Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CASALE MARK
   2. Issuer Name and Ticker or Trading Symbol
RADIAN GROUP INC [RDN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice President
(Last)
(First)
(Middle)
RADIAN GROUP INC., 1601 MARKET STREET		 3. Date of Earliest Transaction (Month/Day/Year)
02/07/2006
(Street)

PHILADELPHIA, PA 19103		 4. If Amendment, Date Original Filed(Month/Day/Year)
02/10/2006		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
common stock               2,519 D  
common stock               1,850 I owned by 401K stock fund

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options $ 56.03 02/07/2006   A   17,700   02/07/2007 02/07/2013 Common Stock 17,700 (1) 17,700 D  
Phantom Stock Unit $ 0 (2)             01/02/2007 01/15/2007 Common Stock 4,000   4,000 D  
Dividend Equivalent rights $ 0 (2)             01/01/2007 01/15/2007 Common Stock 1.3906   6.3012 (3) D  
Stock Options $ 48.39             02/08/2006 02/08/2012 Common Stock 5,500   5,500 D  
stock option $ 45.95             02/10/2005 02/10/2014 common stock 9,000   9,000 D  
stock option $ 39.34             08/07/2001 08/07/2011 common stock 10,000   10,000 D  
stock options $ 35.81             11/06/2002 11/06/2011 common stock 5,000   5,000 D  
stock option $ 35.79             01/30/2004 01/30/2013 common stock 10,000   10,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CASALE MARK
RADIAN GROUP INC.
1601 MARKET STREET
PHILADELPHIA, PA 19103		       Senior Vice President  

Signatures

 Howard S. Yaruss /s/ Howard S. Yaruss (power of attorney   02/10/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) n/a
(2) 1 for 1
(3) dividend equivalent calculation amended (error = 0.1468 of a share)

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