Radian is shutting down its mortgage conduit business after a divestiture process, while continuing to explore strategic options for its title and real estate services units, the company confirmed to HousingWire.
The conduit, which operated primarily through Radian Mortgage Capital, focused on buying mortgages in the secondary market from lenders and selling them to investors or into private-label securitizations. The platform could also retain mortgage servicing rights on loans it sells.
“Radian ceased accepting new business for Radian Mortgage Capital early last week and is in the process of thoughtfully winding down the business over the coming months,” Rashi Iyer, senior vice president of corporate communications, said in a statement.
“This decision followed a thorough process to explore divestiture options, and ultimately, we determined that discontinuing operations was in the best interests of our organization, our employees and our customers.”
Iyer said the company is working with customers to support a “smooth and thoughtful conclusion” to the wind-down.
The move follows Radian’s September 2025 disclosure that it planned to divest its “all other business” segment, including Radian Mortgage Capital and its title and real estate services operations, by no later than the third quarter of 2026.
That strategy was part of a broader corporate shift tied to Radian’s $1.7 billion all-cash acquisition of Inigo Limited from Lloyds, a deal that repositions the company from a U.S. mortgage insurer into a global, diversified, multiline specialty insurer.
Radian stressed that the conduit wind-down does not signal a decision on the rest of the segment.
“Regarding our Title and Real Estate Services businesses, we are continuing to pursue strategic options, and the decision to wind down the Mortgage Conduit business does not reflect the outcome or direction for these businesses,” Iyer mentioned.
The company’s board has approved the plan to sell the businesses, and Radian said it is operating them in ordinary course while it evaluates options.
When the divestiture plan was announced, Radian CEO Rick Thornberry said a sale would allow the businesses “to continue to pursue their next phase of growth,” while simplifying Radian as it focuses on building a multiline specialty insurer.
Radian Group received $62 million in distributions from businesses held for sale during the fourth quarter of 2025. As of December, the company had about 900 employees, including roughly 300 supporting the businesses held for sale, according to Securities and Exchange Commission (SEC) filings.
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