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Stock Market & Financial Investment News

News Breaks
August 30, 2013
08:57 EDTRDN, FMCC, MTGRadian rises after striking deal with Freddie Mac
Shares of Radian Group (RDN) are trading higher in the pre-market session after its mortgage insurance subsidiary, Radian Guaranty, announced an agreement with Freddie Mac (FMCC) regarding a group of delinquent mortgage loans held by Freddie Mac that were insured by the Radian unit. WHAT'S NOTABLE: The agreement, which covers 25,760 first-lien mortgage loans that were delinquent as of December 31, 2011, caps Radian Guaranty’s total exposure on this group of loans to $840M. Radian Guaranty paid approximately $255M to Freddie Mac to cover claim exposure on these loans, and had previously paid $370M of claims on these loans. Radian said it expects to record an incurred loss of approximately $20M in its fiscal third quarter in connection with the deal. PRICE ACTION: Shares of Radian were up nearly 7% to trade above $14 in the pre-market session. OTHER'S TO WATCH: MGIC Investment (MTG), which is also a private mortgage insurer, was up nearly 4% in pre-market trading.
News For RDN;MTG;FMCC From The Last 14 Days
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March 4, 2015
10:01 EDTMTG, RDNOn The Fly: Analyst Initiation Summary
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06:03 EDTMTGMGIC Investment initiated with a Buy at MKM Partners
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06:03 EDTRDNRadian Group initiated with a Buy at MKM Partners
Target $22.
March 3, 2015
09:55 EDTFMCCFreddie Mac announces successful sale of 1,975 non-performing loans
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06:52 EDTFMCCFHFA announces new rules for sales of Freddie Mac, Fannie Mae loans
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February 24, 2015
07:12 EDTFMCCWells Fargo to hold a conference
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February 23, 2015
08:52 EDTMTGBarclays remains bullish on MGIC Investment
Following a headquarters visit, Barclays said it remains bullish on MGIC Investment. The analyst expects a supercycle in mortgage credit losses that could result in incurred losses of approximately 10% of premiums, driving shares to potentially $14. Barclays sees limited downside risk and reiterates its Overweight rating.
08:07 EDTRDNRadian Group names Clifford Rossi as Chief Economist
Radian Group announced the appointment of Dr. Clifford Rossi as senior VP and chief economist. In this position, Dr. Rossi is responsible for research, forecasts, quantitative analysis and financial modeling of Radian’s mortgage insurance portfolio and the housing and mortgage markets.

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