Industry News

MGIC, Radian call off merger

Plan complicated by C-BASS subprime losses
Published on Sep 5, 2007

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by CareyBot

Mortgage insurers MGIC Investment Corp. and Radian Group Inc. have agreed to terminate a merger agreement that was complicated by both companies’ potential losses in C-BASS LLC, a subsidiary that’s invested in subprime mortgages. In agreeing to back out of ...