Radian Group's net income for the third quarter was $ 126.4 million, down from $ 155.2 million in the previous quarter and $ 135.1 million last year.
The NAV for the third quarter was 26.6 billion, 22.9% in the second quarter and 29.5% in the third quarter of 2020.
For the full year, Gilbert expects the NAV to decline 14% in 2021 and 4% in 2022.
The non-MI business, the homegenius segment, which includes titles, valuation, asset management, software-as-a-service, and other real estate services, had an adjusted pre-tax operating loss of $ 5.6 million, an improvement over that Loss in the second quarter of $ 9.2 million, but slightly higher than the loss of $ 5 million for the third quarter of 2020.
Segment revenue was $ 45.1 million for the third quarter compared to $ 33.5 million in the second quarter and $ 29.8 million in the third quarter of 2020 due to the increase in net earned Title rewards and service revenue attributable to the title and asset management business.
"If this segment continues to follow management's revenue guidance, we believe it will be another avenue for the multiple expansion of Radian shares," Johnson said in his report.