Items Tagged with 'Radian Guaranty Inc.'

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  • Radian Plans Effort to Restore Profitabilty to MI Subsidiary

    After watching its mortgage insurance arm's rating cut to A from AA- earlier this month, Radian Group Inc. [stock RDN][/stock] said Monday that it will work to "restore profitability and a AA rating" to its MI business, Radian Guaranty Inc. The commitment comes after the insurer submitted its remediation plan to both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] ahead of schedule, it said in a press statement.
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  • Radian Unveils Partial Claim Advance Program for Servicers

    Radian Guaranty said Thursday that it had launched Radian FastAdvance, a program that provides quick, partial claims advances to residential mortgage servicers -- enabling residential mortgage servicers to more easily work with distressed borrowers by modifying the terms of a loan, such as a rate reduction, or by structuring a customized repayment plan.
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  • PMI Nabs Radian's Ballard

    The PMI Group, Inc. said Monday that it had hired Jon Ballard as vice president of field servicing, where he will oversee homeownership preservation and loss-mitigation activites at the company. "PMI is committed to being a market leader in preserving home ownership, customer service and loss mitigation. Hiring an executive like Jon, with twenty five years of experience in the mortgage banking industry, is an important part in fulfilling that commitment," said Gene Campion, a senior vice president at PMI.
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  • Fitch Warns of Likely Downgrades to Nearly Every Major Mortgage Insurer

    Fitch Ratings, in a move likely presaging pending downgrades, said Monday (registration req'd) that it had placed nearly every major mortgage insurer on negative ratings watch. In particular, Mortgage Guaranty Insurance Corp., PMI Mortgage Insurance Co. and Radian Guaranty Inc. saw their insurer financial strength ratings affected, while Genworth Mortgage Insurance Corp. and its affliates were the only major insurer to have ratings affirmed.
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  • Fitch: MGIC Lands on Rating Watch Negative

    As details of a MGIC/Radian merger continue to emerge, Fitch Ratings said yesterday that it had placed the 'AA+' insurer financial strength (IFS) ratings of Mortgage Guaranty Insurance Corporation (MGIC) and the 'A+' senior debt rating of MGIC Investment Corporation (MGIC Investment) on Rating Watch Negative as a result of the announced merger plan between MGIC Investment and The Radian Group Inc. While stressing the positive potential outcome of a merger, Fitch said its ratings action reflected an increase MGIC's risk profile relative to historical norms.
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