8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported)     JULY 16, 2002
                                                     -------------

                                RADIAN GROUP INC.
                                -----------------
             (Exact name of registrant as specified in its Charter)

DELAWARE                                 1-11356                23-2691170
- --------                            ----------------            ----------
(State or other jurisdiction of     (Commission File         (I.R.S. Employer
incorporation or organization)           Number)            Identification No.)

1601 MARKET STREET, PHILADELPHIA, PA                                19103
- ------------------------------------                                -----
(Address of principal executive offices)                          (zip code)

                                 (215) 564-6600
                                 --------------
              (Registrant's telephone number, including area code)



                     ---------------------------------------
          (Former name or former address, if changed since last report)








ITEM 5.  OTHER EVENTS


On July 16, 2002, Radian Group Inc. ("Radian") announced that it has called for
redemption on August 15, 2002 all of the 800,000 outstanding shares of its
$4.125 Preferred Stock, par value $.001 per share (the "Preferred Stock"),
72,000 shares of which are subject to a sinking fund redemption obligation on
August 15, 2002. Accordingly, on August 15, 2002, Radian will redeem 72,000
shares of Preferred Stock at a price of $50.00 per share and the remaining
728,000 shares of Preferred Stock at a price of $54.125 per share, plus in each
case an amount representing accrued and unpaid dividends on the shares to the
date of redemption. All of the Preferred Stock is held by Commonwealth Land
Title Insurance Company.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(c)      Exhibit

         99       Press Release of Radian Group Inc. dated July 16, 2002.

EX-99

                                                                   EXHIBIT 99

CONTACT:
Emily Riley - phone: 215 564.6600, ext. 3328
              email: emily.riley@radianmi.com


RADIAN ISSUES NOTICE OF REDEMPTION FOR PREFERRED STOCK

PHILADELPHIA, Pa., July 16, 2002-- Radian Group Inc. (NYSE: RDN) today issued a
notice of redemption for the company's $4.125 Preferred Stock, par value $.001
per share.

The notice calls for the redemption of all 800,000 outstanding shares of
Radian's preferred stock on August 15, 2002. Pursuant to the company's sinking
fund redemption obligation, 72,000 shares will be redeemed at $50.00 per share,
and the remaining 728,000 shares will be redeemed at $54.125 per share. Accrued
and unpaid dividends on the shares to the date of redemption will also be paid
as part of the redemption price.

Radian Group Inc. is a leading credit enhancement provider to the global
financial and capital markets, headquartered in Philadelphia. Radian's
subsidiaries provide products and services through three business lines:
financial guaranty, mortgage insurance and mortgage services. Additional
information may be found at www.radiangroupinc.com.



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