Radian Gets Capital Risk Waivers

Radian Guaranty has received waivers of the risk-to-capital ratio in four states of the 16 states it applied to, and has been rejected by two, the company said.

The two states which have turned Radian down are New York, where the regulator lacks the regulatory authority to grant a waiver, and Kansas, where the regulator has declined to issue any private mortgage insurer a waiver.

It has gained waivers (or a similar form of relief) from Arizona, Illinois, Kentucky and Wisconsin.

Even so, the company said its risk-to-capital ratio as of the end of last year should be below 25-to-1 and it has $500 million of liquidity available from its parent company, Radian Group Inc.

The company also had a strong fourth quarter in terms of new insurance written, with $6.5 billion in volume.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_516/radian-capital-risk-waivers-1028338-1.html

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