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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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April 23, 2014
10:56 EDTMTGOptions with decreasing implied volatility: CMG MTG VRX ILMN
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April 22, 2014
07:10 EDTMTGMGIC Investment reports Q1 EPS 15c, consensus 10c
Reports Q1 revenue $235.1M, consensus $241.01M; Reports primary insurance in force as of March 31 was $157.9B; Reports new insurance written in Q1 was $5.2B.
April 11, 2014
07:47 EDTFMCCDeutsche granted dismissal of FHFA suit, Reuters says
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April 10, 2014
08:29 EDTFMCCFannie, Freddie holders create 'Investors Unite' to fight reform, Reuters says
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