Radian Group Inc. RDN recently announced extended integration with Accenture PLC ACN-owned company, Mortgage Cadence. This will help integrate title and settlement services within the Mortgage Cadence Platform.
Ownership and settlement services are provided by Radian Settlement Services Inc., which is an indirect subsidiary of the Radian Group.
This integration with Radian will enable Mortgage Cadence clients to benefit from a wide range of insured and uninsured title and settlement services provided by Radian Group and its subsidiaries through the Mortgage Cadence Collaboration Center. The Collaboration Center ensures the smooth operation of mortgage lenders.
In addition, Mortgage Cadence clients will benefit from industry-leading mortgage insurance services from a diversified insurance company.
Radian’s real estate business is primarily based on digital products and services as well as digital solutions. This segment offers a wide range of services including title insurance, title insurance, and closing and settlement services offered primarily to mortgage lenders.
The move comes in tandem with Radian’s continued focus on digital solutions to support mortgage and real estate transactions for its clients and borrowers. The company remains focused on improving its mortgage insurance portfolio as well as making strategic investments in owned businesses and digital real estate to drive long-term revenue growth. Radian currently estimates the private mortgage insurance market to be between $ 550 billion and $ 600 billion in 2021, making it the second largest mortgage insurance market in history. Thus, the company is still willing to capitalize on this opportunity.
Further addition of title and settlement services to the prevailing mortgage insurance offerings on the Mortgage Cadence Platform should improve the electronic transmission of data and reports.
Shares in insurer Zacks Rank # 3 (Hold) were up 49.2% year-on-year, surpassing industry gains by 36.8%.
Image source: Zacks Investment Research
Some of the higher ranked players in the multiline insurance industry are: MetLife, Inc. MET and Old Republic International Corporation ORIs, each with a Zacks Rank # 2 (Purchase). You can see the full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.
MetLife surpassed estimates in three of the past four quarters and lost in one, with an average score of 18.16%.
The Old Republic beat estimates in each of the past four quarters, with an average surprise profit of 53.01%.
Sachs called “the single best choice for doubling”
Out of thousands of stocks, 5 experts each Zacks have chosen their favorite, which will grow by 100% or more in the coming months. Research Director Sheraz Mian selects one of the five that has the most explosive potential.
You know this company from its glorious past, but few would expect it to be ready for a monstrous turn. Just after successfully repositioning and supporting A-list celebrities, it may rival or outperform other recent Zacks stocks that have doubled, such as the Boston Beer Company, which surged 143.0% in a little over 9 months, and Nvidia, which surged. + 175.9% in a year.
Free: Check out our top promotions and 4 runners-up >>
Looking for the latest recommendations from Zacks Investment Research? Today you can download the top 7 stocks for the next 30 days. Click to get this free report