Ginnie Mae announces new procedures for monitoring loan data submitted by issuers – NMP Skip to main content

Ginnie Mae announces new procedures for monitoring loan data submitted by issuers

National Mortgage Professional
Nov 03, 2008

Radian implements mortgage insurance capital plan MortgagePress.comRandian, mortgage insurance, Radian Asset Assurance, S.A. Ibrahim, Sherman Financial Radian Group Inc. has announced the completion of the primary component of its capital plan, providing non-dilutive capital support to its mortgage insurance business. Radian has contributed its ownership interest in Radian Asset Assurance Inc. (Radian Asset), its principal financial guaranty subsidiary, to Radian Guaranty, the company's principal mortgage insurance subsidiary. "We reiterate our commitment to our mortgage insurance business with the contribution of a company with $960 million in statutory surplus, which is part of approximately $3 billion of claims-paying resources," stated S.A. Ibrahim, chief executive officer of Radian Group. "Our mortgage insurance business remains our primary focus and we believe the contribution of Radian Asset will provide a substantial amount of capital over time. The strength of this internally-sourced capital plan differentiates us within the industry and best positions us for the long term." Radian's ownership interest in Sherman Financial recently increased to approximately 29 percent from 22 percent. Radian expects Sherman to continue to provide it with a meaningful dividend contribution and to serve as a potential source of additional capital. Radian received $19.5 million in dividends from Sherman in the first half of 2008. To allow for this transfer, Radian completed the previously announced amendment to its credit facility, reducing the outstanding amount and commitment size of the facility to $150 million. For more information, visit www.radian.biz.
Published
Nov 03, 2008
Blend Labs Has Cut 420 Jobs Since April

The 25% reduction of its workforce comes as it posts $478 million Q2 loss.

Industry News
Aug 17, 2022
UWM Now Offering Temporary Rate Buydowns

The temporary buydowns will lower borrowers’ interest rates by up to 2% for the first two years of a mortgage. 

Industry News
Aug 17, 2022
Rocket Mortgage Teams With Santander Bank

Rocket's mortgage services now available to Santander's U.S. banking clients

Industry News
Aug 16, 2022
Ameris Bank Commits $10M To Help 1st-Time Homebuyers

The Ameris Down Payment Grant Program will help eligible first-time buyers with down payments and closing costs.

Industry News
Aug 16, 2022
Competition Now Highest For Lowest-Priced Homes

In reverse of pandemic trend, competition for mid- and high-priced homes not as white hot among buyers.

Analysis and Data
Aug 16, 2022
Impac Mortgage Slashes Staffing Levels By 48%

From 330 in 4Q 2021, headcount now stands at 170 for California lender

Non-QM
Aug 15, 2022