,651,000	[1]		595,651,000	[1]		668,951,000	[2]
Total Assets at Fair Value		595,651,000			595,651,000			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		205,049,000			205,049,000			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			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		214,654,000			214,654,000			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			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			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			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			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			0
Fair Value, Inputs, Level 1 | Equity securities | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		175,948,000			175,948,000			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	[3]		0	[4]
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value		3,987,408,000	[1]		3,987,408,000	[1]		3,791,284,000	[2]
Total Assets at Fair Value		3,987,408,000			3,987,408,000			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		12,611,000			12,611,000			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		377,437,000			377,437,000			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			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		2,231,037,000			2,231,037,000			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		216,830,000			216,830,000			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		499,368,000			499,368,000			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		601,718,000			601,718,000			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		36,346,000			36,346,000			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		860,000			860,000			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		11,201,000	[3]		11,201,000	[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	[2]							1,000,000
Total Assets at Fair Value		0			0			1,000,000
Gain (Loss) on Investments								0
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value		$ 0			$ 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
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
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
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
Fair Value, Inputs, Level 3 | RMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value								0
Fair Value, Inputs, Level 3 | CMBS | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value								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
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
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
Fair Value, Inputs, Level 3 | Other investments | Fair Value, Measurements, Recurring
Fair Value by Hierarchy Level [Line Items]
Total Investments at Fair Value	[4]							$ 500,000
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 ($0.8 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.
[4]	Comprising short-term certificates of deposit and commercial paper, included within Level II, and convertible notes of non-public company 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	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 989,010	$ 1,069,537
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	4,583,059	4,461,235
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost Method Investments	783	1,195
Long-term debt	989,010	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	3,482	3,789
Long-term Debt, Fair Value	1,079,346	1,214,471
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	3,987,408	3,791,284
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	$ 0	$ 1,000

Note 5 - Investments Unrealized

Note 5 - Investments Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 3,129,901		$ 2,856,468
Available-for-sale Securities, Debt Securities	3,158,843		2,838,512
Available-for-sale Equity Securities, Amortized Cost Basis	176,930		1,330
Available-for-sale Securities, Equity Securities	176,808		1,330
Amortized Cost Debt and Equity Securities	3,306,831		2,857,798
Available-for-sale Securities	3,335,651		2,839,842
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	42,490		20,827
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	13,670		38,783
US government and agency securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	58,706		78,931
Available-for-sale Securities, Debt Securities	58,343		75,474
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	201		2
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	564		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	111,858		66,124
Available-for-sale Securities, Debt Securities	115,454		67,171
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	3,936		1,868
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	340		821
Corporate bonds and notes
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	1,713,237		1,463,720
Available-for-sale Securities, Debt Securities	1,735,846		1,455,628
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	30,429		14,320
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	7,820		22,412
RMBS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	184,603		358,262
Available-for-sale Securities, Debt Securities	182,716		350,628
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	921		197
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	2,808		7,831
CMBS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	432,124		429,057
Available-for-sale Securities, Debt Securities	435,101		428,289
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	4,075		2,255
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	1,098		3,023
Other ABS
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	596,416		433,603
Available-for-sale Securities, Debt Securities	597,864		434,728
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	2,023		2,037
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	575		912
Foreign government securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	31,457		24,771
Available-for-sale Securities, Debt Securities	32,019		24,594
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	589		148
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	27		325
Other than Securities Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	1,500		2,000
Available-for-sale Securities, Debt Securities	1,500		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	3,129,901		2,856,468
Available-for-sale Securities, Debt Securities	3,158,843		2,838,512
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	42,174		20,827
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	13,232		38,783
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Equity Securities, Amortized Cost Basis	176,930	[1]	1,330	[2]
Available-for-sale Securities, Equity Securities	176,808	[1]	1,330	[2]
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	316	[1]	0	[2]
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	$ 438	[1]	$ 0	[2]
[1]	Primarily consists of investments in fixed income and equity exchange-traded funds and publicly-traded business development company equities.
[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 FHLB.

Note 5 - Investments Schedule o

Note 5 - Investments Schedule of Unrealized Losses (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)security	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)security	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)security
Schedule of Available-for-sale Securities [Line Items]
Other than Temporary Impairment Losses, Investments	$ 1,000	$ 0	$ 1,000	$ 0
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	311		311		362
Fair value available-for-sale securities	$ 1,139,971		$ 1,139,971		$ 1,566,440
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 13,490		$ 13,490		$ 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	5		5		21
Fair value available-for-sale securities	$ 11,303		$ 11,303		$ 58,451
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 180		$ 180		$ 842
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	316		316		383
Fair value available-for-sale securities	$ 1,151,274		$ 1,151,274		$ 1,624,891
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 13,670		$ 13,670		$ 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	7		7		7
Fair value available-for-sale securities	$ 36,682		$ 36,682		$ 73,160
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 564		$ 564		$ 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		0
Fair value available-for-sale securities	$ 0		$ 0		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0		$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	7		7		7
Fair value available-for-sale securities	$ 36,682		$ 36,682		$ 73,160
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 564		$ 564		$ 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	10		10		7
Fair value available-for-sale securities	$ 47,282		$ 47,282		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 340		$ 340		$ 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		0
Fair value available-for-sale securities	$ 0		$ 0		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0		$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	10		10		7
Fair value available-for-sale securities	$ 47,282		$ 47,282		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 340		$ 340		$ 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	132		132		185
Fair value available-for-sale securities	$ 530,077		$ 530,077		$ 788,876
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 7,718		$ 7,718		$ 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	1		1		2
Fair value available-for-sale securities	$ 3,736		$ 3,736		$ 4,582
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 102		$ 102		$ 277
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	133		133		187
Fair value available-for-sale securities	$ 533,813		$ 533,813		$ 793,458
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 7,820		$ 7,820		$ 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	32		32		56
Fair value available-for-sale securities	$ 128,589		$ 128,589		$ 311,031
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 2,733		$ 2,733		$ 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		3		1
Fair value available-for-sale securities	$ 6,529		$ 6,529		$ 1,398
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 75		$ 75		$ 9
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	35		35		57
Fair value available-for-sale securities	$ 135,118		$ 135,118		$ 312,429
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 2,808		$ 2,808		$ 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	31		31		37
Fair value available-for-sale securities	$ 113,103		$ 113,103		$ 218,170
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 1,095		$ 1,095		$ 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	1		1		2
Fair value available-for-sale securities	$ 1,038		$ 1,038		$ 6,585
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 3		$ 3		$ 114
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	32		32		39
Fair value available-for-sale securities	$ 114,141		$ 114,141		$ 224,755
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,098		$ 1,098		$ 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	83		83		58
Fair value available-for-sale securities	$ 205,378		$ 205,378		$ 131,268
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 575		$ 575		$ 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	0		0		16
Fair value available-for-sale securities	$ 0		$ 0		$ 45,886
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0		$ 442
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	83		83		74
Fair value available-for-sale securities	$ 205,378		$ 205,378		$ 177,154
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 575		$ 575		$ 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	5		5		12
Fair value available-for-sale securities	$ 5,419		$ 5,419		$ 13,034
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 27		$ 27		$ 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		0
Fair value available-for-sale securities	$ 0		$ 0		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0		$ 0
Continuous Loss Position, Total
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	5		5		12
Fair value available-for-sale securities	$ 5,419		$ 5,419		$ 13,034
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	27		$ 27		$ 325
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Other than Temporary Impairment Losses, Investments	500
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Other than Temporary Impairment Losses, Investments	$ 500
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	11		11
Fair value available-for-sale securities	$ 73,441		$ 73,441
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 438		$ 438
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	11		11
Fair value available-for-sale securities	$ 73,441		$ 73,441
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 438		$ 438

Note 5 - Investments Investment

Note 5 - Investments Investments Trading Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]
Unrealized Gain (Loss) on Trading Securities Held	$ 8,000	$ 16,800
Trading Securities	708,788	879,862
US government and agency securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	28,336	33,042
State and municipal obligations
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	216,838	259,573
Corporate bonds and notes
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	360,906	453,617
RMBS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	34,114	38,214
CMBS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	64,267	78,984
Other ABS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	0	8,219
Foreign government securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities	$ 4,327	$ 8,213

Note 5 - Investments Gain (Loss

Note 5 - Investments Gain (Loss) on Investments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)security	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)security	Jun. 30, 2016USD ($)	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	311		311		362
Other gains	$ 0	$ 0	$ 18	$ 18
Net realized losses on investments	(1,182)	1,587	(9,361)	(3,992)
Other than Temporary Impairment Losses, Investments	(1,000)	0	(1,000)	0
Unrealized gains on trading securities	6,938	27,678	12,164	62,909
Total net gains on investments	4,756	29,265	1,803	58,917
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	1,139,971		1,139,971		$ 1,566,440
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 13,490		$ 13,490		$ 37,941
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	5		5		21
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 11,303		$ 11,303		$ 58,451
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 180		$ 180		$ 842
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	316		316		383
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 1,151,274		$ 1,151,274		$ 1,624,891
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	13,670		13,670		$ 38,783
Net gains (losses) on other financial instruments	575	1,262	677	2,896
Net Gains (Losses) on Investments and Other Financial Instruments	5,331	30,527	2,480	61,813
Fixed Maturities [Member]
Gain (Loss) on Investments [Line Items]
Available-for-sale Securities, Gross Realized (Loss) Gain, Excluding Other than Temporary Impairments	(1,180)	1,166	(3,689)	(1,982)
Equity securities
Gain (Loss) on Investments [Line Items]
Available-for-sale Securities, Gross Realized (Loss) Gain, Excluding Other than Temporary Impairments	385	0	385	(170)
Trading Securities [Member]
Gain (Loss) on Investments [Line Items]
Trading securities	(349)	421	(6,043)	(1,819)
Short-term Investments [Member]
Gain (Loss) on Investments [Line Items]
Short-term investments	$ (38)	$ 0	$ (32)	$ (39)
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	10		10		7
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 47,282		$ 47,282		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 340		$ 340		$ 821
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | security	0		0		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 0		$ 0		$ 0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 0		$ 0		$ 0
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | security	10		10		7
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 47,282		$ 47,282		$ 30,901
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 340		$ 340		$ 821

Note 5 - Investments Schedule45

Note 5 - Investments Schedule of Contractual Maturities (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Available-for-sale Securities, Amortized Cost
Available-for-sale Debt Securities, Amortized Cost Basis		$ 3,129,901	$ 2,856,468
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Securities		3,158,843	2,838,512
Debt Securities
Available-for-sale Securities, Amortized Cost
Available-for-sale Debt Securities, Amortized Cost Basis		3,129,901
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Securities		3,158,843
Non Asset Backed Security Investments, Contractual Maturities
Available-for-sale Securities, Amortized Cost
Due in one year or less	[1]	59,342
Due after one year through five years	[1]	656,233
Due after five years through ten years	[1]	874,709
Due after ten years	[1]	326,474
Available-for-sale Securities, Fair Value
Due in one year or less	[1]	59,351
Due after one year through five years	[1]	661,676
Due after five years through ten years	[1]	880,162
Due after ten years	[1]	341,973
RMBS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	184,603
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	182,716
CMBS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	432,124
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	435,101
Other ABS
Available-for-sale Securities, Amortized Cost
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	[2]	596,416
Available-for-sale Securities, Fair Value
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	[2]	597,864
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) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill, Impairment Loss	$ (184,374)	$ 0	$ (184,374)	$ 0
Mortgage and Real Estate Services Segment [Member]
Goodwill [Line Items]
Goodwill, Gross, Beginning of Period			197,265	197,265	$ 197,265
Goodwill, Acquired During Period			126		0
Goodwill, Gross, End of Period	197,391		197,391		197,265
Goodwill, Impaired, Accumulated Impairment Loss, Beginning of Period			(2,095)	$ (2,095)	(2,095)
Goodwill, Impairment Loss	(184,374)		(184,374)		0
Goodwill, Impaired, Accumulated Impairment Loss, End of Period	(186,469)		(186,469)		(2,095)
Goodwill, Net	$ 10,922		$ 10,922		$ 195,170	$ 195,170

Note 6 - Goodwill and Other I47

Note 6 - Goodwill and Other Intangible Assets, Net Schedule of Finite-Lived Intangible Assets Including Impairment (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017		Jun. 30, 2017		Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net		$ 58,935		$ 58,935
Mortgage and Real Estate Services Segment [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived		15,800
Finite-Lived Intangible Assets, Gross		113,813		113,813		$ 113,771
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment		(54,878)		(54,878)
Finite-Lived Intangible Assets, Accumulated Amortization						(32,713)
Finite-Lived Intangible Assets, Net		58,935		58,935		81,058
Mortgage and Real Estate Services Segment [Member] | Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived				14,900
Finite-Lived Intangible Assets, Gross		83,358	[1]	83,358	[1]	83,316
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment	[1]	(38,816)		(38,816)
Finite-Lived Intangible Assets, Accumulated Amortization						(19,696)
Finite-Lived Intangible Assets, Net		44,542	[1]	44,542	[1]	63,620
Mortgage and Real Estate Services Segment [Member] | Technology-Based Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived				900
Finite-Lived Intangible Assets, Gross		15,250	[2]	15,250	[2]	15,250
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment	[2]	(7,712)		(7,712)
Finite-Lived Intangible Assets, Accumulated Amortization						(5,497)
Finite-Lived Intangible Assets, Net		7,538	[2]	7,538	[2]	9,753
Mortgage and Real Estate Services Segment [Member] | Trademarks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		8,340		8,340		8,340
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment		(2,566)		(2,566)
Finite-Lived Intangible Assets, Accumulated Amortization						(2,125)
Finite-Lived Intangible Assets, Net		5,774		5,774		6,215
Mortgage and Real Estate Services Segment [Member] | Order or Production Backlog [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		6,680		6,680		6,680
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment		(5,620)		(5,620)
Finite-Lived Intangible Assets, Accumulated Amortization						(5,235)
Finite-Lived Intangible Assets, Net		1,060		1,060		1,445
Mortgage and Real Estate Services Segment [Member] | Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		185		185		185
Finite-Lived Intangible Assets, Accumulated Amortization and Impairment		(164)		(164)
Finite-Lived Intangible Assets, Accumulated Amortization						(160)
Finite-Lived Intangible Assets, Net		$ 21		$ 21		$ 25
[1]	Includes an impairment charge of $14.9 million.
[2]	Includes an impairment charge of $0.9 million.

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	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 5,529
Finite-Lived Intangible Assets, Amortization Expense, Year Two	10,346
Finite-Lived Intangible Assets, Amortization Expense, Year Three	8,820
Finite-Lived Intangible Assets, Amortization Expense, Year Four	7,442
Finite-Lived Intangible Assets, Amortization Expense, Year Five	5,859
Finite-Lived Intangible Assets, Amortization Expense, Year Five	5,081
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	15,858
Finite-Lived Intangible Assets, Net	$ 58,935
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years

Note 7 - Reinsurance Reinsuranc

Note 7 - Reinsurance Reinsurance Premiums Written and Earned (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016		Jun. 30, 2017	Jun. 30, 2016
Premiums Earned, Net [Abstract]
Net premiums earned-insurance		$ 229,096	$ 229,085		$ 450,896	$ 450,035
Mortgage Insurance Segment
Premiums Written, Net [Abstract]
Direct Premiums Written		260,647	252,728		500,292	486,654
Ceded Premiums Written	[1]	(19,340)	(20,375)		(34,320)	(227,991)
Net premiums written	[2]	241,307	232,353	[3]	465,972	258,663	[3]
Premiums Earned, Net [Abstract]
Direct Premiums Earned		243,229	248,938		479,291	489,268
Assumed Premiums Earned		7	9		14	18
Ceded Premiums Earned	[1]	(14,140)	(19,862)		(28,409)	(39,251)
Net premiums earned-insurance		$ 229,096	$ 229,085	[3]	$ 450,896	$ 450,035	[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 made during the fourth quarter of 2016 to align our segment reporting structure concurrent with 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		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Quota Share Reinsurance Transactions [Member]
Ceded Credit Risk [Line Items]
Ceded Premiums Written	[1]	$ 5,059	$ 7,356	$ 10,516	$ 15,318
Ceded Premiums Earned	[1]	7,404	11,172	15,238	22,497
Accrued Liabilities for Commissions, Expense and Taxes		1,446	2,099	3,005	4,369
Fees and Commissions	[2]	3,379	3,779	7,273	8,225
Ceded losses, net		(310)	223	260	764
Single Premium QSR Transaction [Member]
Ceded Credit Risk [Line Items]
Ceded Premiums Written	[1]	13,856	11,488	22,816	209,081	[3]
Ceded Premiums Earned	[1]	6,311	7,146	12,170	13,140
Accrued Liabilities for Commissions, Expense and Taxes		5,134	4,844	8,846	55,776
Fees and Commissions	[2]	3,248	3,759	6,185	6,791
Risk In Force		4,100,000	3,500,000	4,100,000	3,500,000
Ceded losses, net		464	380	1,037	916
First Lien Mortgage Insurance Products [Member] | Quota Share Reinsurance Transactions [Member]
Ceded Credit Risk [Line Items]
Risk In Force		$ 1,400,000	$ 1,900,000	$ 1,400,000	$ 1,900,000
[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		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Deposit with the IRS (Note 9)		$ 88,557		$ 88,557		$ 88,557
Corporate-owned life insurance		84,981		84,981		83,248
Property and equipment	[1],[2]	87,541		87,541		70,665
Accrued investment income		29,348		29,348		29,255
Deferred policy acquisition costs		14,350		14,350		14,127
Reinsurance recoverables		7,523		7,523		7,368
Other		65,055		65,055		50,615
Total other assets		377,355		377,355		343,835
Property and Equipment, Owned, Accumulated Depreciation		126,800		126,800		118,500
Depreciation		4,100	$ 2,400	8,300	$ 4,700
Technology Upgrade Related Costs [Member]
Property and equipment		47,000		47,000		$ 49,700
Leasehold Improvements [Member]
Property and equipment		$ 15,600		$ 15,600
[1]	Includes $47.0 million and $49.7 million at June 30, 2017 and December 31, 2016, respectively, related to our technology upgrade project and $15.6 million at June 30, 2017 of leasehold improvements related to our new corporate headquarters.
[2]	Property and equipment at cost, less accumulated depreciation of $126.8 million and $118.5 million at June 30, 2017 and December 31, 2016, respectively. Depreciation expense was $4.1 million and $2.4 million for the three-month periods ended June 30, 2017 and 2016, respectively, and $8.3 million and $4.7 million for the six-month periods ended June 30, 2017 and 2016, respectively.

Note 9 - Income Taxes Income Ta

Note 9 - Income Taxes Income Tax (Details) $ in Millions	Jun. 30, 2017USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 395.1
Deferred Tax Assets, Tax Credit Carryforwards, Research	5.6
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	30.1
State and Local NOL Carryforwards [Member]
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Amount	$ 48.8

Note 9 - Income Taxes Summary o

Note 9 - Income Taxes Summary of Income Tax Examinations (Details) - Internal Revenue Service (IRS) [Member] - USD ($) $ in Millions	Jun. 30, 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	$ 143
Income Tax Examination, Proposed State Liabilities Resulting from IRS Examination of Tax Years 2000 Through 2007	$ 36

Note 10 - Losses and LAE Mortga

Note 10 - Losses and LAE Mortgage Insurance Reserves by Product (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Claims and Claims Adjustment Expense		$ 651,591	$ 760,269
Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Reinsurance recoverables	[1]	7,371	6,851	$ 6,077	$ 8,286
Liability for Claims and Claims Adjustment Expense		651,591	760,269	$ 848,379	$ 976,399
Prime Mortgage Insurance Product [Member] | Mortgage Insurance Segment
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for Unpaid Claims		318,169	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		124,477	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		85,283	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]	69,620	71,107
Liability for Claims Adjustment Expense		15,492	18,630
Reinsurance recoverables	[3]	7,341	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		620,382	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		29,099	31,853
Liability for Incurred but Not Reported Claims		658	673
Liability for Claims Adjustment Expense		843	932
Reinsurance recoverables	[3]	30	35
Liability for Claims and Claims Adjustment Expense		30,630	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		651,012	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]	$ 579	$ 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		6 Months Ended		12 Months Ended
		Jun. 30, 2017	Jun. 30, 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		651,591		$ 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]	88,906	100,999
Prior years		(24,721)	(8,438)
Total incurred losses and LAE		64,185	92,561
Deduct paid claims and LAE related to [Abstract]
Paid Losses and LAE Current year	[2]	1,027	632
Paid losses and LAE Prior years		172,356	217,740
Total paid losses and LAE		173,383	218,372
Balance at end of period, net of reinsurance recoverables		644,220	842,302	753,418
Add reinsurance recoverables	[1]	7,371	6,077	6,851
Balance at March 31		$ 651,591	$ 848,379	$ 760,269
Default To Claim Rate Detail [Abstract]
Default To Claim Rate Estimate, Gross, For New Defaults		11.00%	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]	$ 7,341		$ 6,816
Default To Claim Rate Detail [Abstract]
Weighted Average Default To Claim Rate Assumption Net Of Denials Rescissions and Reinstatements		43.00%		42.00%
Weighted Average Default To Claim Rate Assumption Excluding Pending Claims Net Of Denials And Rescissions		41.00%		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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Rescissions And Denials [Line Items]
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		$ 651,591	$ 760,269
Mortgage Insurance Segment
Rescissions And Denials [Line Items]
Default To Claim Rate Estimate, Gross, For New Defaults		11.00%	12.00%	12.50%
Decrease To Our Loss Reserves Due To Estimated Rescissions And Denials		$ 25,000	$ 39,000
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount		12,800	14,300
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		651,591	760,269	$ 848,379	$ 976,399
2013 Freddie Mac Agreement [Member]
Rescissions And Denials [Line Items]
Reserve for losses and loss adjustment expense (“LAE”) (Note 10)		57,400
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)	$ 61,000

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	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt		$ 989,010			$ 989,010		$ 1,069,537
Loss on induced conversion and debt extinguishment		$ (1,247)		$ (2,108)	(5,703)	$ (57,678)
Proceeds from termination of capped calls					$ 4,083	$ 0
Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.00%			3.00%
Long-term debt		$ 625			$ 625		20,947
Repayments of Convertible Debt		$ 31,600
Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount			$ 68,000
Debt Instrument, Interest Rate, Stated Percentage		2.25%			2.25%
Long-term debt		$ 0			$ 0		62,013
Debt Instrument, Convertible, Conversion Price		$ 10.60			$ 10.60
Repayments of Convertible Debt	$ 110,100
Loss on induced conversion and debt extinguishment	$ (4,500)		$ (4,500)
Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.50%			5.50%
Long-term debt		$ 297,510			$ 297,510		296,907
Senior Notes Due 2020
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.25%			5.25%
Long-term debt		$ 345,932			$ 345,932		345,308
Senior Notes Due 2021
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.00%			7.00%
Long-term debt		$ 344,943			$ 344,943		344,362
Convertible Debt | Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount		21,600			21,600
Long-term debt		625			625		20,947
Loss on induced conversion and debt extinguishment		(1,200)
Long-term Debt, Gross		642			642		22,233
Convertible Debt | Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Long-term debt		0			0		62,013
Long-term Debt, Gross		$ 0			$ 0		$ 68,024

Note 11 - Long-Term Debt Sche58

Note 11 - Long-Term Debt Schedule of Convertible Debt (Details) - USD ($) $ in Thousands		Jan. 27, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Net carrying amount			$ 989,010		$ 989,010		$ 1,069,537
Equity component of currently redeemable convertible senior notes			16		16		0
Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Repayments of Convertible Debt			31,600
Debt Instrument, Convertible, Carrying Amount of Equity Component			100		100		5,000
Net carrying amount			625		625		20,947
Equity component of currently redeemable convertible senior notes			16		16		0
Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Repayments of Convertible Debt		$ 110,100
Debt Instrument, Convertible, Carrying Amount of Equity Component							13,100
Net carrying amount			0		0		62,013
Equity component of currently redeemable convertible senior notes			0		0		0
Convertible Debt | Convertible Senior Notes Due 2017
Debt Instrument [Line Items]
Principal amount of convertible debt in liabilities			642		642		22,233
Less: Debt discount, net (1)	[1]		(16)		(16)		(1,221)
Less: Debt issuance costs (1)	[1]		(1)		(1)		(65)
Net carrying amount			625		625		20,947
Contractual interest expense (benefit)	[2]		141	$ 167	308	$ 539
Amortization of debt issuance costs			14	17	32	54
Amortization of debt discount			267	314	605	1,022
Total interest expense (benefit)	[2]		422	498	945	1,615
Convertible Debt | Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Principal amount of convertible debt in liabilities			0		0		68,024
Less: Debt discount, net (1)	[1]		0		0		(5,461)
Less: Debt issuance costs (1)	[1]		0		0		(550)
Net carrying amount			0		0		$ 62,013
Contractual interest expense (benefit)	[3]		0	537	(510)	2,550
Amortization of debt issuance costs			0	80	16	373
Amortization of debt discount			0	788	163	3,697
Total interest expense (benefit)	[3]		$ 0	$ 1,405	$ (331)	$ 6,620
[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.
[3]	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)	6 Months Ended
	Jun. 30, 2017matter	Jun. 05, 2017loan	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		8,870	9,420

Note 12 - Commitments and Con60

Note 12 - Commitments and Contingencies Guarantor Obligations (Details) - Indirect Guarantee of Indebtedness [Member] $ in Millions	Jun. 30, 2017USD ($)transaction
Guarantees [Abstract]
Number of Guaranteed Structured Transactions | transaction	2
Guarantor Obligations, Maximum Exposure, Undiscounted | $	$ 104.2

Note 13 - Capital Stock (Detail

Note 13 - Capital Stock (Details) - Second Quarter 2016 Repurchase Program [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2017	Jun. 29, 2016
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 125
Treasury Stock Acquired, Average Cost Per Share	$ 15.59
Stock Repurchased During Period, Shares	380

Note 14 - Accumulated Other C62

Note 14 - Accumulated Other Comprehensive Income Rollforward of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive Income, Net of Tax [Abstract]
AOCI, Net of Tax, beginning balance				$ (12,395)
Unrealized holding gains (losses) arising during the period		$ 20,239	$ 40,297	27,606	$ 79,671
Less: Reclassification adjustment for net gains (losses) included in net income (loss)		(1,167)	758	(2,798)	(1,399)
Net foreign currency translation adjustments		74	(225)	108	(310)
Net actuarial gains (losses)		0	0	0	(178)
Other comprehensive income (loss), net of tax		21,480	39,314	30,512	80,582
AOCI, Net of Tax, ending balance		18,117		18,117
Other Comprehensive Income
Other Comprehensive Income, before Tax [Abstract]
AOCI before Tax, Attributable to Parent, beginning balance		(5,168)	35,064	(19,063)	(28,425)
Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax		31,137	61,996	42,471	122,571
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	[1]	(1,795)	1,166	(4,304)	(2,152)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax		32,932	60,830	46,775	124,723
Net foreign currency translation adjustments, before tax		114	(346)	166	(476)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax			0		(274)
Other comprehensive income, before tax		33,046	60,484	46,941	123,973
AOCI before Tax, Attributable to Parent, ending balance		27,878	95,548	27,878	95,548
Other Comprehensive Income, Tax [Abstract]
AOCI, Tax, beginning balance		(1,805)	12,273	(6,668)	(9,948)
Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax		10,898	21,699	14,865	42,900
Less: Reclassification adjustment for net (losses) gains included in net income, tax	[1]	(628)	408	(1,506)	(753)
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax		11,526	21,291	16,371	43,653
Net foreign currency translation adjustments, tax		40	(121)	58	(166)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax			0		(96)
Other Comprehensive Income, Tax		11,566	21,170	16,429	43,391
AOCI Tax, ending balance		9,761	33,443	9,761	33,443
Other Comprehensive Income, Net of Tax [Abstract]
AOCI, Net of Tax, beginning balance		(3,363)	22,791	(12,395)	(18,477)
Unrealized holding gains (losses) arising during the period		20,239	40,297	27,606	79,671
Less: Reclassification adjustment for net gains (losses) included in net income (loss)	[1]	(1,167)	758	(2,798)	(1,399)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent		21,406	39,539	30,404	81,070
Net foreign currency translation adjustments		74	(225)	108	(310)
Net actuarial gains (losses)			0		(178)
Other comprehensive income (loss), net of tax		21,480	39,314	30,512	80,582
AOCI, Net of Tax, ending balance		$ 18,117	$ 62,105	$ 18,117	$ 62,105
[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	6 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Reportable Subsegments [Member]
Statutory Accounting Practices [Line Items]
Restricted Net Assets Held by Consolidated Subsidiaries		$ 3,300
Radian Guaranty
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance		1,156.1	$ 1,349.7
Statutory Accounting Practices, Statutory Capital and Surplus, Increase (Decrease)	$ (175)
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, Balance		324.4	$ 147.6
Statutory Accounting Practices, Statutory Capital and Surplus, Increase (Decrease)		175
Deferred Tax Assets [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory to GAAP, Amount of Reconciling Item		(30.6)
Leasehold Improvements [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory to GAAP, Amount of Reconciling Item		$ 15.2

Note 15 - Statutory Informati64

Note 15 - Statutory Information Risk To Capital Calculation (Details) $ in Millions		3 Months Ended	6 Months Ended
		Mar. 31, 2017USD ($)	Jun. 30, 2017USD ($)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			$ 324.4	$ 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]		37,374.1	35,357.8
Common stock and paid-in capital			1,866.1	2,041
Unassigned earnings (deficit)			(710)	(691.3)
Statutory policyholders’ surplus			1,156.1	1,349.7
Contingency reserve			1,460.9	1,260.6
Statutory capital			$ 2,617	$ 2,610.3
Risk-to-capital			14.3	13.5
Statutory Accounting Practices, Statutory Net Income Amount			$ 229.8
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.