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by CareyBot

Private mortgage insurer Radian Group Inc. reported a $618 million fourth quarter loss today, bringing losses for the year to $1.2 billion. Net premiums written for the quarter were up 11.1 percent from a year ago, to $309.6 million, but were more than offset by a $458.5 million write-down in the value of derivative investments and a $687.8 million boost in mortgage insurance loss reserves. For the year, net premiums rose 6.5 percent, to $1.18 billion, but Radian posted a loss for the year as write-downs of derivate investments totaled $1.2 billion and loss reserves rose to $1.3 billion, compared to $369 million a year ago. Analysts at Standard & Poor's Ratings Services last month boosted by 20 percent their loss projections for mortgage and bond insurers, citing deterioratin...