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Stock Market & Financial Investment News

News Breaks
August 30, 2013
08:57 EDTRDN, MTG, FMCCRadian 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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August 22, 2014
17:18 EDTFMCCGoldman Sachs announces agreements with FHFA to repurchase $3.15B in RMBS
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August 20, 2014
09:03 EDTFMCCSpread of unrest beyond Ferguson would be positive for GSEs, says Rafferty
Rafferty Capital's Dick Bove indicates that he believes that if the unrest in Ferguson spreads, Congress would increase housing subsidies, benefiting the GSEs, Fannie Mae (FNMA) and Freddie Mac (FMCC).
August 15, 2014
07:44 EDTFMCCAckman sues government over Fannie, Freddie, Reuters reports
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August 14, 2014
11:44 EDTRDNSenator Investment Group reports 6.28% passive stake in Radian Group
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August 11, 2014
15:27 EDTMTGSusquehanna to hold a forum
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06:57 EDTMTGUBS to hold a conference
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