Radian Guaranty, a Philadelphia-based mortgage insurer, has announced the completion of a Smart Home transaction, its third and largest, to help manage the company's exposure to nonprime mortgage risk.To mitigate the risk of unexpected losses related to a $6.27 billion pool of nonprime mortgages, Radian ceded a portion of the pool to an unaffiliated reinsurance company that sold to investors $172.9 million of credit-linked notes backed by the nonprime mortgage pool. Radian said it developed Smart Home transactions in 2004 to enable it to distribute mortgage risk to the capital markets, thereby improving its risk profile and facilitating its insurance of nonprime loans. Radian Guaranty is a subsidiary of Radian Group Inc., a global credit enhancement provider that can be found online at http://www.radian.biz.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25