The mortgage insurer had already paid $370M and paid about $255M to Freddie upon the agreement - another $205M has been deposited into a collateral account to cover any further losses.
"One of our top priorities for our mortgage insurance business is to actively reduce our legacy exposure," says Radian CEO S.A. Ibrahim, noting the agreement reduces total primary loans by 12.6%.Sponsor Content
Radian strikes a deal with Freddie Mac
Reduces insurance exposure on delinquent mortgages
Source: Seeking Alpha