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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 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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April 8, 2014
08:04 EDTRDNRadian Guaranty reports delinquencies fell to 53,119 in March
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07:03 EDTMTGMGIC Investment reports March primary new insurance written $2B
MGIC Investment reported March ending primary delinquent inventory of 91,842 loans, down from a beginning primary delinquent inventory of 97,588 loans.
April 4, 2014
07:27 EDTFMCCEx-U.S. regulator says investors of Fannie, Freddie stand to lose, Reuters says
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