Radian Group Names New Mortgage Unit President
On Monday, mortgage and bond insurer Radian Group named Teresa Bryce as president of its mortgage insurance unit. Bryce will be replacing David Applegate, and she is expected to eventually win back an "AA"-level rating for Radian Guaranty, the company said. Earlier this year, Standard & Poor's and Moody's Investors Service cut Radian Guaranty's ratings.
Bryce, currently the company's general counsel and chief risk officer, will report directly to Chief Executive S.A. Ibrahim, according to a statement.
Applegate will continue to provide consulting services to Radian Guaranty, the company said.
Published on July 8, 2008
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