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Stock Market & Financial Investment News

News Breaks
August 30, 2013
08:57 EDTFMCC, MTG, RDNRadian 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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December 17, 2014
10:50 EDTFMCCAckman says added 'meaningfully' to Freddie, Fannie positions in last week
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December 16, 2014
05:34 EDTMTGMGIC Investment downgraded to Market Perform from Outperform at Keefe Bruyette
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December 15, 2014
08:07 EDTRDNRadian Group says CFO C. Robert Quitn to retire at end of 2014
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December 11, 2014
07:22 EDTRDNAssured Guaranty close to deal to buy Radian unit for $800M, Reuters says
Assured Guaranty (AGO) is close to a deal to buy Radian's (RDN) financial guaranty business for about $800M, Reuters reports, citing sources. A deal could be announced within the next few days, the sources add. Reference Link
December 8, 2014
12:31 EDTFMCCFannie Mae, Freddie Mac to back mortgages with 3% down payments, LA Times says
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07:06 EDTMTGMGIC Investment reports November primary new insurance written $2.9B
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