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 *
QUINT C ROBERT
   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)
Executive VP and CFO
(Last)
(First)
(Middle)
RADIAN GROUP INC., 1601 MARKET STREET		 3. Date of Earliest Transaction (Month/Day/Year)
12/04/2006
(Street)

PHILADELPHIA, PA 19103		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 12/04/2006   M   10,000 A $ 16.25 42,727 D  
Common Stock 12/04/2006   S   10,000 (7) D $ 53.44 32,727 D  
Common Stock               7,500 (1) I 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 option $ 56.03             02/07/2007 02/07/2013 common stock 15,300   15,300 D  
Dividend Equivalent (5) $ 0             01/01/2007(5) 01/15/2007 Common Stock 3.4765 (5) (6)   15.753 (5) (6) D  
Phantom Stock Unit (4) $ 0 (3)             01/01/2007 01/15/2007 Common Stock 10,000   10,000 D  
stock option $ 48.39             02/08/2006 02/08/2012 common stock 12,700   12,700 D  
stock option $ 45.95             02/10/2005 02/10/2014 common stock 20,000   20,000 D  
Stock Option $ 16.25 12/04/2006   M     10,000 01/21/1999 01/21/2007 Commoon Stock 10,000 (2) 10,000 D  
Stock Option $ 26.4688             12/02/1999 12/02/2007 Commoon Stock 23,000   23,000 D  
Stock Option $ 20.3125             01/19/2001 01/19/2009 Common Stock 32,000   32,000 D  
Stock Option $ 21.0313             01/18/2002 01/18/2010 Common Stock 34,000   34,000 D  
Stock Option $ 27.1875             01/22/2002 01/22/2011 Common Stock 40,000   40,000 D  
Stock Option $ 35.81             11/06/2002 11/06/2011 Common Stock 29,970   29,970 D  
Stock Option $ 35.79             01/30/2004 01/30/2013 Common Stock 30,000   30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
QUINT C ROBERT
RADIAN GROUP INC.
1601 MARKET STREET
PHILADELPHIA, PA 19103		       Executive VP and CFO  

Signatures

 C. Robert Quint   12/04/2006
**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) Represents current holdings in the Radian Group 401K stock fund. This number has been updated to reflect the current balance. This number is approximate due to the nature of the stock fund and the amount of cash vs. stock owned by the fund.
(2) N/A
(3) 1-for-1
(4) Grant made pursuant to a Retention Agreement entered into between the Company and Mr. Quint. The terms of the Retention Agreement were filed in an 8-K on February 14, 2005.
(5) dividend equivalent rights accrued on phantom stock units and become exercisable proportionately with the options to which they relate.
(6) dividend equivalent calculation amended (error = 0.3670 of a shares)
(7) shares sold pursuant to a 10b5-1 Trading Plan

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