– USA, VA – Radian Group Inc. (NYSE:RDN) announced today the addition of Debra Hess and Dave Stevens to its Board of Directors and the future retirement of Steve Hopkin upon completion of his current term.
Steve Hopkins, a director of Radian since 1999, intends to retire from the Board following completion of his current term at the Company’s 2019 Annual Meeting of Stockholders. He has served as the Chairman of Radian’s Compensation and Human Resources Committee since 2002, and also currently serves as a member of the Board’s Governance Committee and Finance and Investment Committee.
“Radian has been extremely fortunate to have benefited from the service of Steve for two decades,” said Wender. “His experience, leadership and knowledge of the mortgage insurance industry has been invaluable, and on behalf of the company I wish him well in his retirement.”
Debra Hess, former CFO of NorthStar Asset Management Group and NorthStar Realty Finance Corp., and David H. Stevens, former president and CEO of the Mortgage Bankers Association (MBA), have joined Radian’s Board of Directors. They were nominated for election to the board following a comprehensive search process conducted by the board’s Governance Committee.
“Radian is pleased to have Debra and Dave join our Board of Directors,” said Radian’s Chairman Herb Wender. “Their leadership, strategic insight and depth of experience in the mortgage and real estate industries and government affairs will help strengthen Radian’s position as a market-leading residential mortgage and real estate services enterprise. The addition of two highly qualified directors with skills that complement our strategic focus reinforces our commitment to strong corporate governance and enhancing stockholder value.”
“Radian has a strong, independent Board of Directors composed of proven leaders in mortgage banking, real estate, government, business operations, and capital and secondary markets,” said Radian’s Chief Executive Officer Rick Thornberry. “The addition of Debra and Dave will further strengthen our Board and provide us with valuable insight and guidance to execute our strategic plan for strong growth, value creation and stockholder returns.”
About Debra Hess
Debra Hess served as the chief financial officer of NorthStar Asset Management Group and NorthStar Realty Finance Corp. from 2011 until 2017 when both NorthStar companies merged with Colony Capital to form Colony NorthStar, Inc. the fifth largest global real estate management company. Prior to her role with NorthStar, Hess was a managing director of Fortress Investment Group where she also served as CFO of Newcastle Investment Group, a mortgage REIT managed by Fortress and CFO of H/2 Capital Partners. She also previously held various positions at Goldman Sachs & Company, Chemical Banking Corporation, and Arthur Anderson & Company. Hess serves on the boards of AG Mortgage Investment Trust, Inc., a publicly traded company, and CenterPoint Properties Trust.
About David H. Stevens
David H. Stevens joined the MBA in 2011 and retired as president and CEO in September 2018. MBA, headquartered in Washington, D.C., is the national association that represents the real estate finance industry and works to strengthen the nation’s residential and commercial real estate markets, expand homeownership, and improve access to affordable housing. Prior to his position with MBA, Stevens served the Obama Administration and, after being confirmed by the U.S. Senate, served as Assistant Secretary of Housing and Federal Housing Commissioner until 2011. Before his government role, Stevens held the position of President and Chief Operating Officer of the Long & Foster Companies, including the core real estate company and all affiliated businesses of mortgage, settlement services and insurance. With more than 30 years of experience in mortgage finance, he has held executive level positions in sales, acquisition, investment, risk management and regulatory oversight for organizations including Wells Fargo, Freddie Mac, and World Savings. Stevens serves on the board of Dynex Capital, Inc., a publicly traded internally managed real estate investment trust which invests in mortgage assets on a leveraged basis. In addition, he is senior advisor to Mortgage Media and is currently focused on advisory efforts in real estate finance and providing technical and strategic consultation to financial institutions and intermediaries.
Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate, and title services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk.
For more visit www.radian.com
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