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Radian Group Inc

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BUSINESS
February 7, 2007 | From Bloomberg News
MGIC Investment Corp., the largest U.S. mortgage insurer, will buy No. 3 Radian Group Inc. for $4.9 billion in stock as the market for protection against home-loan defaults stagnates. Milwaukee-based MGIC agreed to exchange 0.9658 of a share of its stock for each share of Philadelphia-based Radian, paying no premium to Radian's $61.28 closing share price Friday, the two companies said.
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BUSINESS
September 6, 2007 | From the Associated Press
Mortgage insurer MGIC Investment Corp. and rival Radian Group Inc. said Wednesday that they were abandoning plans to combine the companies, citing troubles in the mortgage industry. MGIC, based in Milwaukee, had agreed in February to pay about $5 billion in stock for Radian, but the deal's value tumbled along with MGIC's share price as problems mounted in the mortgage market.
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BUSINESS
September 6, 2007 | From the Associated Press
Mortgage insurer MGIC Investment Corp. and rival Radian Group Inc. said Wednesday that they were abandoning plans to combine the companies, citing troubles in the mortgage industry. MGIC, based in Milwaukee, had agreed in February to pay about $5 billion in stock for Radian, but the deal's value tumbled along with MGIC's share price as problems mounted in the mortgage market.
BUSINESS
February 7, 2007 | From Bloomberg News
MGIC Investment Corp., the largest U.S. mortgage insurer, will buy No. 3 Radian Group Inc. for $4.9 billion in stock as the market for protection against home-loan defaults stagnates. Milwaukee-based MGIC agreed to exchange 0.9658 of a share of its stock for each share of Philadelphia-based Radian, paying no premium to Radian's $61.28 closing share price Friday, the two companies said.
BUSINESS
April 1, 2008 | From Reuters
Defaults on privately insured U.S. mortgages rose 38.1% in February, as a growing number of homeowners failed to keep up with their loan payments. The Mortgage Insurance Cos. of America, a trade group, said Monday that 60,911 insured borrowers were at least 60 days late on payments in February. That is up from 44,111 a year earlier, but down 11.7% from January's record 68,950.
BUSINESS
January 10, 2008 | From Times Wire Services
MBIA Inc., the giant bond insurer hobbled by the sub-prime mortgage market's collapse, said Wednesday that it would cut its dividend 62% and raise $1 billion in a sale of notes to boost capital and preserve its AAA credit rating. The announcement drove the firm's shares to their lowest level in 16 years in early trading. But the stock recouped most of the day's loss later in the session, after an official at Warren Buffett's Berkshire Hathaway Inc. said the company might throw a lifeline to struggling bond insurers.
BUSINESS
July 29, 2003 | From Times Wire Reports
Merrill Lynch & Co., Charles Schwab Corp. and dozens of other U.S. brokers that buy extra insurance to protect client assets from bankruptcy are losing the coverage because insurers say it's too risky. Travelers Property Casualty Corp., American International Group Inc. and Radian Group Inc., the only U.S. insurers that protect brokerage assets, stopped renewing policies three months ago, said Stephen Harbeck, general counsel of the Securities Investor Protection Corp.
BUSINESS
July 31, 2007 | From Times Wire Reports
The widening sub-prime meltdown spread more pain Monday as the financial markets absorbed reports from a number of companies of problems stemming from mortgages issued to people with poor credit: • Mortgage insurers MGIC Investment Corp. and Radian Group Inc. said they might write off their combined $1.03-billion stake in a venture that invests in sub-prime mortgages on which payments were past due. • American Home Mortgage Investment Corp.
BUSINESS
January 1, 2008 | Josh P. Hamilton and Erik Holm, Bloomberg News
Defaults on privately insured U.S. mortgages rose 35% in November to a record, an industry report showed Monday, adding evidence about the depth of the U.S. housing slump. The number of insured borrowers falling more than 60 days late on payments jumped to 61,033 last month from 45,325 in November 2006, according to data from members of the Washington-based Mortgage Insurance Companies of America. The missed payments, often a prelude to foreclosure, represented a 2.9% increase from October.
BUSINESS
October 26, 2007 | Tom Petruno and Walter Hamilton, Times Staff Writers
Will Countrywide Financial Corp.'s earnings report today deepen the gloom over housing-related stocks -- or lift it? After another blistering trading session for financial issues on Thursday, the Calabasas-based mortgage giant will announce its third-quarter results before the market opens this morning.
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