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Commentary: Scratch-and-Dent Musings
Apr 14, 2007What a tangled web we weave: For those who missed it, mortgage insurer MGIC Investment Corp. reported this past week that its first quarter profits fell 43.4 percent. Net income fell to $92.4 million, or $1.12 per share, from $163.5 million, or $1.87 per share, in the year-ago period. The company said it was hurt by the housing market, higher losses and flat net premiums, which begs the question of what impact its pending merger with Radian Group Inc. will have on the soon-to-be combined entity. Beyond their insurance premium line of business, MGIC/Radian have a controlling interest in Credit-Based Asset Servicing and Securitization LLC, one of the nation’s largest scratch-and-dent mortgage operations — most of which are subprime.
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HUD Expands RESPA Investigations, Targets Reform by End of 2007
Apr 11, 2007 -
Looking to Survive Subprime?
Apr 10, 2007 -
Fieldstone to Lay Off 14 Percent of Workforce
Apr 06, 2007 -
MLN Saga Plays On
Apr 06, 2007 -
BK Court Approves DIP Financing for New Century
Apr 06, 2007 -
Marshall & Ilsey to Spin Off Metavante; Private Equity Takes Stake in Tech Provider
Apr 04, 2007 -
IndyMac Completes Retail Acquisition of New York Mortgage
Apr 03, 2007 -
SouthStar Funding Goes Under
Apr 02, 2007
