Freddie Mac has announced that it will continue to treat Mortgage Guaranty Insurance Corp., PMI Mortgage Insurance Co., and Radian Guaranty Inc. as Type I insurers under its eligibility requirements for private mortgage insurers. The announcement followed Freddie Mac's review of the companies' business and financial remediation plans. The companies have said they are implementing the plans in an effort to regain double-A ratings from one or more rating agencies. Triad Guaranty Inc. recently reported that Freddie Mac had denied the appeal of its suspension as an approved mortgage insurer, and reported that its mortgage insurance subsidiary, Triad Guaranty Insurance Co., would cease issuing commitments for mortgage insurance as of July 15 and be transitioned into runoff.
Freddie Affirms MI Trio's Status
Published June 23, 2008, 1:00 p.m. EDT
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