EXHIBIT 11

Radian Group Inc.

Schedule of Net (Loss) Income per Share

	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands, except per-share amounts and market prices)	2012			2011		2012			2011
Net (loss) income	$	(119,259	)	$	137,115	$	(288,491	)	$	240,121
Average diluted stock options outstanding	—			1,030		—			1,030
Average exercise price per share	$	—		$	3.10	$	—		$	3.10
Average market price per share—diluted basis	$	—		$	5.09	$	—		$	6.29
Average common shares outstanding	132,346			132,185		132,350			132,185
Increase in shares due to potential exercise of common stock equivalents—diluted basis (1)	—			1,429		—			1,539
Adjusted shares outstanding—diluted	132,346			133,614		132,350			133,724
Net (loss) income per share—basic	$	(0.90	)	$	1.04	$	(2.18	)	$	1.82
Net (loss) income per share—diluted	$	(0.90	)	$	1.03	$	(2.18	)	$	1.80

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(1) As a result of our net loss for the three and six months ended June 30, 2012, 5,964,726 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net loss per share as of such date because they were anti-dilutive. For the three and six months ended June 30, 2011, 3,268,525 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net income per share as of such date because they were anti-dilutive.