Radian Shuts Down Mortgage Conduit Business, Refocuses On Insurance Strategy

Radian Group has ceased accepting new business for its mortgage conduit platform and will wind down the unit over the coming months. The company determined that discontinuing the operation was preferable to selling it, according to company statements.

The conduit, which operated primarily through Radian Mortgage Capital, bought mortgages from lenders in the secondary market. It then sold these to investors or into private-label securitizations, sometimes retaining mortgage servicing rights on those loans.

"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," a company spokesperson said in a statement. The company said the decision followed a process to explore divestiture options and concluded that discontinuing the operation was the best outcome for the firm and its stakeholders.

The shutdown occurs amid a broader corporate shift at the Philadelphia-area firm. In September 2025, Radian announced plans to divest its “all other business” segment — including the conduit and title and real estate services units. This move repositions the company around mortgage insurance and specialty insurance.

That strategic pivot accelerated following Radian’s $1.7 billion all-cash acquisition of specialty insurer Inigo Limited from Lloyds. This deal intends to transform the company into a global, diversified, multiline specialty insurer.

Radian emphasized that the decision to wind down the conduit does not determine the fate of its other non-insurance units. The company continues to evaluate strategic options for its title and real estate services businesses while operating them in the normal course of business.

The company is currently working with customers and investor partners to wind down the conduit business and sell existing loan inventory as it closes out the platform’s remaining pipeline.