New CEO Mike Weinbach takes over as Radian pushes deeper into specialty insurance after closing the Inigo acquisition. The former Mr. Cooper and Wells Fargo executive inherits a company reshaping its mix of mortgage and specialty underwriting.
Radian Group has installed Mike Weinbach as chief executive officer and board member, replacing Rick Thornberry who shifts to a strategic advisor role through his retirement at year-end 2026.
The succession was teed up in May, when the board named Weinbach CEO-elect. The transition closes a nine-year tenure for Thornberry, who oversaw Radian's pivot from a pure mortgage insurer toward a broader specialty underwriting platform.
Weinbach takes the helm at a moment of structural change. Radian closed its acquisition of Lloyd's specialty insurer Inigo Limited in February, pairing it with its mortgage insurance unit. The company has also been shedding non-core operations to sharpen focus on those two lines.
"Mike is an accomplished leader whose experience, strategic judgment and deep financial services expertise make him well suited to lead Radian through this next phase of growth," Howard Culang, Radian's non-executive chair, said in a statement.
Weinbach's background sits squarely in that intersection of mortgage, data and technology. He spent the last several years at Mr. Cooper Group, leading the mortgage servicer through its 2025 sale to Rocket Companies while pushing technology upgrades across servicing and origination. Before that, he ran consumer lending at Wells Fargo, overseeing home, auto, student and personal lending along with credit cards and merchant services. Earlier, he spent 16 years at JPMorgan Chase, rising to CEO of Chase Home Lending.
Radian shares trade on the New York Stock Exchange under the ticker RDN. The stock is down about 12% this year through Friday's close, roughly in line with broader weakness among mortgage insurers as elevated interest rates pressure origination volumes.
Weinbach said his confidence in Radian's prospects "has only grown as I have spent time with our talented team and seen firsthand our differentiated approach to delivering value for customers, stockholders and other stakeholders."
Culang thanked Thornberry for "his outstanding leadership over his nine years as CEO. His accomplishments and contributions will leave a lasting legacy."
Thornberry's strategic advisor role runs through Dec. 31, 2026.
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