Radian extends mortgage repurchase facility termination to Sept 2024

RADIAN GROUP INC

Mortgage repurchase facility size remains $100M (previously reduced from $300M) on an uncommitted basis.
Termination date extended from Nov 14, 2023 to Sep 14, 2024 via Amendment No. 3.
Parent Guaranty (Radian Group Inc.) and RMC Guaranty remain unchanged; RMC reaffirmed its obligations.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RADIAN GROUP INC amended Goldman MRA Amendment No. 3 with Goldman Sachs Bank USA (effective 2023-10-27).

Action: amendment
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA
Effective: 2023-10-27

Exact text from the filing

On October 27, 2023, RMC, Liberty and Goldman entered into Amendment No. 3 to the MRA (the “Goldman MRA Amendment No. 3”) to extend the MRA termination date from November 14, 2023 to September 14, 2024.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

RADIAN GROUP INC entered into Master Repurchase Agreement with Goldman Sachs Bank USA valued at $300 million (effective 2022-07-15).

Action: entry
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA
Value: $300 million
Effective: 2022-07-15

Exact text from the filing

on July 15, 2022, Radian Group Inc. (the “Company”) entered into a Guaranty Agreement (the “Parent Guaranty”) in favor of Goldman Sachs Bank USA (“Goldman”) to guaranty the obligations of its subsidiary Radian Mortgage Capital LLC ( “RMC”) and RMC’s wholly-owned subsidiary Radian Liberty Funding LLC (“Liberty”) in connection with a $300 million mortgage loan repurchase facility that RMC and Liberty entered into with Goldman pursuant to that certain Master Repurchase Agreement (the “MRA”), dated July 15, 2022, among Liberty, Goldman and RMC (the “Mortgage Financing Facility”).

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RADIAN GROUP INC filing history →

Source: SEC EDGAR

accession 0001193125-23-269412

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