is the financial adviser on the sale of Radian
said that the agreement also caps Radian
Guaranty's total exposure on this group of loans, including loans that are currently re-performing, to USD 840m.
has taken steps to improve its capital levels -including selling some Radian
Asset portfolios to bond insurer Assured Guaranty and reinsurance deals.
This partnership allows Radian
and NYLX customers to streamline processes and enhance profitability and growth," added Cashmer.
Immediately following the acquisition, AGC will merge with Radian
Asset, with AGC as the surviving company.
In the past, Radian
and other private mortgage insurers entered into captive arrangements under which affiliates of mortgage lenders reinsured a portion of the risk originated by the lenders in return for a portion of the mortgage insurance premiums that would have been paid to the firm.
has received waivers from regulators and counterparties, Moody's notes, adding that most of Radian
's peers have already breached the 25-to-1 threshold.
also announced a partnership with Consumer Credit Counseling Service of Delaware Valley (CCCS), Philadelphia, that will provide education, customized assistance and a method of direct communication between borrowers and servicers using the Radian
Fast Advance program.
Backed by the company's published rates and guidelines, Radian
Rates was designed for users to check eligibility and compare options to find the product that best fits their needs.
The order, issued June 19, 2002, prohibits Radian
from marketing and issuing any insurance policy providing coverage for undisclosed liens, since such coverage constitutes title insurance, according to the California Insurance Code.