Industry News

MGIC, Radian stand to lose $1 billion in subprime investments

C-BASS subsidiary struggling to meet margin calls
Published on Jul 31, 2007

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by CareyBot

Two mortgage insurance giants that plan to merge — MGIC Investment Corp. and The Radian Group Inc. — say they could lose their entire $1 billion investment in a subsidiary, C-BASS LLC, that’s heavily invested in credit risk of subprime ...