Radian Group Inc.
has announced its acquisition of Five Bridges Advisors LLC, a developer of proprietary software, data analytics and predictive models leveraging artificial intelligence, machine learning and traditional econometric techniques. The financial terms of the transaction were not disclosed.
According to a statement from the Philadelphia-based Radian Group, Five Bridges was sought out because it is a “thought leader in mortgage, consumer and real estate analytics and its cloud-based portal utilizes deep analytics to provide customers with valuation and risk management tools that span the entire loan lifecycle, from underwriting and origination to servicing, secondary market purchase, and securitization.” Five Bridges will operate under its current brand from its offices in Bethesda, Md, and company co-founders Steve Gaenzler and Michael Youngblood will both continue with the business.
“We are delighted to welcome Five Bridges to the Radian family of companies, expanding our capabilities and providing our customers across the country with new levels of service and innovation across the residential mortgage and real estate spectrum,” said Radian Chief Executive Officer Rick Thornberry. “This acquisition is another example of how Radian is reengineering and revolutionizing existing industry business models to enhance the overall value proposition for our customers.”