Bazemore to Retire From Radian Guaranty in April

Alex Lowy

Teresa Bryce Bazemore, the president of Radian Guaranty, will retire from the private mortgage insurer at the end of April.

"Teresa has decided that now is the right time for her to consider new opportunities and challenges," according to a memo sent on Thursday by S.A. Ibrahim, CEO of Radian Group.

Bazemore joined Radian Group in 2006 as executive vice president and general counsel. In 2008 she became president of the mortgage insurance subsidiary.

Under her stewardship Radian Guaranty leapfrogged Mortgage Guaranty Insurance Corp. and is now the second largest private mortgage insurer as measured by insurance-in-force, with Arch U.S. MI now occupying the top spot following its purchase of United Guaranty Corp.

"She is recognized locally and nationally for having her finger on the pulse of critical issues facing our industry, as well as a tremendous skill set and thoughtful leadership," Ibrahim said in his letter.

Last May, Ibrahim announced he will be retiring from Radian this year. Richard Thornberry, former president and chief operating officer at Citicorp Mortgage, was named as his replacement two weeks ago.

"We have an outstanding senior team that is focused on realizing the benefits of our strategies for growing our core mortgage insurance business and on diversifying our revenue through mortgage and real estate services. In the coming years, we will continue to deliver long-term value for all our stakeholders.

"I know this may feel like a lot of change. But, I truly believe in the company's exciting future and know that some of Radian's best days lie ahead," Ibrahim said in the memo.