Radian Group has appointed Teresa Bryce as president of Radian Guaranty, the company¬ís mortgage insurance subsidiary, according to a release from the company.

Bryce is the current executive vice president, general counsel corporate secretary and chief risk officer for Radian, and will acquire her new role in the mortgage branch effective immediately.

The new appointee will report to S.A. Ibrahim, president and chief executive officer of Radian.  David Applegate, whom Bryce will replace, has resigned form his position but will remain with Radian as a consultant for the foreseeable future.

Additionally, Radian has made other changes: current vice chairman of Radian Guaranty Paul Bognanno will become chairman of this subsidiary; current senior vice president of mortgage insurance sales Jeff Cashmer will become chief operating officer of Radian Guaranty; and current senior vice president of assistant general counsel Ted Hoffman will become general counsel and corporate secretary for Radian.

Bognanno and Hoffman will report to  Ibrahim, while Cashmer will report to Bryce.

Before joining Radian in 2006, Bryce served as general counsel, senior vice president and secretary for Nexstar Financial Corp. Before that, she was general counsel for Bank of America Mortgage and held other senior legal leadership roles for PNC Mortgage Corp. and Prudential Home Mortgage Co.

Before his stint at Radian Guaranty, Bognanno was president and CEO of Principal Residential Mortgage for 11 years as well as a senior vice president in Principal Life Insurance Co. and chairman of the board of Principal Bank.

Since joining Radian in 1998 from Household Finance Corp., Cashmer has held several key roles within the company's sales, operations, capital markets, credit risk, product development and strategic planning groups.

Prior to joining Radian, Hoffman was a senior associate in the corporate and securities group of Drinker Biddle & Reath in Philadelphia.

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