Radian, MGIC Investment Climb After Final Mortgage-insurer Rules
Radian Group and MGIC Investment rallied while other mortgage insurers saw muted action, following the publication of final mortgage insurer guidelines from Fannie Mae and Freddie Mac late on Friday. The rules kick in at the end of the year. Edwin Groshans, an analyst at Height Securities, said there was a reduction in the asset requirement for loans that have seasoned by 25 months or more and the asset requirement for the vast majority of insured product was reduced.
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