Radian Group Inc, the biggest U.S. private mortgage insurer, said it would purchase loan review firm Clayton Holdings LLC for $305 million to boost its presence in the industry.Shares of Radian, which also reported a profit compared with a loss a year earlier, rose 3 percent after the bell on Tuesday.Clayton provides loan due diligence, transaction management and risk-based analytical services to the mortgage industry in the United States.The deal, Radian's first major acquisition in seven years, is expected to modestly add to its earnings this year.
Radian Group Inc. (Radian Group) is a credit enhancement company with a primary strategic focus on domestic residential mortgage insurance on first-lien loans (first-lien). Shares of RDN fell by 1.75% or $-0.25/share to $14.05. In the past year, the shares have traded as low as $10.86 and as high as $16.24. On average, 2800880 shares of RDN exchange hands on a given day and today's volume is recorded at 3595083.
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