Lightyear Capital

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Triad, Lightyear in Talks to Create New Mortgage Insurer

May 02, 2008By

(Update 1: adds Fitch Ratings downgrade to junk) Triad Guaranty Inc. [stock TGIC][/stock] said Friday that it has entered into exclusive negotiations with Lightyear Capital LLC, a New York-based private equity firm, to create a new monoline mortgage insurance company. Triad CEO Mark Tonneson said on April 11 that the company would look to clone itself in the wake of a recent ratings downgrade, establishing a new mortgage insurer and putting its existing MI portfolio into run-off.

3d rendering of a row of luxury townhouses along a street

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