Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

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Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
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Lending

S&P: Radian's rating unaffected by repurchase of outstanding debt

Standard & Poor's 'B' rating on Radian (RDN) remains unaffected by the mortgage insurer's announcement that it will issue a tender offer to repurchase outstanding debt that matures in 2013.

The insurer posted a loss of $121.5 million, or 92 cents a share, in the fourth quarter, which is improved from the company's loss of $1.1 billion a year earlier.

While S&P is keeping the insurer's ratings the same, the ratings giant said Radian's 2011 operating performance failed to meet S&P's expectations, and the insurer's loan delinquency inventory remains high despite some improvements last year.

"We remain concerned with the potential for adverse reserve development if macroeconomic conditions remain weak," S&P said. "However, the current ratings contemplate continued losses through 2012 with a trajectory toward break-even operating results by the end of 2013 due to improving notice of delinquencies trends."

kpanchuk@housingwire.com.

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